06/10/2026
Sharing a great initiative organised by the RU Centre for Entrepreneurship and Incubation and led by Dean of Commerce, Prof Tshidi Mohapeloa.
Funding Fair connects Makhanda entrepreneurs with potential funders
By Mbali Tanana
Emerging entrepreneurs in Makhanda were given an opportunity to explore funding opportunities and engage directly with potential financiers at a Funding Fair hosted by the Centre for Entrepreneurship and Incubation at Rhodes University on Friday, 25 September.
The event brought together entrepreneurs from around Makhanda, where representatives from banks and developmental financiers like the Eastern Cape Development Corporation and the National Youth Development Agency (NYDA) created a platform for aspiring, emerging and established business owners to learn more about the funding opportunities, grants and loans available and what is required to access financial support.
Dean of Commerce Professor Tshidi Mohapeloa emphasised the importance of creating practical opportunities for entrepreneurs to engage with the funding institutions that can help them turn their business ideas into sustainable enterprises.
“There is a big gap where you find a lot of entrepreneurs who have a lot of ideas and just never know where to turn, so I supported the idea to host this event when the lecturer for the Postgraduate Diploma in Enterprise Development (PDEM) Emmanuel [Okello] proposed we host it and the feedback from the funding entities has been exciting because it has been indicative that we have a lot of innovators, who with the right support can make a meaningful impact to the community,” she said.
Okello said the event was inspired by many emerging businesses struggling to access finance. “Finance remains one of the biggest obstacles to starting, sustaining and expanding an enterprise, and that is what prompted me to initiate the Funding Fair. Many ideas die before they are even born, and many business owners or innovators don’t make it past the prototype stage, which is why we thought to bridge this gap by bringing funders into direct conversation with entrepreneurs,” he said.
NYDA Sarah Baartman representative Mzukusi Mnotoza said the agency is always keen to engage the youth, offering mentorship and funding for eligible, compliant businesses.
“The agency is allocated funding annually to promote economic activity among the youth. The money is there to boost innovators and entrepreneurs. We just want to see more compliant innovators and entrepreneurs become eligible for the financial backing they need, and we are here to help throughout the whole process.
“The NYDA provides young entrepreneurs with financial and non-financial support, including assistance aimed at developing businesses and improving entrepreneurs’ capacity to operate sustainable enterprises,” he said.
The Funding Fair gave entrepreneurs a chance to ask questions about funding requirements, eligibility, and what financial institutions and development agencies expect, with a focus on being funding-ready.
Entrepreneurs were encouraged to have clear business plans, understand their financial position, and demonstrate how their businesses generate income and have the potential to grow.
Standard Bank Relationship Manager Madre Weitsz said it was refreshing to hear solution-driven, innovative ideas aimed at improving living conditions for the community of Makhanda.
“To think that there are young people who are working to solve some of our daily challenges is very encouraging, and these are the initiatives we want to support and fund, especially because they will make an impact, but to make an impact in our communities it is very important to be funding-ready when presenting your business ideas,” she said.
Weitsz said Standard Bank also offers several funding and business development options to support small and emerging businesses. At the same time, its broader MSME initiatives focus on connecting entrepreneurs with markets, financiers, corporate supply chains, and other business support networks.
Emerging entrepreneur Esethu Seholoba said the value of the event extended beyond simply finding out where and when money was available.
“It provided an opportunity to engage directly with representatives from institutions that could potentially become partners in our business journeys. The event also highlighted an important reality that accessing funding is not simply about having a good business idea. There is a lot you need to think through.
“Entrepreneurs need to demonstrate that they understand their markets, have a viable business model, can manage their finances and have a clear plan for how funding will contribute to growth,” he said.
Rhodes University’s growing focus on entrepreneurship is aimed not only at equipping students with business skills but also at contributing to the economic development of the wider Makhanda community.
Okello said the ultimate objective should be to move entrepreneurs beyond simply seeking funding towards building businesses that can survive and grow.
