This week marked the end of the first round of the 2024 Nedbank Pitch & Polish competition, revealing which of the original 16 contestants will move through to the 2nd round – taking them 1 step closer to the 1st prize worth an impressive R1 million. While the journey of 8 talented contestants has come to an end, they leave the competition armed with improved business skills and valuable insights gained through the immersive learning experience and one-on-one mentorship provided by Raizcorp.
As in previous years, the top 8 finalists represent a diverse range of businesses – from a resource- and money-saving utility management platform to a chain of specialist dreadlock salons and a range of innovative at-home health testing kits. Curious to hear their thoughts on the competition so far? Find out what the top 8 had to say!
Keenan George
Smart-View Technology, Western Cape
At a time when everyone is looking for ways to cut costs and conserve resources, Keenan George has found a way to do both. His Smart-View utility management system – focusing on water, electricity and gas – optimises utility consumption for businesses, allowing business owners to make data-driven decisions that lead to more sustainable, cost-effective operations.
Has the Nedbank Pitch & Polish experience changed you in any way?
The experience has significantly boosted my confidence and sharpened my entrepreneurial skills. It has also broadened my network, connecting me with other like-minded entrepreneurs and industry experts.
Why do you think you deserve to win?
I believe I deserve to win because my business addresses a critical market need with a unique and innovative solution. Our utility management platform not only promotes sustainability but also helps companies reduce costs and improve operational efficiency. Winning this competition would enable us to scale our impact and contribute positively to the industry.
Bandile Fihla
Masigcobe Holdings, Eastern Cape
Is there anything new parents want more than a decent night’s sleep? Well, Bandile Fihla has made it his business to ensure they get it! His business produces and sells a natural remedy, Iyeza LePleyiti. It offers relief from the pain and discomfort associated with colic in infants and is based on a trusted family recipe that has been refined over the years.
Why do you think there’s a market for your business in South Africa?
Worldwide, colic affects approximately 20% of infants and South Africa is no exception – this presents us with a significant market opportunity. South Africans are increasingly seeking natural, holistic approaches to healthcare and the market for locally manufactured, all-natural colic remedies isn’t yet saturated.
What gives you the competitive advantage in the competition?
Masigcobe Holdings already has a strong distribution network with established relationships with pharmacies, retailers and online marketplaces. We’re also a Proudly South African company as everything from our ingredient sourcing to manufacturing is done locally.
Luthando Mchiza
Perfect Drilling, KwaZulu-Natal
The team at Perfect Drilling believes that water is a basic need for all. They work closely with the government and private sector to provide geotechnical services, including borehole drilling, water-quality testing, water purification and filtration systems to homes, farms and schools in previously disadvantaged villages.
Which judge were you most nervous about pitching to?
I was most nervous about standing in front of Allon Raiz because I’ve followed both his career journey and that of Raizcorp for years and have seen him create this giant business. I also know that he’s incredibly attentive so I knew that one little mistake in my pitch could easily lead to elimination.
What has been the most important lesson you’ve learned so far?
I’ve learned so much about money management and my business’s finances. Participating in the competition and listening to the judges’ feedback also encouraged me and the other company directors to focus on securing private-sector clients, rather than relying solely on the public sector.
Cheslin Denman
Innoble, Gauteng
Running a business involves a fair amount of paperwork and there are a lot of admin and compliance boxes to tick. Techpreneur Cheslin Denman has created Innoble, a digital platform that simplifies the burden of compliance administration, tracking and notification for SMMEs – it even matches businesses with nearby market-funding opportunities.
What was it like to stand in front of the three judges for the first time?
On day one, it was crippling – I honestly felt my knees shake and completely lost my words. But now that I’ve made it to round two, I believe it’s simply a process of explaining my business to three people who have an interest in listening to me.
Why is there a need for your business in South Africa?
There is a massive market for my business as there are 900 000 small- and medium-sized businesses in South Africa and compliance is a massive barrier to entry – even those who do get it right often later fail to maintain it. Innoble automates the compliance process for businesses, giving them the confidence to trade knowing they’re compliant – it’s like a stamp of approval. It’s a game-changer.
Sibongiseni Mngadi
Zinacare, Gauteng
With Zinacare’s healthcare tests, you can skip the doctor or clinic visit and have various non-invasive health test kits delivered to your door that allow you to self-collect a medical sample, which will be picked up from your doorstep by a courier and sent to a lab for testing. The service fee includes the cost of sending the sample to the lab, and you receive your confidential results within 48 hours. How’s that for convenient and hassle-free healthcare?
Why do you think there’s a market for your business in South Africa?
There is a need to improve access to quality healthcare in South Africa. Our public healthcare system is strained and private healthcare remains unaffordable and inaccessible to more than 70% of people in our country.
What gives you the edge in the competition?
At-home health tests like mine are still in their infancy globally. Zinacare is the only self-collection lab testing service in the African market.
Phumulile Mkhonza
PSD Scent Perfumes, Mpumalanga
Meet the fragrance queen, Phumulile. Her business is a manufacturer and wholesaler of perfumes, personal body care products like fragranced body lotions, body butter and tissue oil. She recently expanded her range to include homecare items like natural reed diffusers, scented linen sprays and car air-fresheners. Phumulile proudly offers perfume filling and capping services for emerging perfumers in the market and supplies her products to lodges, guest houses and hotels.
Why did you enter Nedbank Pitch & Polish?
I entered the competition to polish my pitching skills and refine my business model. Making it through round one has shown me that I need to pay closer attention to my business’s financials, and I’ve already changed my marketing strategy as a result of the feedback I received from the judges in round one.
Do you think there is enough support for entrepreneurs in South Africa?
I don’t think there is enough support for South African entrepreneurs. There should be more programmes that assist and support small business owners in the crucial areas of financial literacy, marketing and operations.
Braden Snyman and Avi Maja
Breaze Delivery, Gauteng
Braden and Avi are the dynamic duo behind Breaze Delivery, a platform that connects over 700 drivers with clients on online ordering platforms to facilitate fast and affordable deliveries, including same-day and on-demand (60-minute) delivery for e-commerce merchants. Over 100 clients are connected to their platform and, in the past 12 months, they have paid out R3 million in revenue to their drivers.
Why do you think your business has potential?
E-commerce in South Africa is growing exponentially, resulting in a change in customer expectations. Customers no longer want to wait 2 to 5 days for their orders to arrive unannounced with little visibility of the ETA. Breaze Delivery is geared for quick-commerce deliveries with live tracking and communication with drivers.
Do you think there’s enough support for entrepreneurs in South Africa?
No, there is not enough support for startups in South Africa. There are a lot of regulations causing red tape hurdles, high legal fees and a lack of funding to help entrepreneurs get their businesses off the ground. We believe the government needs to offer incentives to banks for startup funding and more accelerator/propeller funds to increase the success rate of startups, which will have a positive impact on unemployment in South Africa.
Xolani Nombenu
XTLS Dreadlocks Specialist, KwaZulu-Natal
Xolani and his business partners run 3 thriving salons in KwaZulu-Natal that provide high-quality products and services to help their clients grow dreadlocks from scratch and maintain healthy locs. They are on a mission to encourage Africans to love and embrace their natural hair and pride themselves on providing skills and employment opportunities to previously disadvantaged youth.
What’s the most important lesson you’ve learned from Nedbank Pitch & Polish?
Through the 1-on-1 mentorship and entrepreneurial learning programme provided to the contestants, I’ve learned how to set my business up to scale. I’ve also learned a lot about marketing and advertising, and the importance of implementing proper business systems and processes. And, of course, I’ve learned how to organise and execute a great pitch!
Why do you think there’s a market for your business in South Africa?
The hair industry in South Africa is worth billions and it’s growing every year – people are also starting to move away from using relaxers and are embracing their natural hair. I see this happening in the market as my clientele is growing by more than 25% every year.
DID YOU KNOW?
Nedbank Pitch & Polish airs on Tuesdays at 19:00. Tune in to the PITCHandPOLISH YouTube channel to watch as the battle of the pitches continues.
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