The formation of the Government of National Unity, resolution of the energy crisis and a hardened stance towards corruption and extortion have been hailed as game changers for investment in South Africa.
The latest business confidence index of 118.1 is the highest it has been in nine years. Global ratings agency Standard & Poor has forecast GDP growth of 1.4% over the next three years, citing the “planned acceleration of economic reforms” as a key driver.
Based on its forecasts, S&P has raised the outlook for South Africa from stable to positive, a move that is expected to ease financing conditions, increase investor confidence and strengthen the rand – all of which are positives for the economy.
The number of business liquidations has decreased by 3.1% year-on-year, with some sectors weathering the storm better than others. Even the official unemployment rate has eased from 33.5% in the second quarter of 2024 to 32.1% in the third quarter, the first drop in a year.
All indices are pointing to a more buoyant economic outlook in 2025, and that bodes well for entrepreneurs, startups and established businesses in South Africa.
Here are 12 South African entrepreneurs who are making names for themselves locally and abroad.
Mahlatse Mamaila – Founder INO-Biodiesel
“I learned to believe in myself and accept failure and rejection as part of the journey.”
Dynamic, visionary and unafraid to explore new concepts, Mahlatse Mamaila pivoted away from a career in accounting to focus on converting used cooking oil into biodiesel.
Such was the success of the operation, Mamaila launched INO-Biodiesel in 2023. Today, the company produces 40,000 litres of biodiesel per month, output that is struggling to meet current demands.
The winner of Visa’s She’s Next South Africa Award in 2024 has turned her attention to a second source of oil – rurally produced agri-products that can double as a food source when required.
Mamaila is a firm believer in collaboration over competition, and the ability to take the hard knocks in pursuit of a goal.
Margo Faith Fargo – Founder of Margo Fargo International
“I find mentors every day in the most unfamiliar environments. They have provided me with guidance, patience and safe spaces to move confidently and learn without feeling inadequate.”
Model and sustainability guru Margo Faith Fargo is the energy behind two exciting startups operating under the Margo Fargo International brand – Far-Go Straws and Grinda Coffee.
After launching her reusable steel straw company in 2019, Fargo shifted gear and entered the coffee market, with an emphasis on quality African coffee beans sourced from Uganda.
“The aim is to bring good African coffee beans, people and great experiences together.” To that end, Fargo and her entourage collaborate with like-minded organisations to drive sustainability within the workplace.
Fargo, named one of 200 Young South Africans by the Mail & Guardian in 2024, claims that having an accountable person who can help you out and make that leap of faith is key to success.
Tshego Molefi – Founder and MD of Moli & Mela Group
“The lesson we learnt is never underestimate ourselves or be defined by our backgrounds. Always work with what you have. Just start.”
In 2017, former journalist Tshego Molefi took the plunge and co-started an environmentally-friendly waste management and recycling company. After a challenging start, Moli & Mela became the first black- and woman-owned business to land the waste contract at Sun City.
Now, with a permanent staff of 65 and 100 part-time workers on the books, Molefi is well on her way to achieving her goal – to create jobs and opportunities for marginalised communities in the North West.
The 31-year-old scooped up the Social Impact She’s Next Award in 2024, and is in the process of setting up a recycling facility that’s expected to create an additional 200 jobs.
Kgothatso Moloto – Founder of Niche Parfums
“Even the most challenging obstacles can be overcome with positive thinking, hard work and dedication.”
Versatile, hardworking and an entrepreneur from an early age, Kgothatso Moloto started his perfumery as a side hustle. Niche Parfums has since established itself as a leading purveyor of luxury scents and perfumes manufactured all over the world.
Moloto, one of the Mail & Guardian’s top 200 Young South Africans in 2024, sells fragrances online and through an artisanal perfume shop in Parkhurst, Johannesburg.
The dynamic 32-year-old, who has an honours degree in accounting, is in the process of expanding operations countrywide. A solutions-oriented approach to challenges, and the ability to adjust as life unfolds, are the secrets to his success.
Morongwe “Mo” Mokone – Co-Founder of Mo’s Crib
“Be unique, have a product that tells a story and be willing to go beyond the standard practices as it pertains to design and art in the home space.”
Innovation and creativity lie at the core of homeware designer, Mo Mokone. The winner of the 2024 Veuve Clicquot Bold Women Award is the co-founder of Mo’s Crib, a home décor and design company founded in 2016.
Today, Mo’s Crib is a booming business with 100 employees, an insatiable export market and international brands as key partners. The company specialises in fashioning recycled materials into functional African-inspired homeware.
Despite setbacks, and the challenges of being self-funded, Mokone has relied on her personal values to guide business strategy in such a way it is “rooted in compassion for all our employees, our customers and the environment”.
Anje Yamo Nene – Founder & CEO of Nenes Food Brands
“For one to grow, you should get comfortable being uncomfortable.”
Anje Yamo Nene started out selling kasi-style kotas from mobile trailers. He is now the CEO of Nenes Food Brands and franchise owner of six outlets in Johannesburg, Midrand and Pretoria.
His biggest challenge was taking the business from an informal setting into the mainstream mall environment, a move that carried substantial risk. His philosophy is simple, “We want to grow, therefore we will take the risk!”
Nene has a hands-on approach to business and regularly visits branches to interact with customers, resolve issues and take new ideas on board. His goal is to make kotas as ubiquitous as pizza and burgers and fries.
Refilwe Sebothoma – Founder of Hakem Energies
“Reading is no longer a hobby but a necessity for contemporary business leadership.”
As the CEO of the PBM Group, a market leader in personal protective equipment, Refilwe Sebothoma is no stranger to business.
In 2022, she decided to tackle energy poverty in impoverished areas and established Hakem Energies, a distributor of low-cost LPG boxes suitable for safe cooking and heating.
Her intervention has literally changed the lives of people living in the most challenging conditions for the better, and earned her numerous accolades and awards including the 2024 Bold Future Award.
Dumi Mahlangu – Founder and MD of Chepa Streetwear
“I encourage you to create something and trust in yourself. When you do that, other people will buy into your vision and trust in it too.”
Trendsetter, fashionista and business strategist Dumi Mahlangu took a punt on himself – and it’s paying off. In 2018, the BCom graduate in economics left a cushy job in investments to set up Chepa Streetwear, one of the hottest new fashion brands in South Africa.
Today, the online fashion emporium employs 20 people and delivers countrywide. Mahlangu credits his success to creativity, hard work and self-reliance.
Thapelo Nthite – Co-Founder Botlhale Al
“The vulnerable feeling of stepping out of your comfort zone is the birthplace of innovation.”
With a degree in mechatronics and an MSc in electrical engineering in the pipeline, it’s a wonder Thapelo Nthite has the time to do anything but study.
Together with a team of bright sparks, he co-founded Botlhale AI in 2019. The multi-award-winning software is shattering the English-only barrier by delivering the basics of information and communications technology (ICT) in all official languages.
To date, the team has been invited to join the Grindstone Accelerator programme and, in 2023, the AI and machine-learning platform won the DataHack 4FI Innovation competition.
Thandi Hartmann – Founder of Blushproof
“It is a sustainable product South African women must have, especially those living in rural areas.”
Thandi Hartmann wanted to make an impact on “period poverty” – the time lost to young women who couldn’t afford or access sanitary pads.
In 2020, she took the plunge and started Blushproof, a company that sells South African-designed and manufactured sustainable “period panties”.
Hartmann’s startup was invited to participate in the Grindstone X Accelerator programme in 2023 and is currently selling more than 1,000 units per month. The brand recently scooped up the Best Period Underwear Brand 2024 – South Africa in the LUXlife Parent and Baby Awards.
Tebogo Petlele – Founder and CEO of Seponono
“Start where you are, use what you have, do what you can.”
Community activist and entrepreneur Tebogo Petlele is a qualified occupational therapy technician. Her love for the African “doek” catapulted her into her latest endeavour, Seponono Africa.
The brand of colourful and quintessentially African headwraps is designed for individuals and as corporate gifts. Clients include the World Economic Forum, Tsogo Sun, Mahakwe Tours, Standard Bank and Techno Serve.
Petlele has achieved international recognition for her leadership qualities and entrepreneurial skills. She’s a top 10 finalist at Grindstone 2023.
Sammy Mhaule – Founder and CEO of Kicks Sportwear

“We are all capable of dreaming and chasing our dreams. Young people need to understand that they only need to start.”
Sammy Mhaule is a born entrepreneur. He started his journey at the age of 14 selling ice-cream to local kids. After studying engineering, he had a stint in real estate in the UK before returning home to start his most successful endeavour, Kicks Sportswear, in 2021.
The African-manufactured sportswear company won the National Startup Champion Brand at the 2022 South African Small Business Awards, and has recently opened an office in the UK.
How BizFunding can assist South African entrepreneurs
At BizFunding, we know the biggest challenge entrepreneurs and startups face in South Africa is acquiring capital to grow and sustain their businesses. Without steady cash flow, even the smartest ideas can’t come to fruition.
One solution is to leverage an existing purchase order or tender to raise working capital. We’ll provide the funds required to fulfil the order or complete the tender. Only when the job is complete and the client has paid, you pay us back.
Tender and purchase funding by BizFunding is a quick and convenient way of capitalising a business and contributing to South Africa’s economy – without requiring a huge amount of finance upfront.
An easy online application, same-day funding approval and discreet “no-credit check” business funding transaction ensures capital is available within 72 hours.