The Transformation Legacy x Coface SA. Empowering Black female township entrepreneurs

The aim of the masterclass was to equip Black female township-based small and medium enterprises (SMEs) with essential financial knowledge and business tools. This initiative is a key step in advancing financial empowerment and sustainability among South Africa’s township businesses.

Building on the success of the annual Female Township Entrepreneur Summit, which welcomed 100 female entrepreneurs, this masterclass focused on bridging the financial literacy gap that many female entrepreneurs face in their personal lives and business.

The focus of the session was to close the financial literacy gap, empowering participants with practical strategies for personal and business financial management.

Key focus areas included:

• Financial Literacy: Budgeting, goal setting, and understanding how to earn, save, and invest.
  
• Financial Wellness: Cultivating the mindset and habits necessary for financial discipline and purpose.
  
• Financial Growth: Building income streams, reducing anxiety, and fostering financial resilience.
  
• Business Financing: Separating personal and business finances, accessing funding, and reinvesting for

The day featured two inspiring speakers, Mandisa Mtembu a mental health and safeguarding expert, who spoke about the impact that financial stress has on our mental well-being, decision-making, and motivation. Through reflection and conversation, Mandisa helped the entrepreneurs understand how emotional triggers affect their financial habits and offered tools for building financial resilience.

Mapitso Mphahlele, chartered business accountant (BAP)SA, led practical sessions on financial systems, budgeting, and growth strategies. She provided tools on how to build personal money system,and encouraged entrepreneurs to see their businesses as vehicles for long-term wealth creation She offered invaluable insights into building disciplined habits and positioning businesses for long-term success. “Financial transformation is 80% behaviour and 20% knowledge,” she emphasised.

“We recognise that financial literacy is a critical component in the growth and sustainability of female township-based businesses, “Through this initiative, we aim to empower entrepreneurs with the financial skills and resources necessary to make informed business decisions, increase profitability, and ultimately contribute to economic transformation.” – Sibusiso “Busi” Raphekwane – CEO- The Transformation Legacy

This initiative aligns with The Transformation Legacy’s mission to equip entrepreneurs with skills and tools for achieving business growth and creating generational wealth through education, mentorship, and capacity-building programmes. We want to ensure that female entrepreneurs are not just participants but active contributors to the economy by having the skills, knowledge, and networks to build sustainable, scalable businesses.

A powerful partnership with Coface South Africa

Coface SA is a key partner in this Masterclass. By investing in the initiative, Coface demonstrates a strong commitment to transformation, economic empowerment, and the development of township-based SMEs.

“We are excited to partner with The Transformation Legacy in launching the Financial Wellness and Literacy Masterclass. This initiative reflects our commitment to empowering Black female township-based small and medium enterprises (SMEs). By providing essential financial knowledge and business tools, we aim to enhance financial literacy, support sustainable business growth, and foster long-term success within these communities.

As a leading trade credit insurer, Coface South Africa plays a vital role in helping businesses better manage risks, which directly contributes to the financial well-being of businesses across the country. Through this partnership, we are not only contributing to the development of financial wellness but also reinforcing our commitment to advancing economic empowerment and creating inclusive opportunities for all South Africans.” – Kavita Ramjee – chief HR officer – Coface South Africa

The Financial Wellness and Literacy Masterclass is one of many impact-driven programmes led by The Transformation Legacy to inspire, equip, and uplift entrepreneurs, especially women, towards financial resilience and sustainable business success. With partners like Coface South Africa, TTL continues building legacy businesses that fuel the township economy and create generational change.