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Engineering, Construction SMEs invited to enter Eskom Investment Competition for R1.3 million in Benefits

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Doors are now open for Small and Medium Enterprises (SMEs) in the engineering and construction sectors to enter the Eskom Business Investment Competition (BIC), the Eskom Development Foundation (EDF) announced.

This follows the launch of the Foundation’s annual Business Investment Competition on the 7th of December 2020.

Black-owned small businesses in engineering and construction are urged to pursue this opportunity that could earn them a financial injection, as well as present them with a networking opportunity with like-minded entrepreneurs and expose them to a wealth of knowledge to be imparted by industry leaders during a Business Connect training webinar taking place in March 2021.

Sibongile Msomi, founder of Impumelelo Yamakhosikazi, first runner-up in the Engineering & Construction Sector in the 2019 BIC said: “For us, the networking opportunity was the highlight. We made business connections and even got clients that we still work with to this day.”

Launched twelve years ago in 2008, the Business Investment Competition has never made more sense than now. The country’s economy has suffered a major blow owing to the impact of the Covid-19 pandemic. It was worse for small businesses. As South Africa faces a second wave of the pandemic, there are fears of a further negative impact on small businesses.

South Africa has the highest number of Covid-19 cases on the African continent. According to a United Nations Development Programme (UNDP) Socioeconomic Impact Assessment 2020 report, SMEs are amongst the most negatively impacted sectors by the pandemic.

“The BIC provides a platform for South African owners of SMEs to become part of a community of like-minded entrepreneurs as they look to build on their businesses’ solid foundation and realise their potential,” said Cecil Ramonotsi, Chief Executive Officer of the Eskom Development Foundation.

Eskom is cognisant of the significant role played by SMEs in addressing the country’s triple threat of unemployment, poverty and inequality through creation of job opportunities and contributing to the economy in their respective regions.

Entries for the competition opened on 4 December 2021 and the closing date has been extended to 12 February 2021 at midnight. The competition is open to any registered black-owned SMEs across South Africa which have been operating for two years or more. Other competition categories include manufacturing, agriculture and agri-processing, trade and services, as well as women in business. This is an additional category that was introduced this year.

“For the last 12 years Eskom has been running the BIC to recognise, reward and help boost small businesses that are contributing to skills development, job creation and economic growth,” added Ramonotsi.

Prizes for this year’s competition are valued at R1.3 million. The overall winner will receive R300 000 and business training at the end of the competition. Each of the five sector winners take home R125 000, while first and second runners up each receive R75 000 and R50 000 respectively.

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Alan Straton

Chief Cook, Bottle Washer and Broom Mechanic at MyPE
Passionate about Port Elizabeth and definitely NOT packing for Perth. Alan's ethos is epitomised in the words of Nelson Mandela; "I have fought against white domination and I have fought against black domination. I have cherished the idea of a democratic and free society. If need be, it is an ideal for which I am prepared to die." See more articles by Alan.