Social entrepreneurship key to unlocking opportunities in S.A

In a recent interview conducted by CNBC Africa, Tina Fiska Henriksen, the Impact Investing Project Manager at the Bertha Centre for Social Innovation and Entrepreneurship, highlighted the crucial role of entrepreneurship and social entrepreneurship in unlocking growth and employment opportunities in South Africa. Henriksen explained that social entrepreneurs focus on both social impact and financial sustainability, ensuring that their ventures contribute positively to society while also being financially viable. One of the key debates within the field of social entrepreneurship is whether to prioritize social impact or profit motive at the outset. Henriksen noted that while some argue for starting with a focus on social impact and then developing the business model, in reality, it often involves a combination of both. She emphasized the importance of creating services or job opportunities that would not have existed otherwise, ultimately benefitting the community and generating financial returns. The Bertha Centre, established five years ago, plays a critical role in supporting social entrepreneurs and fostering innovative finance solutions. Situated at the UCT Graduate School of Business, the centre serves as an idea architect and market builder, offering education and initiating projects like the pathways to funding conference. Through these initiatives, the Bertha Centre connects entrepreneurs with funders, business development experts, and industry professionals, facilitating the growth of social enterprises. Henriksen provided an example of the pathways to funding conference, where social entrepreneurs receive guidance on securing funding for their ventures. The conference includes workshops, one-on-one sessions, and expert-led discussions on various funding options, such as grants and equity investments. By bridging the gap between entrepreneurs and investors, the Bertha Centre has facilitated the launch of numerous businesses that have had a tangible impact on the community. The success of the Bertha Centre's initiatives is evident in the growth of the social entrepreneurship market in South Africa. Henriksen highlighted the emergence of intentional social entrepreneurs and the establishment of social investment funds that are dedicated to providing capital to sustainable ventures. These developments are essential in addressing the job creation challenges faced by the formal sector and driving economic growth. As South Africa and the African continent at large seek innovative solutions to stimulate their economies, social entrepreneurship emerges as a promising avenue for sustainable development. By harnessing the power of entrepreneurship to generate both social impact and financial returns, organizations like the Bertha Centre are paving the way for a more inclusive and prosperous future in the region.