Sunday, July 22, 2018 | Awards: SACCI Chamber of the year 2011; World Chamber Forum Finalist 2013

Enterprise Development

ICHIBI LETHUBA (WELL OF OPPORTUNITY)
Ichibi Lethuba is an Enterprise and Supplier Development Programme offering a competition focused on promoting the participation of small business in our local economic sector.
Some of Ichibi Lethuba’s fundamentals are founded on the dragon’s Den TV series, with a bit of a twist and local flavor which is unique to South Africa and most importantly our community.
The objectives of Ichibi Lethuba are business growth; linkage with procurement opportunities, job creation for participating SMME’s and to assist investors in applying the funds in order for them to claim BBBEE recognition.
Enterprise Development, Supplier Development and Preferential Procurement are priority elements for the revised BBBEE codes for Good Practice. Ichibi Lethuba assists corporate companies with BBBEE scorecard recognition. Claiming points or recognition and meeting all three categories requirements of sub-minimum of 40% in order to claim points on Enterprise and Supplier Development element. If all three categories requirements are not met, the company will raise a BBBEE level. The lower the BBBEE score, the better the company contributions to BBBEE.  

  • SMME’s enter into the Ichibi Lethuba competition with a company profile.
  • A shortlist of 20 candidates is made.
  • The 20 candidates go through 2 different assessments from different service providers.
  • The judges invite the top 20 selected candidates for further interviews
  • The top 10 candidates go through intense business & soft skills training and an on-line business plan training program to apply the training principles acquired.
  • Submission of business plans for perusal to the judges.
  • Each SMME then receives a one-on-one mentoring for a period of 5 months, working on their businesses and creating linkages.
  • Adjudication
  • Gala event
  • Post-Mentoring

After mentoring and training the SMME’s present their businesses and current status to the judges. The judges evaluate their input, suggestions and scrutinize their businesses and model. This will also prepare the SMME’s for their presentation on the gala evening. Based on the judges appraisal the SMME will get to make well-versed changes if they deem necessary before their closing presentation at the gala event.

The action packed gala event is open to the top 10 candidates, judges, mentors, service providers and all relevant stake holders. During the event the SMME’s present their businesses to the judges and audience in attendance and the program directed by a Master of Ceremonies.


Ernest Belcher, Kagiso Maupe - Assessment


Busi Mtsweni, Kagiso Maupe - Assessment
   
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