Community and Charity News

Investec donates building to The Business Place

Celebrating the handover of 58 Marshall Street to The Business Place, left to right in the back row: Dave Donald (Investec), Nicolas Mmako (Investec), Carla Stein (Investec), Sam Manyisa (TBP), Christopher Parkin (TBP). Left to right in the front row: Shaun Govender (TBP) and Setlogane Manchidi (Investec).

58 Marshall Street in Johannesburg has become well known as an entrepreneurial hub. For the last 15 years the premises have been occupied by start-up support organisation The Business Place (“TBP”) courtesy of Investec. Recognising the importance of entrepreneurial activity in stimulating the country’s economy, Investec has donated the building to TBP to help facilitate their future plans.

TBP will convert the 2 698m2 building into a multi-agency one stop shop which will provide financial and non-financial support to small businesses and facilitate various incubation programmes and City of Joburg initiatives.

Setlogane Manchidi, head of Investec’s Corporate Social Investment, explains: “The challenge today is creating an inclusive and prosperous society in the face of the persistent challenges of high unemployment, widespread inequality and relatively low economic growth compared to our emerging market peers. Alongside education, nurturing entrepreneurial potential is critical if we are to increase the number of active participants in the country’s economy. We salute TBP for their efforts to create a more entrepreneurial culture in South Africa.

“As owners of this building, The Business Place will have a resource that will help bring their many other entrepreneurship related ideas and initiatives to life.”

Shaun Govender, CEO of The Business Place, says: “As the new owners of 58 Marshall we have a platform from which to establish TBP as a high impact and self-sustainable entity. We are incredibly grateful for the donation and believe it will be instrumental in our plans to expand and improve our services.”

Investec Property, a division of Investec, played a key role in facilitating the donation of 58 Marshall, providing support and guidance to ensure a smooth transfer process to the benefit of The Business Place and their partners.