The summit, held under the theme "Innovate, Inspire and Impact", provided a unique platform for dialogue among key stakeholders, including business leaders, policymakers, and academics. The focus was on driving innovation, sparking inspiration, and creating a lasting impact within the entrepreneurship landscape of Mpumalanga.
Opening the summit, UMP Vice-Chancellor and Chairperson of the CFERI Advisory Board, Professor Thoko Mayekiso, noted that this dialogue reflects UMP’s commitment to innovation, aligned with its Vision 2030: "To be an African University Leading in Creating Opportunities for Sustainable Development Through Innovation."
The Summit created a dialogue for business leaders, policymakers and academics.
“There is a clear alignment between the theme of the Summit, 'Innovate, Inspire, Impact', and the strategic direction of our institution. We are committed to creating a modern, stimulating environment that promotes academic excellence while fostering entrepreneurship, creativity, and innovation,” she said.
At the University of Mpumalanga, efforts are geared towards encouraging students and staff to follow their passions, aim for significant impact, focus on creating meaningful experiences, and hone their ability to identify new opportunities.
She added: “Throughout their studies at the University of Mpumalanga, our students should cultivate a mindset for innovation. As an institution, we are dedicated to developing a culture of innovation and entrepreneurship with a clear focus on Africa. We take pride in offering an environment where students can realise their full potential and prepare themselves for both work and life.”
Professor Mayekiso further emphasised that the Entrepreneurship Summit epitomises what UMP stands for as a forward-looking African university – one that promotes entrepreneurial thinking and problem-solving skills among its staff and students, producing graduates who are both innovative and entrepreneurial.
“We produce graduates who are intellectually curious, independent, creative, and critical thinkers. These are individuals who can apply their knowledge and skills to solve both novel and routine problems for sustainable development. We are committed to fostering an entrepreneurial culture at UMP, ensuring that students, regardless of their field of study, embrace entrepreneurship.”
The Centre for Entrepreneurship Rapid Incubator (CFERI) plays a crucial role in assisting students in testing their ideas, pitching to potential investors, growing their businesses, and overcoming challenges. Budding entrepreneurs are given the tools to crystallise their ideas into viable ventures.
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uest speaker, Mr Jarana noted that a granular approach is required to understand what needs to be done.
Seasoned businessman and transformational leader, Mr Jarana, founder and CEO of Ilitha Telecommunications and Chairperson of the CSIR Board, highlighted the critical role of entrepreneurship in addressing youth unemployment and economic inequality in South Africa.
He observed that the country has yet to find a way to scale the success of small enterprises within the economy, underscoring the importance of initiatives like the summit.
“The state of unemployment, particularly among the youth, is unacceptably high. Unless we find solutions to these challenges, we risk the disintegration of our social fabric, leading to social instability. Youth unemployment threatens to undermine the gains of democracy,” Jarana warned.
He stressed the importance of not resting while the country continues to face these challenges: “As long as children live under plastic shelters and many of our people remain without jobs, no South African should rest in the joy of freedom. We must take action to ensure that all South Africans can enjoy the fruits of freedom in their lifetime.”
UMPCFERI hosted the Summit in partnership with Tshwane University of Technology, DEDT, Old Mutual South Africa, and SEDA.
Jarana also emphasised the need to better understand the ecosystem, highlighting human, social, and financial capital, as well as infrastructure, culture, and policy frameworks. He cited practical examples from the telecommunications and agricultural sectors and advocated for a more forensic analysis of policy barriers that hinder SME growth.
“We must take a granular approach to understanding what needs to be done in each sector, whether in ICT, digital, or tourism. The current policy framework, particularly in terms of licensing and infrastructure, doesn’t prioritise SMEs. If we begin to allocate resources like spectrum to SMEs, we will see a surge in start-ups, especially in the digital space. We must continue to seek solutions with precision, digging deeper into each sector to identify what more can be done.”
The summit brought together various sectors for panel discussions on the critical role of collaboration in nurturing a thriving entrepreneurial landscape. Discussions included "Startups and Small Businesses: Initial Seed, Growth, and Expansion," moderated by Ms Confidence Ndlovu, and "Catalysing Entrepreneurial Success: Innovate, Inspire and Impact," moderated by Mr Sifiso Ndwandwe.
Hosted by UMPCFERI in partnership with Tshwane University of Technology, DEDT, Old Mutual South Africa, and SEDA, the event explored how different sectors can collaborate to overcome challenges, harness opportunities, and contribute to the socio-economic development of the community.
Story by Cleopatra Makhaga. Pictures by ChrisIPhoto.