South Africa’s economic future depends heavily on the success of small and medium-sized enterprises (SMEs). That is why entrepreneurship plays a crucial role in economic and social transformation in South Africa. Lisa Ngcolomba, CEO at Fetola, has been supporting SMEs and impact-driven ventures for 20 years. To him, assisting entrepreneurs is not just about profit. It is about building communities, creating jobs, and strengthening the economy.
Why SMEs Matter
Ngcolomba is passionate about SMEs because they are central to job creation, community development, innovation, and resilience. “SMEs are at the heart of economic growth, yet they remain one of the most under-supported sectors,” he says. What drew him to work on this work was the opportunity to bridge the gaps, develop programmes, and build partnerships that give entrepreneurs the tools to succeed.
The Ripple Effect of Supporting Entrepreneurs
“Talent is universal, but opportunity is not,” Ngcolomba explains. “Supporting local entrepreneurs has a wider impact than just growing individual businesses. A business owner may establish several enterprises, each providing employment. Effectively, one entrepreneur can change over 25 lives. This is a ripple effect that makes it significant to invest in SMEs in social and economic development.”
Fetola’s Mission and Impact on SMEs
Fetola, which means “change”, helps entrepreneurs start, grow, and scale their businesses. By working with funders and philanthropic partners, the organisation provides strategic support and access to finance. Ngcolomba highlights the success of Fetola’s programmes. “Over 85 percent of our alumni businesses are still active ten years after the programme, nine times the national average.” This shows the long-term impact of structured support.
Funding Challenges for South African SMEs
Access to funding remains a strong challenge for SMEs. Ngcolomba explains that a mismatch exists between available capital and businesses ready to receive it. A recent South African MSME Access to Finance 2025 report shows that R350 billion in financial support is not fully accessed because entrepreneurs are not always prepared or able to present a compelling business case. Fetola’s investment readiness programmes address this by helping businesses become investable through strong financial systems, variable business models, and disciplined growth strategies.
Fetola’s Programmes That Are Making a Difference
Youth Startup Programme
Supporting 18 to 35-year-olds, this programme helps young entrepreneurs test ideas using design thinking and innovation.
FNB Youth Start-Up Accelerator
The FNB Youth Start-up Accelerator, a partnership between FNB and Fetola, is for Mzansi’s movers and shakers, hustlers and innovators; aspiring entrepreneurs who are young, intelligent, enthusiastic, and passionately driven to succeed.
Circular Economy Accelerator
The Circular Economy Accelerator (CEA) is an end-to-end business growth and leadership development solution that empowers entrepreneurs to succeed as thriving, profitable SMEs operating in the sustainability and circular economy space.
Tourism Business Programme
In partnership with Booking.com, this programme helps rural hospitality businesses owned by historically disadvantaged persons build sustainable and develop tourist destination businesses that benefit their communities and the environment. This is happening in Kwa-Zulu Natal, the West Coast, and Mpumalanga.
Ngcolomba emphasised that access is merit-based, not fee-based. “Our recent SAB Foundation Programme received over 12 00 applications, yet 50 to 60 businesses were selected. The demand is immense.”
South African Future Trust Summit 2025
Lisa also shared insights at the SAFT 2025, a two-day event at the Sandton Convention Centre in Johannesburg. He was the moderator for the panel session “Funding Readiness – The Provocative Truth. “Events like this are crucial for entrepreneurs who want to gain exposure, refine their business models, and access investment opportunities that can accelerate growth,” Lisa said.
The panel addressed one of the biggest challenges for African entrepreneurs: accessing funding. Investors often highlight the shortage of “funding-ready” businesses while entrepreneurs feel excluded. The discussion explored investability, financial management, business models, operational discipline, and growth strategy. SAFT 2025 involved workshops, networking, and The Big Pitch, where entrepreneurs had the opportunity to win an investment of US $ 1 million.
Practical Advice for Entrepreneurs
Lisa encourages entrepreneurs to take only the capital they need, manage cash flow carefully, build stronger teams, and use available networks and resources. “Be kind to yourself and to other entrepreneurs as well,” he says. Entrepreneurship is demanding but essential. South African SMEs create over 60 percent of jobs and contribute more than 40 percent of GDP.
Build Stronger Communities
Lastly, Lisa brought out the need to nurture the local communities. “Celebrate how far you have come, learn from challenges, and continue building the communities you come from. Real change happens not just in boardrooms but in towns and neighbourhoods where entrepreneurs live and work.”
Through his work at Fetola, Lisa shows that entrepreneurship is more than business. It is a transformation. With the right support, structure, and readiness, South African SMEs can drive meaningful change and help the country’s economic future.
