Speaking at the launch, Dr Steven Zwane, managing executive of corporate citizenship at Absa Group, said that the funding reinforces Absa’s commitment to financial inclusion through entrepreneurship. “This investment is a tangible display of like-minded organisations coming together to drive research-based outcomes that enable innovation in the entrepreneurial landscape. All with the ultimate ambition of supporting efforts to create jobs and grow our economies, while addressing entrepreneurship,” he said.
According to the deputy dean of Gibs, Professor Louise Whittaker: “This partnership between Gibs and Absa marks a significant milestone. By joining forces, we will leverage our collective expertise in business education and financial services to create impactful opportunities for aspiring entrepreneurs.”
The school-based incubation programme is targeted at youth in school, as young people who are entrepreneurially minded and enterprising are important in shaping the future of our continent. The programme will position entrepreneurship as a viable career choice among high school students and school leavers. Its objectives include establishing hubs of entrepreneurial activities within schools, training teachers to become advocates for startups, and creating a scalable implementation model for South Africa and partner schools in Kenya and Ghana.
“Scaling up coverage across our pan-African markets is intrinsic to Absa’s social impact approach. Simply stated, our efforts need to transcend South Africa and through this partnership, Gibs and Absa will build sound research partnerships with universities in East and West Africa as part of the process to ensure research based entrepreneurial interventions that will ultimately have a lasting impact,” added Dr Zwane.
To this end, the partnership aims to bridge the gap between theory and practice by promoting practical scholarship and innovative thought leadership. The goal is to connect theoretical concepts with real-world applications, particularly in African entrepreneurship. This will be facilitated through initiatives that will empower both scholars and practitioners to contribute significantly to events, white papers, research papers, thought leadership articles, among other things. Ultimately, the aim is to drive sustainable entrepreneurial growth across the continent.
The collaboration will also see the launch of the inaugural Absa African Entrepreneurship Index which will incorporate input from schools in Ghana, South Africa and Kenya and will be launched in 2025. The index seeks to provide data that will enable entrepreneurial action to thrive on the continent.
“Together, we envision a future where innovation flourishes, businesses thrive, and communities prosper; this all starts with a focus on our youth. This collaboration underscores our shared dedication to driving positive change and shaping a brighter tomorrow for Africa," concluded Dr Zwane.
