StreetLab AfriKa signs Business Doctors for Development Program
March 24th, 2016
StreetLab AfriKa today announced its decision to conclude a Memorandum of Understanding with Business Doctors Africa in its strategic vision to create unique econimic and social growth opportunities at grass-root level in the South African Small and Medium Enterprise (SME) landscape.
StreetLab AfriKa is a non-profit company (NPC) established on a mandate of coordinated developement of youth entrepreneurs. The model is anchored on packaged solutions and functional synergies-based collaborations with selected technical partners, including specialist service providers.
This in turn is anchored on a mentor-based, small-business incubation platform, hosted by StreetLab AfriKa in the technical and economic development of participating SME's.
In its appointment of Business Doctors, Letele Mokothu, the Managing Partner for StreetLab AfriKa, stated that the search for a suitable partner to the project was a long and testing one, with many frustrations and disappointments as part of the process. He concluded that in dealing with Henk Stander and his Business Doctors team, he felt comfortable from the outset that he had found a service vendor that not only fits the professional makeup that StreetLab AfriKa required, but also one that is willing to go the extra mile in its service offering under very unique socio-economic challenges.
As a key strategic decision and effective 1 April 2016, StreetLab AfriKa will adopt the Business Doctors' value builder model, key practices and step-by-step methodologies in identifying and building growth-areas of the participating SME network, not only in their individual capacities, but also as a collective group under the StreetLab Africa banner.
With the initial project scope already covering more than 40 registered SME's from Cape Flats region and new participants being signd-up daily, Mokhothu anticipates the interest in the StreetLab AfriKa initiative to outgrow initial forecasts and to include wider regions of South Africa much sooner than expected.
The 3-year MOU between the parties commits to in-depth strategy programs with the StreetLab AfriKa SME's and youth entrepreneurs, with long-term plans to drive and measure operational results and in particular, the anticipated success in SME business growth. To this end Business Doctors will have a hands-on approach in participating, measuring progress and consulting with StreetLab AfriKa and their associated business- and community-partners.