The mark of a good business often relies on three Ps: profit, people and planet. It's hard to say which 'P' should be prioritized but as the companies on our first cohort of impactful Small Giants will attest, people, be they employees, managers or customers, can make all the difference. Second to that is the proudly African' thread that has been woven through each of these businesses.
The Small Giants are the businesses that believe small is better, and purpose as important as profit, and most times, even more. They are drawn from the Small and Medium Enterprises (SME) sector in Africa that's a sizeable mass, incorporated in the formal and informal economies.
In the 2023 Mastercard SME Confidence Index, the World Bank notes that SMES account for 60% of jobs in Africa. However, they operate in cash-based economies and face a $330 billion financing gap. A 2022 African Union Development Agency report supports this, indicating that SMEs account for closer to 80% of jobs in Africa. These statistics reinforce SMEs as a significant mechanism for socio-economic growth.
StatsSA reported that industries in South Africa's formal business sector, in particular, generated ZAR10.5 trillion ($677.42 billion) in total turnover in the 2019 financial year. The report further stipulated that the breakdown of turnover by business size shows that small businesses were responsible for generating ZAR2.3 trillion ($148.39 billion) of the ZAR10.5 trillion.
To complement our research in compiling this list, we spoke to several of these small businesses, and a significant aspect of the discussion to determine scale revolved around financial revenues, but unsurprisingly, there was a common reluctance among the majority of the firms to share this data.
Diese Geschichte stammt aus der June - July 2024-Ausgabe von Forbes Africa.
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Diese Geschichte stammt aus der June - July 2024-Ausgabe von Forbes Africa.
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THE FOOTBALL CLUB ON THE RISE
STELLENBOSCH FC'S JUNIOR SIDES ARE CONSISTENTLY AMONG THE BEST IN SOUTH AFRICA.
AFTER SOLAR, COMES LEAD.BUT WHERE'S THE BIN?
THE TIME TO PLAN FOR THE SUDDEN INFLUX OF AGED AND DATED SOLAR MATERIALS IS NOW - AFRICA CAN'T AFFORD TO BECOME A TOXIC DUMPING GROUND FOR THE E-WASTE DETRITUS LEFT BEHIND BY SOLAR.
EMMA CHAMBERLAIN'S GREAT AWAKENING
THE 22-YEAR-OLD YOUTUBE SENSATION EARNED AN ESTIMATED $20 MILLION LAST YEAR WHILE BUILDING HER EPONYMOUS COFFEE BRAND. MEET THE CREATOR WHO'S FULL OF BEANS.
THE FORTUNE OF FORESIGHT
NAVIGATING THE COMPLEXITIES OF OUR FUTURE IS BIG BUSINESS - AND BIG MONEY. HERE ARE SOME OF THE MORE EMINENT GLOBAL FUTURISTS OFFERING FRESH INSIGHTS INTO FUTURE TECH AND A BETTER TOMORROW.
6 YEARS TO THE SDCS
CHASING THE WORLD THAT MIGHT HAVE BEEN, AFRICA'S PROGRESS AND RACE TO THE 2030 GOALS.
PURPOSE-DRIVEN & PROUDLY AFRICAN
FROM FINTECH TO FOODTECH SOLUTIONS; FROM BEAUTY BRANDS TO BIOTECH INFUSIONS, FORBES AFRICA'S INAUGURAL LIST OF SMALL GIANTS ACROSS AFRICA SHOWCASES THE TENACITY OF HOMEGROWN BUSINESSES AND THEIR IMPACT ON THE COMMUNITIES THEY SERVE. THEIR PAN-AFRICAN CEOFOUNDERS AND LEADERS ARE MAKING GIANT STRIDES IN PROGRESSING AFRICA'S GROWTH NARRATIVE, PRIORITIZING IMPACT AND INNOVATION.
AT THE INTERSECTION OF CULTURES
DIBAKAR DAS ROY EXPLORES SENSITIVE ISSUES OF RACE, COLOR AND IDENTITY IN HIS FIRST FEATURE FILM SET IN NEW DELHI STARRING NIGERIAN ACTOR SAMUEL ABIOLA ROBINSON.
THOSE LIKELY TO TAKE THE TOP PLACES ON THE PODIUM IN PARIS
AFRICA'S MEDAL HOPEFULS AT THE 2024 OLYMPIC GAMES.
PRICEY PRIDE
AFRICA TOO CAN PROUDLY CLAIM TO BE A SOURCE OF CAVIAR, ONE OF THE WORLD'S GREATEST INDULGENCES. BEING FARMED IN THE FAVORABLE CLIMATE AND TERROIR OF MADAGASCAR ARE SOME VERY EXPENSIVE FISH EGGS A FIRST FOR THE CONTINENT.
TIME TO HIT THE PAUSE BUTTON
EXPERT INSIGHTS INTO HOW WE ARE SURROUNDED BY NOISE 24/7/365 AND IT'S AFFECTING OUR ABILITY TO THINK CLEARLY AND MANAGE STRESS LEVELS, OFTEN LEADING TO EXPENSIVE MISTAKES, AT WORK AND IN LIFE.
