Wa Gono Entrepreneurs (WGE) is a social enterprise division of Wa Gono Investments. It aims to impart business skills among young African entrepreneurs in rural and township areas. This will result in increased youth employment, poverty alleviation, income generation, and rallying the youth towards positive action in their lives. By harnessing their energies towards positive actions in their communities, the youth will help transform society and gain personal rewards. This is particularly important in South Africa, a country in which there is high unemployment and poverty. Ango facilitates for the involvement of socially conscious investors and corporate businesses to financially support a select group of youth who are ready, willing and able to take action to move themselves out of the poverty trap.
Our own research show that entrepreneurs that are effectively supported with business opportunities and in running professional companies are more successful. This support sustains their entrepreneurial drive than that of other young people who operate in the informal economy and are not supported and do not have professional companies.
A study conducted in 2010 by Abor and Quartey estimated that 91% of formal business entities in South Africa are SMEs and that these enterprises account for approximately 55% of the GDP and 61% of employment in South Africa.
Our own research show that entrepreneurs that are effectively supported with business opportunities and in running professional companies are more successful. This support sustains their entrepreneurial drive than that of other young people who operate in the informal economy and are not supported and do not have professional companies.
The high failure rates of most small businesses results from lack of tools and guidance for the start-up entrepreneurs. Ango seeks to bridge this gap by helping young entrepreneurs with the tools and support to get started and run profitable businesses. We believe that companies and investors who invest and fund young entrepreneurs who are effectively supported will reap rewards in return on investment (ROI) and Enterprise Development points under the BBBEE scorecard. When more success is generated through such targeted support, we are certain that more and more corporate entities and investors will be willing in the future to invest in businesses run by young people who are systematically supported professionally in all facets of running their businesses.
