A Tale of Entrepreneurial Success

The winner of Business Partners Limited’s 2023 Entrepreneur of the Year® (EOY) title knows that persistence pays. Theo Baloyi founded his award-winning sneaker brand Bathu in 2015 in Alexandra township and in 2019 was named Emerging Business Entrepreneur in the EOY awards. In the four years since, he has kept on building his business and his entrepreneurial skills, leaving the judges no choice but to award him the big title and the grand prize of R250 000 in cash when he entered again this year. In addition, Baloyi clinched the title of 2023 Job Creator of the Year.

“Theo and Bathu encapsulate the reason for EOY’s existence,” says David Morobe, executive general manager: impact investing and Entrepreneur of the Year® spokesperson. “Business Partners Ltd supports entrepreneurs with the financial and technical team to turn their ideas, determination and drive to successful and flourishing businesses that help to alleviate the high unemployment rate in our country. Through the EOY, we celebrate the successful entrepreneurship.”

Over the past eight years, Bathu has grown from an idea to a business with a footprint of 32 stores nationwide and employing more than 300 people – a hundredfold increase from the three people who worked for him at the start. In his acceptance speech, Baloyi said that it was “sheer determination” that drove a passion in him to create a sneaker that is “aesthetically pleasing to the eye but also reflective of the country’s rich and diverse culture. He added: “It is my community in Alexandra that inspires me to do what I do, a passion that defies all forms of disadvantages.”

Having been on hold since 2020 when Covid-19 prevented the competition from going ahead, Business Partners Ltd relaunched Entrepreneur of the Year® this year. “There is no better time to reintroduce the competition because, now more than ever, we need to appreciate the importance of entrepreneurship as the path towards a better South Africa, and to celebrate the successful entrepreneurs who are getting us there,” says David.

In recognition of the never-say-die attitude of South Africa’s entrepreneurs – even in the face of the disruption and destruction wrought by the global pandemic – the Resilient Entrepreneur of the Year® was introduced as a new category in 2023.

“Entrepreneurship is what keeps our economy competitive and dynamic, able to adapt to changes and challenges in the world,” says David. “It is the dynamo through which the latest technology is applied so that everyone benefits from it. It drives social changes, lifts people out of poverty and spreads wealth throughout society.”

He concludes that the 2023 Entrepreneur of the Year® winners are all shining examples of what can be achieved when support meets true entrepreneurial flair. “We are already looking forward to next year’s entries!

The other category winners

Emerging Business Entrepreneur of the Year: Tinny Nkuna, for her business, Lindiwe Sanitary Pads. The company manufactures and distributes high-quality and affordable sanitary pads that meet the needs and budgets of women living in Africa. Nkuna is also a member of the International Trade Centre’s prestigious SheTrades initiative.
Small Business Entrepreneur of the Year: Damien Seid, co-founder of Company Wellness Solutions, a tech-based and people-centric business that is one of the fastest-growing full-stack wellness companies in the country. It specialises in employee assistance programmes, wellness days and programmes. Company Wellness Solutions also offers free health, engagement, lifestyle and presenteeism assessments that can help leadership teams build healthier, happier workforces.
Medium Business Entrepreneur of the Year: Sergio Luiz for his venture Pie in the Sky, a Cape Town-based bakery that has been in operation for 56 years. Lockdown regulations brought operations to a standstill, but contracts with two of the country’s largest retailers helped Luiz and his team to weather the storm. Today, the bakery has expanded its offering to the quick-service restaurant industry and is perfectly positioned to take advantage of the opportunities that lie ahead.
Resilient Entrepreneur of the Year: Monageng Legae Junior of Bontle Ke Botho Consulting that provides, among other services, a funeral service offering aimed at making dignified burial rites more accessible to those with limited funds. The company is currently based in Soweto and services the township and surrounding areas.
Lifetime Achiever: Shona McDonald for her venture, Shonaquip, which was founded in 1992 as a hybrid social enterprise that designs and manufactures wheelchairs and posture support devices appropriate for rural environments. Over the past 31 years, McDonald has helped to improve the quality of life of hundreds of people and children living with disabilities in remote and rural regions.

David Morobe is our Executive General Manager for Impact Investing. He has been working with small and medium business entrepreneurs for more than 25 years and has amassed considerable experience from the various positions he has occupied. Even after working with entrepreneurs for so many years, David still appreciates the opportunity to be of service to their needs, recognising that they play a very important role in the socio-economic development of our country. His greatest fulfilment is seeing SMEs grow and sustain both in good and challenging times, thereby creating wealth not only for themselves but also for those in their employ. He is our go-to-spokesperson for our SME Confidence Index, SME sector policy and trend matters, mentorship, and business leadership articles.