Introduction
Introduction
We are excited to announce the expansion of the Graça Machel Trust’s Women Creating Wealth -(WCW) in partnership with the Finance and Accounting Services Sector Education and Training Authority (FASSET). The programme is dedicated to African women entrepreneurs to enable them to thrive by providing essential skills, tools, mindset, business development support services and access to a vibrant, business community and network.
The Challenge we are addressing
Africa leads the world in terms of the number of women business owners. Women make up 58 % of the continent’s self-employed population. However, a recent World Bank report, ‘Profiting from Parity’, shows that women entrepreneurs across sub-Saharan Africa continue to earn low profits and seldomly grow to become bigger, wealthier and employment-generating businesses.
South Africa, as a country with a high unemployment rate, gender imbalances also continue to be the greatest hindering factor in empowering women entrepreneurs. South African women entrepreneurs face several complexities, barriers, and restrictions in their entrepreneurship-journey. Strategic support of South African women entrepreneurs is critical to the country’s economic advancement. The Graça Machel Trust prioritises the agenda of advancing women entrepreneurship by increasing the number of sustainable women-owned businesses in South Africa, and the African continent.
The Graça Machel Trust (the Trust) with its strategic partners, aim to contribute to a new narrative of African women entrepreneurs running thriving businesses that create wealth and jobs.
Our dedication to women as catalysts for Africa’s economic and social transformation is substantiated by extensive research that underscores the far-reaching impact of money in the hands of women, which effectively addresses issues of poverty and inequality. Notably, women tend to invest more in their families and communities. As women generate wealth, they tend to significantly advance at least 6 of the Sustainable Development Goals: eradicating poverty, eliminating hunger, promoting good health and well-being, establishing gender equality, fostering decent work, and driving economic growth.
Our solution
Women Creating Wealth (WCW) is the Trust’s flagship entrepreneurship programme designed to build women entrepreneurs’ confidence, skills and networks to scale their businesses and transition from income generation to wealth creation. The programme has already impacted 1,000 women entrepreneurs in Eastern and Southern Africa.
Our big audacious goal for WCW is to expand it and reach 10,000 businesswomen who are inspired and equipped to create $1 billion (USD) in turnover and 200,000 employment opportunities in 5 years.
We are calling on women South African entrepreneurs with a vision and ambition to grow their business 10X (times) in the next 5 years and create job opportunities to join our Pan-African Businesswomen Movement!
Important dates
| Item/Activity | Date | Time |
|---|---|---|
| Information session 1 | 24 May 2024 | 12 pm – 2 pm SAST |
| Information session 2 | 6 June 2024 | 12 pm – 2 pm SAST |
| Application deadline | 19 July 2024 | 11:59pm SAST |
Who should apply? – Eligibility criteria
- Women entrepreneurs in South Africa
- Age: 18 and above.
- Must be a registered business owner, with a minimum qualification of a matric certificate and be able to study online.
- Must have operated the business for 2 years or more.
- Have an operational business or a product/service that can be tested in the market with the potential for growth and impact.
- Businesses can be sole proprietorships, partnerships, companies, cooperatives, or groups.
- Have an annual business turnover between R120,000 – R10 million.
- Business must fall within any of the financial services sectors including:
- Accounting and auditing services
- Financial consulting
- Payment processing
- Insurance
- Investment services
- Regulatory and compliance services
- Securities and brokerage
- Financial Technology (FinTech)
- Real estate and mortgage services
- Credit and lending
- Financial literacy services
- Other finance related services
What documents do you need to apply?
- Certified Identity Document (ID), not older than 3 months
- Copy of business registration certificate
- BEE certificate OR an affidavit, not older than 12 months
How will the programme be delivered?
The Ignite course will be offered on an online platform (Learner Management System)– therefore, you need to have access to the internet.
- Self-learning sessions, coaching sessions and peer-to-peer learning opportunities;
- Virtual networking sessions/roundtables/workshops;
- Face-to-face workshops and networking sessions.
Programme duration
The programme duration is 10 months:
- 4 months of blended learning: recommended time commitment is 4-6 hours per week
- 6 months aftercare: recommended time commitment is 2-3 hours per week
- Upon completion of all required assignments and tasks you will receive:
- A WCW certificate of completion
- An invitation to be part of a vibrant WCW business community to stay inspired and have support on your journey of wealth creation.
How much does the programme cost?
- This programme is free of charge to you!
- Your contribution:
- Get access to enough data/WIFI to study online and engage in the support facilities and business community;
- Keep and respect time for peer-to-peer, master coaching sessions and other events of the programme;
- Respond to surveys and questionnaires for programme adaptation and improvement;
- Interact and engage with fellow programme participants to make use of all the opportunities offered to help you succeed.
Why should you apply?
- To have structured training on the WCW Online Ignite course with customized coaching, mentoring, advice, and technical assistance;
- To equip yourself with the mindset, tools, skills, resources and networks you need to accelerate the growth of your business to unleash your potential as a woman entrepreneur and a wealth creator;
- To set audacious goals, find accountability partners, and strengthen personal mastery, confidence and resilience to overcome obstacles;
- To receive invitations to regular entrepreneurship networking events and round tables to build social and business capital;
- To access a pool of rated service providers to support growth, access to markets and finance;
- After completion of the programme, you will become part of a 3-year dynamic movement led by women entrepreneurs with the ambition, vision, and commitment to create wealth for their families and employment opportunities for young people in their communities.
Frequently Asked Questions
- Certified Identity Document (ID), not older than 3 months
- Proof of business registration certificate
- BEE certificate OR an affidavit, not older than 12 months
- Yes, you can apply if you meet the specified requirements – a registered business that has operated for at least 2 years with a turnover between R120,000 – R10 million.
- If you are a South African woman aged 18 and above.
- Be available to attend information sessions, bootcamps, orientation sessions and aftercare programme.
- Invest in data to access study material online and engage in the support facilities and business community;
- A willingness to learn, upscale the use of technological tools and grow your business through peer support, master coaches and mentors.
- Building your business to have access to markets and finance with the support of coaches, mentors, business networks and investor readiness linkages;
- The WCW programme is a 10-month programme designed to meet your unique business needs.
- Upon completion, you receive an invitation to a vibrant business community to support your journey of wealth creation.
- Yes, upon completion of all required assignments and tasks, you will receive a WCW programme certificate as well as an invitation to a vibrant, business community to support your journey of wealth creation.
- While financial support is not directly provided to entrepreneurs through the WCW programme, high performance is recognized with awards of technical assistance services, market access and funding linkages.
- The WCW programme is targeting the financial sector as well as other sectors that have the potential to create jobs for South Africa’s women and youth.
- Click here to view all sectors.
- All applicants will be notified by email upon the conclusion of the call for application selection process:
| Item/activity | Date | Time |
|---|---|---|
| Information session 1 | 24 May 2024 | 12pm – 2pm SAST |
| Information session 2 | 6 June 2024 | 12pm – 2pm SAST |
| Application deadline | 19 July 2024 | 11:59pm SAST |
- The programme is delivered mostly online for entrepreneurs’ convenience.
- Face-to-face networking sessions at specific points of the programme will be provided.
- No. Applications received after the deadline will not be considered.
- If you miss the current application cycle – please look out for the next call for application on our social media platforms.
Still couldn’t find the answer you’re looking for?
Get in touch with us on email with your specific query:
Sinoneliso Xaba
Bonisiwe Mabaso