Ramaphosa opens Shanduka Black Umbrellas

Executive chairman of the Shanduka Group Cyril Ramaphosa (L) and Mthembeni Ntshangase, who runs Isivuno, an events and production company.

Durban - Top businessman Cyril Ramaphosa, the executive chairman of the Shanduka Group, officially opened the Durban incubator of Shanduka Black Umbrellas, a non-profit company involved in the support of emerging black businesses through enterprise development, on Wednesday night.

The Shanduka Black Umbrellas Durban incubator was set up late last year and is based at SmartXchange in the city centre with 24 small black-owned businesses under its wing.

“The establishment of the Durban incubator saw more than 400 entrepreneurs apply to be part of the programme… so far 24 have been taken on board, all of whom are already creating employment,” said Ramaphosa.

He said the latest branch was set up with additional financial support from the government’s recently established Jobs Fund as well other private sector funders. He said 10 centres would be opened around the country.

Ramaphosa said that Shanduka Black Umbrellas Durban had signed an important memorandum of understanding with the eThekwini municipality, a partnership which seeks to actively grow sustainable businesses that are able to provide quality products and services to both the public and private sector.

“Shanduka Black Umbrellas is an important catalyst in the development of business skills and entrepreneurship, a sector I believe is one of the most critical ingredients in ensuring the economic empowerment of historically disadvantaged people in South Africa,” he said. – Mercury Reporter