On 12 June 2025, the Zululand Chamber of Commerce and Industry proudly participated in the ABSA-SACCI MSME Township Economy and Development Conference, hosted at the Umfolozi Hotel, Casino & Convention Resort in Richards Bay. This influential event brought together changemakers from the public and private sectors, united by a shared goal: to accelerate the transformation and revitalisation of South Africa’s township and informal economies.
In her welcome address, ZCCI President Hlengiwe Mvubu set the tone for the day’s proceedings:
“This conference is a meeting of purpose for small businesses in our region. We must be bold in our thinking, forge sustainable collaborations, and remain united in our goal to drive inclusive economic development where it matters most in our townships.”
She further emphasized the need for targeted support for women in business and praised the enduring partnership with ABSA for their commitment to building township economies, “one story at a time.”
The day featured insightful keynotes, strategic networking, and a dynamic SMME pitch competition, spotlighting the innovation and resilience of local entrepreneurs.
Delivering the keynote address, Hon. Stella Ndabeni-Abrahams (MP), Minister of Small Business Development, delivered a powerful message of urgency and collaboration.
“We must move away from seeing township entrepreneurs as mere survivalists. These businesses from spaza shops to sidewalk vendors are the backbone of our local economies. Transformation is not a constraint to growth; it’s an enabler.”
She highlighted critical barriers faced by township enterprises, including lack of access to markets, infrastructure, and finance not due to a lack of funding, but a lack of access. Crime, red tape, and misaligned policies were also cited as obstacles that undermine small business development.
Minister Ndabeni-Abrahams stressed the importance of tailored, fit-for-purpose interventions, underpinned by cross-sector partnerships. She introduced the forthcoming Township Economy Revitalisation Policy, aimed at formalising and integrating township businesses into broader economic supply chains.
“Job creation starts at the ground level. We must produce job creators not just job seekers, particularly among women, youth, and people with disabilities from townships and rural areas.”
The Zululand Chamber echoes this sentiment and remains committed to championing local entrepreneurs by facilitating meaningful dialogue, providing platforms for innovation, and advocating for inclusive economic policies.
As the Minister noted, “We have no time to moan, we must advance.” The Zululand Chamber is proud to be part of this movement, working alongside government and business to unlock the full potential of township economies and ensure no one is left behind.
A massive thank you to ABSA for bringing such an initiative to our city!
