Kuba Technologies launched an online course for those facing retrenchment. It also applies to people with innovative business ideas and eligible and entrepreneurs in the townships affected by COVID-19. The financial literacy course will cover lessons on saving, money management, and prudent budgeting.
Kuba technologies was founded in 2017 to unlock the potential of small businesses operating across the continent. As a digital marketplace allowing easy access to trade between formal and informal businesses, you can link with electricians, plumber, caterers, upholsterers, graphic designers, among others.
Jacques Sibomana, the founder of Kuba shared his history as an informal trader struggling to pay off his fees when he won the R200 000 SAB Foundation Seed Grant 2019.
An excerpt from the official statement from Kuba touches on their present business model, “we believe the key to South Africa’s survival is in creating sustainable micro-enterprises, with turnkey support to see retrenched and unemployed South Africans starting a small business for sustenance and to create employment within their communities.”
Jacques Simbona went on to say “The online training will see thousands of entrepreneurs gaining vital business knowledge and access to Kuba’s GrowMyBiz tool kits that will help business owners scale to profit in an e-commerce environment.”
According to an IMF staff report that followed the release of the government’s rapid financing instrument, economic activity across the country is expected to drop by 7.2 percent this 2020. February and April recorded an 18% decline in employment, affecting sectors such as trade, construction, catering, personal services, hospitality, storage, and communication. Low-income workers and the informal economy are the worst hit. It is estimated over 3 million South Africans have lost their jobs, Kuba hopes to provide relief with their new courses.
Kuba Technologies hopes more organizations get on board to support it. At less than R15000 an individual can access Kuba’s e-procurement platform offering business training, and a starter kit comprising of a business bank account, website, registered company, and flyers, and business cards.