South Africa: Graça Machel Trust Partners With FASSET to Transform Women's Businesses From Income Generation to Wealth Creation

23 May 2023
Graça Machel Trust (Johannesburg)
press release By The Graça Machel Trust

On 22 May the Graça Machel Trust's Women Creating Wealth (WCW) Enterprise Development Programme is proud to partner with the Finance, Accounting Services Sector Education and Training Authority (FASSET) to offer a 10-month programme that empowers women business owners in the financial services sector to realise their potential and turn their businesses into wealth-creating ventures. FASSET has committed to supporting the Trust with a grant for 3 years, contributing towards increasing the capacity of South African women entrepreneurs in the financial services sector.

the programme will provide them with information and tools to be able to attract investment to grow their businesses from small-scale to larger and more profitable ventures, primarily in Gauteng, Western Cape and Kwa Zulu Natal. Apart from the funding support, the partnership with FASSET offers a unique opportunity for technical support, coaching and mentoring for the entrepreneurs. Studies by the African Association of Entrepreneurs, indicate that gender disparity in South Africa has been a hindrance to the career development of women: poor access to business opportunities and information, lack of capital and assets, low self-esteem and confidence and limited business networks are some of the challenges women in business face. [1]

Through this partnership, women will have access to a wealth of knowledge, expertise. including access to industry experts, business coaches, and mentors, learning how to leverage resources to build sustainable businesses that not only generate income but also create long-term wealth and economic opportunities for themselves and their communities.

"We are proud to work with a South African entity that is aligned with our goal of women economic empowerment. Partnerships are critical to the work we do, FASSET is bringing the resources and we are bringing our expertise and experience of working in 17 African countries helping women grow their businesses exponentially. We look forward to being able to empower a cohort of South African entrepreneurs who've already done the hard of setting up their businesses and growing them to get to the stage that requires new skills and mindset to evolve to the next level" said Shiphra Chisha, Head of Programmes at the Graça Machel Trust.

[1] https://aaeafrica.org/southafrica/female-entrepreneurship-in-south-africa/

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