SA’s De Beers Mine launches business incubator

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A business incubator has been launched by De Beers Group’s Venetia mine in South Africa to assist budding entrepreneurs and enterprises in mining communities.

The programme is run by the specialist mentoring and training company TrioPlus and will provide support to 40 businesses or entrepreneurs – 20 each from Blouberg and Musina.

It began in August with two workshops targeting existing and aspiring entrepreneurs. Monthly

classroom training will cover topics such as market research, financial management and operational management, ultimately leading to a bankable business plan.

The incubation programme at Venetia mine in the Limpopo Province follows the one launched in June by Voorspoed mine in the Free State, which has so far supported 45 entrepreneurs.

“By empowering and promoting small local businesses, we hope to contribute to economic growth and job creation,” said Gregory Petersen, senior commercial manager for enterprise and supplier development for De Beers Consolidated Mines.

De Beers, he said, was excited by the potential for these businesses to participate in the diamond pipeline and was running development initiatives to promote them.

Disrupt Africa reported in August De Beers had partnered the Stanford Graduate School of Business in a three-year, US$3 million programme aimed at empowering young entrepreneurs and owners of established businesses in Botswana, Namibia, and South Africa through two new educational programmes.

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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