In honour of Women’s Day, Sigma International has announced a significant increase in its support for women entrepreneurs across South Africa. Over the past year, the organisation has helped incubate 117 women-owned businesses, resulting in the creation of 59 new jobs and channelling more than R13 million in financial assistance to these enterprises.
Empowering Women in a Challenging Economy
“These figures represent more than just statistics; they reflect the untapped potential of women entrepreneurs in South Africa and Sigma’s commitment to helping them achieve success,” says Akash Singh, CEO of Sigma International. The timing of this support is crucial, given South Africa’s high unemployment rate of 32.9%, with black African women facing an even higher rate of 39.2%. Initiatives like Sigma’s are essential to addressing these economic challenges.
A standout example is Thejes Khan, founder of the Forest Fairies Sweet Company in Durban. With Sigma’s support, her business has grown significantly, now employing over 40 people. “Sigma has been instrumental in connecting us with key players in the hospitality industry and providing crucial learning opportunities through their webinars. They also facilitated introductions to corporates that funded new machinery, vital for our recent expansion,” Khan explains.
Khan’s success story highlights the broader challenges and opportunities facing female entrepreneurs. While a significant percentage of women in South Africa aspire to start their own businesses, access to finance remains a major hurdle. According to the Mastercard Index of Women Entrepreneurs, despite an increase in women’s entrepreneurial activity, access to finance has declined, making Sigma’s initiatives even more critical.
As South Africa celebrates Women’s Day, Sigma International’s latest achievements underscore the economic potential that can be unlocked when women are given the resources and support they need to thrive in business.
