July 6, 17:00

Coa Academy Students Turn Ideas into Successful Businesses in Entrepreneurship Contest

As part of the concluded 2026 entrepreneurship contest, Coa Academy demonstrated how a new generation of South Africans is developing confidence and resilience through practical experience. The project-based learning program allowed students aged 10 to 14 to go from an initial concept to creating a full project presentation, bypassing traditional theoretical study.

Program Goals and Skill Assessment

Lauren Anderson, co-founder and CEO of Coa Academy, noted that the goal was to develop skills that employers will value by 2030, such as original thinking and tolerance for uncertainty. Anderson emphasized that what distinguishes the winners is not only the quality of their business ideas but also the ability to bring the idea to full realization, relying on their own judgment at every stage.

Contest Results Among Participants

The contest revealed creativity in various fields, as student projects solved real problems. In the senior category, brothers Caleb and Simeon de Greef (aged 10 and 12) won with the InventZA project, which focuses on engineering boxes proudly representing South Africa. Simeon mentioned that the contest taught him teamwork, while Caleb expressed delight at the opportunity to start his own business.

In the junior category, eleven-year-old Ryan Wagner won with the Ryan's Bug Class Co-op project, where he sold educational merchandise about insects and conducted online lessons. Wagner reported that the purchase of his cards and gift sets gave him confidence that other children could also love what is considered unnoticed.

Second place in the junior category went to twelve-year-old Amani Ali, who developed Busy Bee Pads—special sensory cushions for children with ADHD. For Amani, the main takeaway was receiving her first sale, which showed her that age should not hinder the realization of an idea.

Significance of the Initiative for the Country

This initiative is relevant given that the youth unemployment rate among those aged 15 to 24 in the country exceeds 45% (according to Stats SA). By focusing on practical learning, Coa Academy aims to provide students with the adaptability and self-assurance needed to succeed in the changing workplace.

Judge Abena Opeibea Ani-Budu, a venture capital partner at MEST Africa, particularly highlighted the students' willingness to embrace discomfort as a defining trait. She stated that it is impressive how these students accepted this discomfort instead of waiting for it to disappear, as this is what true entrepreneurial skill is.

As the winners receive cash prizes and mentorship sessions supported by industry leaders from Flintr, The Creative Lab, and Sanrae, the program serves as proof of the potential of South African youth when provided with the right environment to grow.

iol.co.zaJune 30, 14:30

Absa Launches Entrepreneurship Fund for South African Youth

As part of its 'All In This Youth Month' platform, the bank Absa announced the creation of the Absa Youth Entrepreneurship Fund (AYEF). This initiative aims to help young residents of South Africa turn their ideas into viable businesses that will become sustainable sources of employment and economic growth.

Context of the Fund Launch

The launch of the fund coincides with the celebration of Youth Month, which is dedicated to reflecting on the legacy of the 1976 Soweto Uprising and addressing contemporary challenges facing youth. Absa emphasizes that despite the high level of ambition among South African youth, access to opportunities remains insufficient because structural barriers prevent the transition from an idea to a viable business.

Goals and Benefits of AYEF

The fund is a direct response to the challenges faced by young entrepreneurs, such as limited access to funding, networks, mentorship, and markets. It will provide grant funding, structured business support, and access to Absa's business network. A distinctive feature of the fund is the provision of conditional grant funding without the requirement to repay the funds or give up equity in the business, thereby alleviating the financial burden on aspiring entrepreneurs.

Support and Partnership

AYEF is designed to support entrepreneurs at all stages of their development—from early concepts to growing enterprises. Program participants will receive phased grant funding tied to achieving business goals, individual mentorship, and strategic support, as well as guidance on financial and corporate governance. The program will operate nationally for 12 months. The fund is implemented in partnership with the Tshiamo Foundation and is based on a voluntary 'give-back' model, where supported entrepreneurs assist future participants.

Leadership Statements and Next Steps

Sidney Mbele, Group Marketing and Corporate Affairs Director at Absa, noted that the main obstacle for South African youth today is not ambition, but access. She stated that through AYEF, the bank is 'sowing the seeds of change' by providing the necessary capital and support to create jobs and stimulate inclusive economic growth. Furthermore, during a flagship event held at Absa Towers West, youth, entrepreneurship partners, business leaders, and politicians gathered to connect ambition with opportunity. Applications for the Fund will open in August 2026.