InoBiodiesel Emerges Winner of She’s Next Grant Funding Competition

Johannesburg, South Africa, 20 September 2024 — Visa in partnership with Absa is proud to announce Mahlatse Mamaila, of InoBiodiesel as the overall winner of the prestigious 2024 She’s Next South Africa competition. This initiative is part of Visa's ongoing commitment to fostering an inclusive and equitable environment for female entrepreneurs. She’s Next supporting women-owned small businesses, offering crucial funding, comprehensive training, and valuable mentorship.

As the grand prize winner, Mahlatse Mamaila, of InoBiodiesel has been awarded a R400 000 monetary grant. Coming in second place Tshego Molefi, of Moli and Mela Group received R250 000, while R170 000 was granted to, Pretty Kubyane, of eFarma App who took third place.

Taking the Social Impact honour, Moli and Mela Group received R170 000.  This category recognizes and supports entrepreneurs whose businesses are focused on creating positive social change by addressing and resolving critical issues in their communities. Their ventures not only generate economic value but also deliver measurable benefits to society.

Commenting on the anticipated impact of the program, Mahlatse Mamaila, Founder of InoBiodiesel shared that; “Being recognized by Visa and Absa is a powerful endorsement of our efforts and the impact we aspire to make. This program validates our belief that every small step matters and strengthens our commitment to our mission. The support from this grant, combined with the training and opportunities provided, will be crucial in enhancing our capacity and expanding our market reach. It will also enable us to create more employment opportunities within our value chain, driving broader positive change.”

Country Head for Visa, South Africa Lineshree Moodley expressed her enthusiasm stating “Congratulations to all the winners of the 2024 She’s Next competition. It is an honour to be part of their journey, recognizing and celebrating the innovation they bring into the local market. At Visa, we acknowledge the unique challenges that come with building a business, especially for women entrepreneurs who often face additional barriers and through the scaling of this programme and our partnerships, we aim to empower even more women in the coming years, ensuring that they have the support to grow their businesses, grow sustainably, and contribute to a more inclusive economy,” adds Moodley.

In addition to the top five finalists, 25 additional SMEs have been selected to participate in an exclusively tailored capacity-building and mentorship program, developed in partnership with Absa. This initiative is designed to further support and empower women entrepreneurs, providing them with the tools and guidance needed to elevate and develop their businesses.

As Absa, we continually ask ourselves what we can do to create opportunities and to elevate the stories of our stakeholders,” says Sanah Gumede, Managing Executive for Strategy and Customer Value Management at Absa Relationship Banking. “Given the specific challenges business owners face in starting and growing their businesses, we continue to be inspired by the entrepreneurs, particularly women, who find ways to get things done no matter the stumbling blocks. Those who rise to the occasion and respond with agility, bravery and conviction. Congratulations to all the finalists and winners. We celebrate your success and we look forward to walking the journey with you for many years to come.”

This year the competition attracted a multitude of applications from SMEs across the country, each presenting innovative solutions within sectors such as renewable energy, waste management and environmental services, jewellery, agritech and construction.

About Visa Inc.

Visa Inc. (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, reliable, and secure payment network, enabling individuals, businesses, and economies to thrive. For more information, visit www.visa.co.za.

About Absa Group Limited

Absa Group Limited (‘Absa Group’) is listed on the Johannesburg Stock Exchange and is one of Africa’s largest diversified financial services groups. 

Absa Group offers an integrated set of products and services across personal and business banking, corporate and investment banking, wealth and investment management and insurance. 

Absa Group owns majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania (Absa Bank Tanzania and National Bank of Commerce), Uganda and Zambia and has insurance operations in Botswana, Kenya, Mozambique, South Africa and Zambia. Absa also has offices in China, Namibia, Nigeria and the United States, as well as securities entities in the United Kingdom and the United States, along with technology support colleagues in the Czech Republic.

For further information about Absa Group Limited, visit www.absa.africa.