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30 Baker Building
Partnerships 31 Jul 2024

Empowering South Africa's Youth and Driving Entrepreneurship

At Standard Bank, we are committed to driving growth across Africa, recognising the continent's youthful population as a pivotal force for change. Our collaboration with the UCT (University of Cape Town) Genesis Project is a testament to this commitment, aiming to nurture and support the next generation of entrepreneurs.

The UCT Genesis Project is not just about starting a business; it's about fostering an entrepreneurial mindset essential in both personal and professional spheres. Whether you choose to embark on your own venture or join a corporate environment, innovative and creative thinking is key.

Theunis Duvenhage, Provincial Head, Client Coverage, Personal and Private Banking, Western Cape, captures the essence of this journey:

“Success doesn't come overnight. It's a journey and we want to be there every step of the way and that's really what we aspire to do throughout your life journey. We support you and your family so you can really achieve everything that you want to achieve in life.”

The project encourages participants to dive deep into the real world, tackling pressing issues and developing practical solutions. It's about finding problems worth solving and building the resilience to navigate the challenges that come with entrepreneurship. This real-world immersion helps young entrepreneurs understand the nuances of business management and personal financial capacity, which are critical for long-term success. Stuart Hendry, Course Convenor of the Genesis Project at the University of Cape Town, shares the value of the Bank’s partnership with the Genesis Project:

“It’s not easy to be an entrepreneur in South Africa, which is why our partnership with Standard Bank is so powerful. We have the biggest bank in Africa working with the top university in Africa to build entrepreneurs. I love it. I think it’s a perfect symbiosis.”

As an organisation, we believe that entrepreneurship is about solving problems and creating solutions that matter. The Genesis Project encourages young minds to identify challenges that keep them awake at night and to develop innovative solutions to address them. From business planning to implementation and fundraising, the Project covers every aspect of the entrepreneurial journey.

Standard Bank's commitment to supporting youth goes beyond mentorship and resources; we also offer financial solutions such as student loans. These loans are designed to help young people access the education they need to pursue their entrepreneurial dreams. By easing the financial burden of higher education, we empower students to focus on their studies and develop the skills they need to succeed.

Entrepreneurship is inherently about making mistakes, learning from them, and building resilience. Starting young allows individuals to develop a robust approach to life, learning through real-world experiences. At Standard Bank, we play a key role in offering graduate programmes and creating opportunities for the youth, ensuring they have the support and mentorship needed to succeed. By investing in the UCT Genesis Project, we're not just empowering entrepreneurs but nurturing future leaders who will drive Africa's growth.

Africa is our home, and we drive her growth.