'Social Entrepreneurship':key factor in addressing SA's challenges

01 Feb 2016 | Admin Author

Social Entrepreneurship is key to addressing the country's challenges.

This was the clear message at The Hope Factory's Annual Stakeholder Appreciation day held in Port Elizabeth on Wednesday.

The Hope Factory, governed by the South African Insititute of Charted Accountants, offers a strategic mentorship programme to help local entrepreneurs achieve their goals, grow their businesses and ultimately give back to their communities

SAICA CEO, Terence Nombembe, says social entrepreneurship in society is critically important as it liberates communities from a bondage associated with poverty.

"We regard issues of social entrepreneurship as critically important because they liberate communities from poverty and dependency. We invest in this programme to make it a point to give peoples the skills they need to run their businesses." says Nombembe.

According to a 2013 Goldman Sachs report 7 million people in South Africa are unemployed, 4.6 million are active job seekers and 2.3 million have given up looking for work

Social Entrepreneur and well known SA business woman, Wendy Luhabe, says women in the economy are an under valued resource.

"Research has stated that behind China and India women are the third largest economy in the world. So clearly this is an untapped resource, it's an under valued resource and as a nation given our circumstances and challenges we should invest in, so they can contribute employment contribution and towards achieving their own financial independence as women." says Luhabe.