ETHEKWINI NEWSFLASH
FOR IMMEDIATE RELEASE
35 ENTREPRENEURS AFFORDED OPPORTUNITY TO PITCH
The Durban Chamber of Commerce became a focal point for strategic investment today as 35 finalists of the KZN Oils ESD Project 10X Unicorn Programme delivered high-stakes pitches to a specialised jury.
The session marked a critical milestone in a collaborative effort to transition local SMMEs from the margins into the mainstream economy.
The initiative is powered by a strategic Public-Private Partnership between the eThekwini Municipality, the KwaZulu-Natal Department of Economic Development, Tourism and Environmental Affairs (EDTEA), and KZN Oils (Pty) Ltd.
Together, these entities are committed to empowering township and peri-urban talent by providing the technical "know-how" and resources necessary to scale.
Throughout the day, finalists presented diverse business models focused on technical viability and long-term scalability. As a cornerstone of the Enterprise and Supplier Development (ESD) initiative, the 10X Unicorn Programme aims to fast-track these businesses into the KZN Oils Group value chain.
“By witnessing these 35 entrepreneurs pitch today, we are seeing the direct result of a partnership that moves local businesses into the heart of our operations,” stated Khungeka Gojo, Business Support Programme Manager.
“This is about creating a tangible bridge between potential and market integration.”
The programme builds on a successful pilot phase where participants achieved significant gains in financial literacy and market readiness.
Under the current structure, KZN Oils serves as the programme custodian, while EDTEA has committed financial support of up to R250 000 for qualifying enterprises.
This support is bolstered by structured mentorship and incubation designed to ensure sustainable growth.
The ultimate goal of the partnership is to cultivate "unicorns" - resilient, high-growth businesses capable of driving regional employment and poverty reduction.
By providing this platform, the 10X Unicorn Programme is not just funding businesses; it is fuelling the next generation of industrial leaders in KwaZulu-Natal.
ENDS
Issued by eThekwini Municipality’s Marketing and Communications Directorate
