Small businesses receive big boost
DIEPSLOOT – With the help of the Riversands Incubation Hub and a new Nedbank branch, small businesses in Diepsloot are getting a big boost.
Small businesses and entrepreneurs in Diepsloot are receiving a helping hand from Nedbank and the Riversands Incubation Hub.
This in the hope that the support will develop and encourage growth in the Small and Medium Enterprises (SME) sector and in turn, strengthen South Africa’s economy.
The hub was established last year and offers factory and retail space to budding entrepreneurs in the area at a nominal cost. Situated within the Riversands Commercial Park near Steyn City, it was founded to create jobs and alleviate poverty. A celebratory lunch at the hub was held for the opening of a new Nedbank branch at the hub, which will provide banking facilities, business development, mentorship and training to the SMEs based there.
“Riversands [Incubation Hub] was founded with the vision of boosting economic growth by providing a platform for entrepreneurs to build strong, sustainable businesses,” explained Jenny Retief, the Riversands Incubation Hub’s chief executive officer.
“This bold ambition is only possible through meaningful partnerships with bigger businesses and Nedbank’s generous investment in Riversands will contribute hugely to deepening the support we offer business owners,” said Retief.
According to the City of Johannesburg, Diepsloot is the fastest growing region in the city, but also has a 39 percent unemployment rate among its residents. Stakeholders hope the hub could be the catalyst that brings Diepsloot residents into the mainstream economy.
“The Riversands Incubation Hub has been very helpful to me,” said Joe Govo, who owns Afri-Ceramix, one of the 90 tenants currently at the hub.
“Before I moved here I was working in a very small room, and the hub has really helped. Moving forward, I want to grow as a business and work on how best to market my products.”
More than 80 people were present at the launch, including emerging and established entrepreneurs, government officials and Nedbank employees. The bank also used the occasion to hand over R3 million to Riversands, which will be used to further develop businesses at the hub.
