By KOPANO MONAHENG
ANYONE can start a business, but it is important to know what you are doing.
Standard Bank, on the other hand, is selective about who it wants to assist.
Pouring millions of rands into small businesses simply because someone has an idea can be risky. The bank needs to know whether the entrepreneurs it is willing to support have the potential to create jobs and contribute to the South African economy.
Does the entrepreneur have a product or service that is in demand?
Because if there is no demand, it means there will be no customers.
Therefore, entrepreneurs need to understand their businesses and know their markets before entering the Kasi SME National Pitch Challenge for funding.
The bank targets black-owned businesses for funding, mentorship, business development support, market access opportunities and more.
Naledzani Mosomane, head of enterprise & supplier development for business and commercial banking at Standard Bank South Africa, said the quality of businesses entering the competition showed the strength and potential of township economies.
“The calibre of businesses that entered this year’s competition demonstrates that some of South Africa’s most exciting growth opportunities are emerging from township economies,” Mosomane said.
“The quality of businesses that participated demonstrates that entrepreneurs are building scalable enterprises that create jobs, solve real challenges, and contribute meaningfully to economic growth.”
Rodney Maduwa from Soshanguve, Gauteng, has been named the winner of the 2026 Standard Bank Kasi SME National Pitch Challenge winning R1 million grand prize after emerging as the top business from hundreds of applications received from entrepreneurs across the country.
His business Maduwa Paint World (Pty) Ltd produces decorative and industrial coatings while pursuing plans to establish a local acrylic emulsion manufacturing facility aimed at reducing its reliance on imported raw materials.
