Sadly, in South Africa 70-80% of businesses do not survive their first years. This is true for CF’I as well, of which many don’t have the resources to fulfill their mandate and compete with commercial banks. Incubators were developed to reduce the chances of failure of start-ups by offering sustainable and fundamental entrepreneurial support.
African Pioneers Co-operative Incubator sets to assist new CFIs and CBs, by providing the required training, mentorship and expertise such as: a one-on-one mentors, together with business development, personal and strategic development plans that will take place over 36 months, that equip the stakeholders on financial literacy with a focus on Co-Operative Financial Institutions and Co-Operative Banks.