Byline: Nonjabuliso Nhlambo

25 October 2023

Seda Mpumalanga hosted a pitch for funding masterclasses on the 18th of October 2023 in Secunda, where 50 SMMEs across the Mpumalanga Province were selected to participate and compete with one another for the top 3 positions in two categories (the main category and the youth category). This was a build-up to the national competition, which is expected to take place in November 2023.

Pitching allows small businesses to test business ideas and check if they are acceptable and can attract investment. It offers an enabling environment for ideas to gain momentum and be realized.

Seda initiated this program to close the gap between entrepreneurs’ needs and investors’ expectations. The ongoing challenge of access to finance for small businesses compels Seda to intervene in narrowing the gap and facilitating deal-making between entrepreneurs and investors.

The main aim of this Pitch for Funding Masterclass is to upskill entrepreneurs about digital marketing tools, access to finance, and how to present business cases effectively and efficiently in persuasive pitches to potential funders.

Programs like this are critical to accelerating economic growth and reducing unemployment. They also enable Standard Bank to support small and medium enterprises (SMEs) with their business banking needs. Through our relationship banker model, we’re able to foster sustainable growth by helping SMEs navigate and access Standard Bank’s broader business insights and well-developed financial and non-financial ecosystem at every stage of their growth journey,” says Yaseen Guman, Standard Bank Head of Business Banking for Mpumalanga.

The masterclass was jointly hosted by Seda, Standard Bank, and NYDA as our main sponsors.

After a round of competitive pitches from 15 finalists, the judges decided on the following six winners:

Main Category:

  1. R45 000: Mvelase Nomagugu from Lizwile Engineering Pty. Ltd.
  2. R35 000: Penwell Silinda from the Smart-D app
  3. R30 000: Jabulile Digashu from Deevine Flourist

Youth Category:

  1. R50 000, Makhosonke Kwaza from Thusong Technologies
  2. R20,000: Vanessa Snyman from VEZ Technology Manufacturing
  3. R10 000: Sandile Phungwayo from PS Leather World
Standard Bank team at the pitch for funding event
Judges of the pitch