IOL partners with Township Economy Awards to put spotlight on township entrepreneurs - IOL

IOL has partnered with the Township Economy Awards & Summit to celebrate township businesses and the contribution they make to South Africa's economy.

IOL has been announced as the official media partner for the 2026 Township Economy Awards & Summit, in a partnership aimed at bringing the achievements, challenges and business opportunities of township entrepreneurs to a wider national audience.

The partnership comes at a time when South Africa faces persistent unemployment and an urgent need to create more opportunities for small businesses. IOL Editor Lance Witten said township economies deserved greater recognition for their role in creating jobs, driving innovation and contributing to the wider economy.

"Township economies are often ignored but they add critical stimulus to the overall economy and jobs market, sitting at the coalface of job creation. It is often the heart of innovation," Witten said.

"It's about time township economies are given an opportunity to shine, and IOL is proud to be the platform that highlights and raises the profile of this integral cog in South Africa's broader economic landscape."

Township entrepreneurs deserve a bigger platform to share their stories and showcase their contribution to the economy.

Witten said township businesses were sometimes dismissed as informal trading, despite the role they could play in providing a foundation for entrepreneurs to expand their operations and reach larger markets.

"Sometimes dismissed as just 'informal trading', township economies have often served as the springboard for expansion and scale, and those success stories are exactly the kinds of stories IOL wants to highlight and celebrate as we help shape a stronger, more unified, and more cohesive South Africa," he said.

The partnership will see IOL cover the Township Economy Awards & Summit (TEAS), which returns to Tembisa in the City of Ekurhuleni from November 19 to 21.

Coverage will include profiles of shortlisted township entrepreneurs, reporting on discussions at the two-day summit and the announcement of winners at the awards ceremony.

The organisers say the partnership is intended to give township businesses greater visibility among potential customers, corporate procurement teams, funders and investors.

Township businesses play an important role in their local communities, providing goods and services, supporting livelihoods and creating employment. However, many smaller enterprises face challenges accessing mainstream markets, finance and business networks.

IOL's involvement will include coverage across its digital news platform and social media channels, with a focus on entrepreneurs, the issues affecting their businesses and opportunities emerging from the summit.

Bulelani Balabala, founder of the Township Economy Awards & Summit, said national media exposure could help businesses attract the attention of customers, buyers and potential funders.

"Visibility is one of the biggest barriers township entrepreneurs face. Having IOL on board as our media partner means the businesses we celebrate in Tembisa can be seen by the customers, buyers and funders who need to know they exist," Balabala said.

"It tells our entrepreneurs that their stories matter to the whole country."

The eighth annual Township Economy Summit will take place on November 19 and 20 under the theme An Inclusive Economic Future: The Digital Edition.

Discussions will bring township entrepreneurs together with business leaders and government representatives to explore opportunities in technology, manufacturing, retail, logistics and the green economy.

The programme will focus on practical issues including securing business contracts, reaching new customers, accessing finance and making use of digital tools.

Attendance at the summit is free, subject to registration and capacity.

The third annual Township Economy Awards will follow on November 21 at Hospital View Sports Ground in Tembisa. The awards will recognise entrepreneurs and businesses across 14 core categories, alongside special honours.

IOL joins approximately 28 partners supporting this year's event, including Nedbank, Shop2Shop, Coca-Cola Beverages South Africa, Tiger Brands and Lenmed.

The organisers say the wider Township Entrepreneurs Agency (TEA) ecosystem has a presence across all nine provinces and has directly impacted more than 100,000 township entrepreneurs through business development and access-to-opportunity initiatives.

TEA also says it has facilitated grants, equipment and technical support for more than 500 micro and small businesses.

The partnership will extend beyond the three-day event, with IOL planning follow-up coverage of the businesses, ideas and commitments emerging from the summit and awards.