Social Entrepreneurship
In 2005, Cedza founded the Ubuntu Institute for Young Social Entrepreneurs, a youth-led non-profit organization focused on leadership enrichment, practical skills training and fundraising which recruits potential social entrepreneurs from all sectors of African society.
The Ubuntu Institute fosters implementation of the United Nations Millennium Development Goals through poverty alleviation programmes targeting unemployed youth from rural and semi-rural communities. Prince Cedza is committed to leading Ubuntu in the application of business principles to run a sustainable social enterprise. He has expressed concern that too often social entrepreneurs rely on donor funding and become less innovative. He maintains that South Africa has a plentiful supply of talent, opportunity and emerging entrepreneurs, but inadequate skills continue to be an obstacle in effectively tapping opportunities.
"Sustainability is key," says the prince. "A lot of people who start NGOs are looking for donor funding. A social entrepreneur knows he can't just depend on funding, he needs to be creative in all business aspects."
Among Ubuntu's projects is an international internship programme, through which successful candidates, mostly Africans, undertake internships in resorts in the United States, the United Kingdom, Australia and China for six to 12 months. Afterwards, Ubuntu assists the interns with employment placement in the hospitality industry. Dlamini says the programme has thus far helped more than 1000 young people who would have been unemployed.
Ubuntu generates over two-thirds of its funding from donors, but Prince Cedza aims for the organisation to eventually generate 60% of its funding from investments. Its investment arm, Ubuntu Institute Holdings, currently produces about a third of the institute's income. Dlamini would like donor funding to account for no more than 40% when the investment arm matures. With partners such as the Development Bank of Southern Africa and the Passenger Rail Agency of SA, Ubuntu is now developing programmes to meet the demand for rail engineering and related artisan skills.
Read more about this topic: Prince Cedza Dlamini
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