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Thursday, 04 September 2014 09:46

Endeavor South Africa announces new Board

20140904 Ajen-Sita 210JOHANNESBURG – Endeavor South Africa is proud to announce that five of South Africa’s top business leaders have joined the Endeavor Board. They will be serving alongside Hlumelo Biko, Co-founder, Spinnaker Growth Partners; David Frankel, Managing Partner, Founder Collective; Carlo Gonzaga, CEO, Taste Holdings; Adrian Gore (Chairman), CEO, Discovery; Paul Harris, Non-Executive Director, RMB Holdings; Isaac Shongwe, ‎Non-executive Chairman, Letsema Holdings; and Michael Vacy-Lyle, CEO, FNB Commercial Banking.

Our new members are: Herman Bosman, CEO, RMB Investment Holdings; Innocent Dutiro, Partner, Bain & Co SA; Nic Kohler, CEO, Hollard Insurance; Willem Roos, Joint CEO, Outsurance; Ajen Sita, CEO, EY Africa; and Barry Swartzberg, Executive Director, Discovery.

From the above it is abundantly clear that Endeavor South Africa’s Board members are world-class CEOs, business leaders and investors. Without their wisdom and financial support, Endeavor would not be able to achieve the success that it has over the last 10 years. They share the Endeavor values and are passionate about our mission to catalyse long-term economic growth by selecting, mentoring and accelerating the best high-impact entrepreneurs.

Endeavor South Africa MD, Catherine Townshend, believes that the board is one of the most impressive in the country. “We have some of the best business minds serving on our board; and this reflects Endeavor’s global standing as a network of world-class CEOs, business leaders, investors and academics who are committed to accelerating high-potential entrepreneurs, driving South Africa’s job creation needs and creating our next class of South African Entrepreneurial leaders.”

Endeavor is the only organisation to focus on the scale-up, not the start-up, because that is where we think the highest job and wealth creation happen. Endeavor Insight—the organisation’s research arm, launched with seed funding from the Omidyar Network—conducted studies based on World Bank surveys in a number of emerging markets. The data shows that while scale-ups represent just six to twenty percent of businesses, they contribute the lion’s share of net new jobs, anywhere from 25 to 91%!

Globally, Endeavor has selected 948 entrepreneurs and supported them to create more than 225 000 high-quality jobs throughout our 20 affiliate offices.

In South Africa, we have screened more than 2 000 entrepreneurs and selected more than 60. Since 2004, this portfolio has generated in excess of 12 000 high quality jobs and contributed billionsillion in revenues to GDP.

Ajen Sita says that he is extremely impressed with the work that Endeavor does, and is very proud of the partnership between EY and Endeavor. “By finding and supporting these high-impact entrepreneurs, we hope to create even more jobs and generate even more revenue.”

Nic Kohler is similarly inspired: “I’m enormously excited about making a contribution to the development of entrepreneurs in South Africa,” he says. “Our country’s unemployment and related inequality challenges cannot be addressed without meaningful growth of scale-ups that go on to employ many more people. Endeavour provides exceptional support for entrepreneurs, and is consequently a great instrument for social good – I am proud to be able to work with a team with such a successful track record in this important arena.”

Click here to view our Board members