De Beers Launches Business Incubator

De Beers Launches Business Incubator

De Beers has launched the second business incubator close to the Venetia Mine operation in Limpopo. The accelerated development programme’s purpose is to develop up-and-coming entrepreneurs.

These include small, medium and microenterprises from mining companies. The programme will provide support to 40 entrepreneurs—20 from each municipal area in two separate areas in Blouberg and Musina. The incubation programme started in August with two workshops that targeted existing and aspiring entrepreneurs.

Classroom training will run monthly and will cover topics such as market research, financial management and operational management—ultimately contributing towards a bankable business plan.

“The mining sector has a key role to play in the socio-economic development of our region,” says Gregory Petersen, De Beers’ senior commercial manager, Enterprise and Supplier Development for Consolidated Mines.

One-on-one sessions with entrepreneurs will assist mentors in evaluating their progress and providing meaningful coaching and support. Once the programme has been completed, the best and the brightest will be selected for the next phase of the programme, which includes access to funding and further training and development. “By empowering and promoting small local business we hope to contribute to towards economic growth and job creation,” concludes Petersen.