2019 Report INSIGHT‚ INNOVATION & INTENTION FOR IMPACT

2019 ReportINSIGHTINSIGHT‚‚ INNOVATION INNOVATION & INTENTION & INTENTION FOR IMPACTFOR IMPACT

CONTENTS

02 INTRODUCTION 41 ASSOCIATIONPROGRAMME

05 2019 SOUTH AFRICAN CONTEXT 55 ENTREPRENEURIAL

EDUCATION

09 PROGRAMME THEORY OF CHANGE (TOC) 58 ALLAN GRAY

ENTREPRENEURIAL CHALLENGE

12 SCHOLARSHIP PROGRAMME 61 THE FOUNDATION

IN 2019

23 FELLOWSHIP PROGRAMME 64 CONCLUSION

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INTRODUCTIONThis report provides an overview of the key changes in the context of the South African entrepreneurial ecosystem. It situates the Foundation’s programmes within this context by providing an overview of the highlights of each programme, the key demographic statistics, and key themes and indices related to the experiences of Programme Participants. It then provides an operational overview of the Foundation as it relates to Talent Management, Finance and Operations, and Impact Assurance.

The great American psychologist and philosopher, William James, once said “The great use of life is to spend it for something that will outlast it.”

To create a legacy is to ensure immortality, as the impact of one’s life is felt for generations to come. This Annual Report is the first that we have issued since the passing of our founder, Mr Allan Gray, on 10 November 2019 and the demonstration of our impact created within the document is proof that his legacy lives on well beyond the years of his life.

The themes of entrepreneurship, education, philanthropy and poverty alleviation were central to Mr Gray’s thinking. His values of long-term thinking; humility; and 'lifting as you rise', live on in our initiatives; and especially, in our commitment to a spirit of significance where success goes beyond personal wealth creation to reflect the contribution made to community, country, and to the world.

On that note, 2019 may be seen as a year that helped ready us for the context of the crisis that lay ahead. Of course, there was no way we could have foretold the coronavirus pandemic or the havoc it would wreak on South Africa’s economy, but it is nonetheless gratifying to know that our work is geared towards providing the kind of thinking that we need now, more than ever.

This has been demonstrated through our strategic theme for 2019 – I3 for Impact – which sought to emphasise the need for Insight, Innovation and Intention, all of which, properly applied, lead to impact. Put another way, insight is about thinking deeply, innovation is about thinking broadly, and intention is about thinking “straight” – being focused ahead on what you need and want to do. Each is necessary, individually and collectively, to achieve the kind of impact we envision. Thus, our new Strategic Initiatives, that go beyond our core programmes to add greater efficiency and efficacy to our work, were mapped against this theme.

This was the lens through which we viewed 2019; a year that was celebrated in South Africa for many achievements in areas like sport, culture and the arts. Behind all the applause and jubilation, however, is another reality; that of a country crippled by high unemployment and stagnant economic growth, with few opportunities for millions of young people who were unable to access a high-quality education. Contrasted harshly against the many accolades we earned last year is a title we are far less proud to have been awarded by Time magazine: that of the most unequal country in the world, with the glaring discrepancies between the rich and poor highlighted in grim detail on its May cover.

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We are faced with deep structural problems that require a groundswell of strong, focused, ethical leadership and entrepreneurial thinking – and the Allan Gray Orbis Foundation’s work is at the nexus of creating and nurturing just that; the deep inequities as evidenced during this crisis are a stark reminder of the crucial need to identify this potential and develop the mindset from early on.

Our approach takes the form of a long-term investment in young people with entrepreneurial potential, from as early as 12 years old. It recognises that entrepreneurship is often the outcome of years of nurturing the type of mindset that allows opportunities to be discovered, validated and created into a viable offering. In line with this, it requires entrepreneurial behaviour to be practised and honed. The Foundation therefore believes that entrepreneurship is both an art and a science, and we believe in rooting our work within both spheres – ensuring it is based on deep research and thought, but also incorporating artistic flair, imagination and intuition.

CapeBio, founded by AGOF Fellows Dineo Lioma and Daniel Ndima, is a case in point. It is our objective to ensure that programme participants are able to recognize a societal need, and create an innovative solution to address it. Dineo and Daniel demonstrated this ability with their response to the Covid-19 crisis, with the development of a testing kit that can provide results in less than two hours. This speaks directly to our goal of fostering socially responsible entrepreneurs. It is also an excellent example of how an entrepreneurial mindset can help to create logic out of patterns and innovation in chaos, and help you forge ahead amid great uncertainty and hesitation.

Seeing the contribution such ventures are making to society is a rewarding validation of our work and serves to keep us focused on what can be achieved. We have often spoken of the Fourth Industrial Revolution and the need to future-proof individuals against the challenges it would bring. Those challenges are no longer in the future. They have arrived. And we need to be able to create ways of supporting the youth that cut through the resulting disruption and complexity to enable them to identify and optimise the opportunities.

The impact of these early inputs into young people is visible from our outcomes: during the past year, we had the best throughput rate in the history of our Scholarship programme, which means that more talented young people from marginalized communities were able to harness their entrepreneurial potential and grow their leadership skills while attending leading high schools across the country. Meanwhile, our Candidate Fellows have impressed us with their entrepreneurial ability, with a significant number having established businesses while still at university. Our Allan Gray Fellows have been busy, too: a number have gone on to establish dynamic ventures which we are certain will have a marked impact on their communities. Yet others, are practising entrepreneurial leadership within other business and social environments.

This is an exciting confirmation that identifying entrepreneurial potential early; and providing the right training, support and resources to nurture and develop it will result in the dynamic, responsible changemakers of the future that we are aiming for. That said, we acknowledge that there is still much to be done. And with one of the most challenging times in modern history upon us, we are up for the task.

2019 SOUTH AFRICAN CONTEXT

A key challenge facing South Africa is its chronically high unemployment rate. Figures from the fourth quarter of 2019 report that 29.1% of economically active people aged 15–64 years are unemployed, and this figure rises to 38.7% when individuals who have given up searching for a job are included (Statistics South Africa, 2019). Youth unemployment is particularly concerning, with approximately 40.1% of young people aged 15–34 years not in employment, education or training. Internationally, there is a growing interest in the role that entrepreneurship can play as a catalyst to achieve employment, innovation, growth and equity, through both high-growth enterprises as well as necessity driven-entrepreneurship (Valerio et al., 2014).

The Global Entrepreneurship Indicator (GEI), an annual index that measures the health of entrepreneurship ecosystems in 137 countries, recognises that entrepreneurs do not exist in a vacuum and that the entrepreneurship ecosystem affects the entrepreneurial activity of a country (GEDI, 2020). The GEI is made up of three building blocks or sub-indices: entrepreneurial attitudes, entrepreneurial abilities and entrepreneurial aspirations (the 3As). These three building blocks stand on 14 pillars, each of which contains an individual and an institutional variable that corresponds to the micro- and the macro-level aspects of entrepreneurship.

In 2019 South Africa was ranked 58th out of 137 countries with a GEI score of 31.6 (Ács et al., 2019). This score suggests that South Africa is operating at 31.6% of its entrepreneurial capacity, compared to the United States which is ranked 1st with a score 86.8. South Africa’s GEI score has fluctuated over recent years but has declined over the 2015–2019 period, from a score of 40 to 31.6. While this suggests that the health of the ecosystem has been declining, South Africa performs well relative to other Sub-Saharan African (SSA) countries (Knoema, 2019). South Africa is ranked 2nd in the region, behind Botswana (ranked 1st in the region and 51st overall, with a score of 34.4) and ahead of Namibia (ranked 3rd in the region and 62nd overall, with a score of 30) (Ács et al., 2019).

31.6—2019

SOUTH AFRICA GEI SCORE

—SOUTH AFRICA RANKED #58

OUT OF 137 COUNTRIES

—SOUTH AFRICA RANKED #2

IN THE SUB-SAHARAN AFRICAN REGION

“ INTERNATIONALLY, THERE IS A GROWING INTEREST IN THE ROLE THAT ENTREPRENEURSHIP CAN PLAY AS A CATALYST TO ACHIEVE EMPLOYMENT, INNOVATION, GROWTH AND EQUITY, THROUGH BOTH HIGH-GROWTH ENTERPRISES AS WELL AS NECESSITY DRIVEN-ENTREPRENEURSHIP. ”Valerio et al., 2014

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South Africa’s strong performance vis-à-vis countries in SSA is largely driven by the aspirations sub-index that measures the quality aspects of startups and new businesses. Specifically, it looks at whether early-stage entrepreneurs want to create high-growth businesses (i.e., introduce new products and/or services, develop new production processes, penetrate foreign markets, substantially increase their company’s staff, and finance their business with formal and/or informal venture capital) (Ács et al., 2019). South Africa is ranked 49th (39.2 score) overall for the aspirations sub-index, ahead of both Botswana and Namibia, which are ranked 72nd and 60th, respectively.

South Africa performs worse in both the attitudes and abilities sub-indices. Specifically, South Africa is ranked 81st (26.3 score) in the attitudes index that measures society’s attitudes towards entrepreneurship (including the population’s general feelings about recognising opportunities, knowing entrepreneurs personally, endowing entrepreneurs with high status, accepting the risks associated with business startups, and having the skills to launch a business successfully). South Africa also ranked 62nd (29.3 score) in the abilities score, which measures the entrepreneurs’ characteristics and those of their businesses.

The table below reports South Africa’s GEI results on the pillar level, where pillar scores provide an indication of the strengths and bottlenecks in the ecosystem. South Africa’s weakest pillar is startup skills (0.079), followed by risk capital (0.163), risk acceptance (0.242), technology absorption (0.243) and human capital (0.277). South Africa’s strongest pillars are high growth (0.611), internationalisation (0.529), process innovation (0.525) and product innovation (0.511) – all of which drive the strong entrepreneurial aspirations score that suggests South Africa is able to innovate and create high-growth firms (SABF & AGOF, 2017).

TABLE 1: South Africa’s GEI results

PILLAR-LEVEL GEI SCORES OF SOUTH AFRICA IN 2019

Entrepreneurial Attitudes 26.29 (81st)Opportunity Perception 0.459

Startup Skills 0.079Risk Acceptance 0.242

Networking 0.298Cultural Support 0.376

Entrepreneurial Abilities 29.35 (62nd)Opportunity Startup 0.328

Technology Absorption 0.243Human Capital 0.277

Competition 0.445Entrepreneurial Aspirations 39.19 (49th)

Product Innovation 0.511Process Innovation 0.525

High Growth 0.611Internationalisation 0.529

Risk Capital 0.162Global Entrepreneurship Index 31.6 (62nd)

Source: Ács et al., 2019

Turning to another global measure of entrepreneurship, the World Bank’s Ease of Doing Business Index ranks South Africa 84th out of 190 economies with a score of 67 (World Bank, 2020). This index measures the regulations applying to small and medium-size companies through their life cycle including quantitative indicators for starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency. While South Africa’s ranking classifies it as “easy” to do business in, its ranking has steadily declined from 28th in 2006 to 84th in 2019.

Despite South Africa’s strong GEI performance relative to other SSA countries and its relative ease of doing business, the Global Entrepreneurship Monitor reports suboptimal entrepreneurial activity in the country. Specifically, South Africa’s total early-stage entrepreneurial activity (TEA) score is 10.77, below both the regional (12.08) and global (12.81) average (GEM, 2019).

As a way to promote entrepreneurship and its attendant consequences, various organisations and interventions aim to provide support and alleviate constraints in South Africa’s entrepreneurship ecosystem. The Aspen Network for Development Entrepreneurs’ (ANDE, 2017) ecosystem map provides a view of support available to entrepreneurs in South Africa. As of 2017, 340 organisations are providing financial and non-financial support to businesses in the ideation to growth maturity phases. These organisations include direct finance providers (such as government/DFIs, fund managers, venture capitalists and angel funders, private equity, specialised finance, and crowd funders) who offer debt, equity and grant funding. There are also capacity development providers, including government, corporate, non-profit and for-profit service providers. In addition, a number of other foundations and academic, consulting, media and networking organisations provide support in the entrepreneurial ecosystem.

The Allan Gray Orbis Foundation, established in 2005, is one such organisation providing support in the form of entrepreneurship education and training. The overarching vision and mission of the Foundation is to contribute to an entrepreneurial, equitable South Africa, flourishing with meaningful employment by nurturing the entrepreneurial potential of young individuals. To achieve this goal, the Foundation offers three core programmes: a Scholarship Programme for high school learners, a Fellowship Programme for university students, and an Association for graduated Programme Participants who then become the Fellowship alumni.

#84—

SOUTH AFRICA WORLD BANK’S EASE OF DOING

BUSINESS INDEX RANK

—SOUTH AFRICA

TEA SCORE 10.77

“ THE OVERARCHING VISION AND MISSION OF THE FOUNDATION IS TO CONTRIBUTE TO AN ENTREPRENEURIAL, EQUITABLE SOUTH AFRICA, FLOURISHING WITH MEANINGFUL EMPLOYMENT BY NURTURING THE ENTREPRENEURIAL POTENTIAL OF YOUNG INDIVIDUALS. ”

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The Scholarship Programme and Fellowship Programme focus on entrepreneurship education, specifically entrepreneurial mindset development, personal and academic development. The overall aim of the two programmes is to select young individuals with entrepreneurial potential, and develop their passion and potential to become high-impact, responsible entrepreneurs. Fundamental to these two programmes is the belief that education plays an important role in an entrepreneur’s journey. Scholarship Programme Participants are selected in Grade 6, prepared in Grade 7 and placed at an esteemed partner school to start in Grade 8. Fellowship Programme Participants are selected in Grade 12 or in their first year of university and receive educational funding to complete their degree at one of our 11 partner universities.

All graduated Fellowship Programme Participants (i.e., Fellows) become part of the Association, which focuses on entrepreneurship training and includes programme offerings in five portfolios: Capital, Ventures, Careers, Community, and Leadership. The Association community has access to merit-based postgraduate funding, entrepreneurial and business development support as well as business funding from our partner organisation, E2.

In addition to the three core programmes, the Foundation runs the Allan Gray Entrepreneurship Challenge (AGEC) in partnership with Allan Gray Limited. Launched in 2017, the AGEC aims to provide access to entrepreneurship education across South Africa through a 6 week entrepreneurship programme. It is open to all high school students who seek to cultivate an entrepreneurial mindset through gamified learning in the form of online micro-challenges.

FIGURE 1: The Foundation’s Value Chain

MINDSET

SKILLSET

High-impact Responsible Entrepreneur

ScholarshipFellowship

AssociationE2

Entrepreneurship Education

Building capabilities, skills and mindsets for the purpose of entrepreneurship. The goal is to expand

the pool of potential entrepreneurs.

Entrepreneurship Training

Building knowledge and skills in preparation for starting or operating a business. The goal is to aid

entrepreneurs to become high-impact entrepreneurs.

AGEC

PROGRAMME THEORY OF CHANGE (TOC)

A theory of change is a way of demonstrating how an organisation achieves impact through the work it does. It shows the pathway between action, outcomes and impact, and conditions under which impact can occur. It is core to measuring impact as it highlights important areas that need to be tracked to better understand the impact an organisation is making. The Foundation has recently undertaken an external evaluation of its programmes. Through this process, its ToC was reviewed. These changes will be communicated in future, but for the purpose of this report, the following outcomes and scores still hold.

The Foundation’s ToC shows the progression from the selection of Programme Participants to their personal and entrepreneurial development. It illustrates how Programme Participants move from achieving developmental milestones related to where they are in their lives, to being able to work with one another, to becoming intent on starting up an entrepreneurial venture and eventually taking entrepreneurial action. The result of such follow through is the creation of meaningful jobs through their ventures, which in turn can bring about socio-economic prosperity in the country.

High-potential individuals are selected

Programme Participants are responsible high-impact entrepreneurs

Enterprises are created that offer meaningful employment for South Africa

Self-Awareness Academic Excellence Collaboration Community Responsible Entreprene

urship

Com

peten

ce

Mind

set

Lifelong Learning

Collaboration

Activating Starting up

Displayin

g high

-impac

t entr

epren

euria

l valu

es

81.25%

—OUTCOME 10

Programme Participants intend to become high-impact responsible entrepreneurs

80.5%

—OUTCOME 2

Programme Participants have a greater self-awareness and awareness of themselves in

relation to others

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Although all the programmes align with the Foundation’s Theory of Change, they were not all measured on the same or on all of the outcomes (refer to Table 2). This is because some outcomes are not relevant for a particular phase of development for Programme Participants in a particular programme. Programme Participants’ agreement with a series of statements are assessed. Each statement is linked to a TOC outcome that is relevant to their programme and the phase of development they are in.

The Foundation’s ToC index scores (i.e. all 10 outcomes as measured across the three programmes) improved by 1% overall in 2019. This was largely due to an improvement in the ToC index scores for the Association. However, it should be noted that the sample size of Fellows for the year-end review (YER) survey was small and that the YER index scores are aggregated across all three programmes. Those outcomes related to academics, life-long learning and valuing responsible entrepreneurship also scored low. These need to be focused on as areas of improvement for the programmes in 2020. Nevertheless, the outcome scores that emphasise our impact pathway were higher.

The highest scoring outcomes across all programmes were:

Programme Participants have a greater self-awareness and awareness of themselves in relation to others

OUTCOME 2

Programme Participants work collaboratively together on entrepreneurial activitiesOUTCOME 9

Programme Participants intend to become high-impact responsible entrepreneursOUTCOME 10

The lowest scoring outcomes across all programmes were:

Programme Participants achieve academic excellenceOUTCOME 3

Programme Participants value responsible entrepreneurshipOUTCOME 6

Programme Participants pursue life-long learningOUTCOME 8

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TABLE 2: ToC outcomes and scores across programmes

Theory of Change Outcome Scholarship Programme

Fellowship Programme

Association of Allan Gray Fellows Overall

O1: Programme Participants are selected who display the potential to become high-impact responsible entrepreneurs 51 156 Not applicable 207

O2: Programme Participants have a greater self-awareness and awareness of themselves in relation to others 83% (up 8%) 78% (down 3%) Not applicable 80.5%

O3: Programme Participants achieve academic excellence 53% (down 3%) 50% (up 1%) Not applicable 51.5%O4: Programme Participants value collaboration 60% (down 4%) 64% (down 1%) 65% (down 4.8%) 63%O5: Programme Participants value the Allan Gray Orbis community 79% (down 4%) 79% (down 8%) 63.3% (down 2.9%) 73.8%

O6: Programme Participants understand and value responsible entrepreneurship – 39% (down 2%) 84.8% (up 13.9%) 61.9%

O7: Programme Participants have developed an improved of entrepreneurial mindset and competencies – 78% (up 1%) 74.4% (down 0.4%) 76.2%

O8: Programme Participants pursue life-long learning – 25% (down 7%) 65% (down 5.9%) 45%O9: Programme Participants work collaboratively on entrepreneurial activities – 77% (up 4%) – 77%

10: Programme Participants intend to become high-impact responsible entrepreneurs – 77% (down 4%) 85.5% (up 30.6%) 81.25%

Overall score 64.9% (down 2.2%) 64% (down 1.7%) 74.6% (up 7.4%) 67.8% (up 1%)

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The Scholarship Programme was able to achieve higher numbers of applications to the programme through the Scholarship selection process in 2019. Moreover, in 2019 the programme increased the intake of Grade 8s to 51 (the highest it has been over the past three years). In addition to that, there were 14 Scholars who were offered the Fellowship opportunity, and two who were offered the Jakes Gerwel Fellowship opportunity. Scholars performed well academically, with 74% of Grade 8–12 Scholars achieving the benchmark academic requirements for the Fellowship Programme. Moreover, all Scholars who took part in the Scholarship Programme were retained.1

While the programme did very well in terms of these key metrics, programme changes in 2019 did result in changes and a drop in key ToC outcome scores and the programme’s net promoter score. This is covered extensively in the section that follows. The following section also captures key demographic statistics, year-end review (YER) survey results and feedback captured during the survey and interview processes.

SCHOLARSHIP Programme

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1 Two more were offered the Jakes Gerwel Fellowship opportunity, a programme funded by the Allan Gray Orbis Foundation Endowment and aimed at entrepreneurially minded students who would like to become educators and change agents in the South African education system.

149scholars

GENDER AND RACE DISTRIBUTION

58%female

42%male

2019 COHORT BY GRADE

“ [WHAT HAS BEEN THE MOST BENEFICIAL PART OF THE PROGRAMME THIS YEAR?]…I THINK THAT THE MOST BENEFICIAL ASPECT OF THE PROGRAMME TO ME THIS YEAR WAS THE, PROMOTION OF GROUP WORK WHEN WORKING THROUGH SPECIFIC PROBLEMS OR WHEN TRYING TO ADOPT BEST ENTREPRENEURIAL SOLUTIONS. ”(Grade 9 Scholar, Female, Epworth Independent High School for Girls)

DEMOGRAPHIC DISTRIBUTION

HIGHLIGHTS

100%Retention

74%Scholars

performing above academic eligibility

4 660Applications

received

56Scholars received

distinctions

TOTAL SCHOLARS 2019149ONBOARDED 201951GRADUATED 201922EXITED 20190

34

Grade 8

30

Grade 9

30

Grade 10

32

Grade 11

23

Grade 12

130Black African

13Coloured

2White

1Indian

1Asian

1Mixed Race

1Other/Unkown

BECOMING A FELLOW IN

THE FUTURE

77%yes

23%unsure

BECOMING AN ENTREPRENEUR

90%yes

10%unsure

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SCHOLARSHIP SELECTION

Scholarship Programmme

Highlights

� The application forms received numbered 4 660, which is a 51% increase from the forms received in the 2018/2019 campaign.

� Of these applicants, 1 182 were eligible to write the Foundation’s Maths and English exams in December of 2019.

� The selection campaign did not meet the target of reaching 1 000 Black African eligible applicants. Only 990 of the 1 182 eligible applicants were Black African (i.e. 99% of the target), which was 1% short of meeting the target. The Scholarship opportunity was offered to 51 applicants. They were successfully placed and are set to start Grade 8 in January of 2020.

Scholar achievements

There were numerous Scholars who achieved leadership recognition at their placement schools in 2019. The table below summarises these achievements as well as other opportunities accessed by Scholars.

TABLE 3: Scholar achievements in 2019

Scholar School Achievement

Ayabukwa Mntalo – Grade 11 Clarendon GirlsHead of HostelSchool Prefect

Achuma Koshitini – Grade 11 Clarendon Girls Deputy Head of Hostel

Exchange in Europe for 1 weekSange Tshakumane – Grade 11 Clarendon Girls School Prefect

Kiara Bouw – Grade 11 Collegiate Girls School PrefectIfhechukwu Ludjoe – Grade 11 St Cyprian Deputy Heat of Hostel

John Torcida – Grade 11 St Andrews Boys Exchange to India for 6 weeksUbaid-Dullah Samsodien Grade – 11 Bishops Exchange in Netherlands

Thandiswa Nkosi – Grade 11 St Mary’s Girls Deputy Head of HostelImitha Gala – Grade 11 Pietermaritzburg Girls School Prefect

Phiwokuhle Mzobe – Grade 12 Pietermaritzburg Girls School Prefect

—4 660

APPLICATION FORMS RECEIVED

74%

—ACHIEVED THE FELLOWSHIP

ACADEMIC BENCHMARK

—100%

SCHOLARS RETAINED

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In order to be eligible for Scholarship selection, applicants need to meet the demographic (race and income level) and academic requirements as set out in the Scholarship Selection protocol. Moreover, eligible applicants are also assessed against the Foundation’s organisational pillars to screen for motivational fit and entrepreneurial potential.

The 2019 selection campaign saw more applications than ever before and most of these were from females. Most of the eligible applicants who could proceed with the Scholarship selection process were from Gauteng, the Western Cape, the Eastern Cape and KwaZulu-Natal; similar to previous years.

FIGURE 2: Scholarship applications received between the years 2013–2019

Applications Eligible Applications

2013 2014 2015 2016 2017 2018 2019

2 090 563 2 265 449 3 035 858 3 432 1 216 4 157 1 014 3 079 773 4 660 1 182

TABLE 4: Regional distribution of eligible applicants participating in the test-writing phase of the Scholarship selection process

Year Gauteng Western Cape KwaZulu-Natal Eastern Cape Mpumalanga Northern Cape North West Limpopo Free State Total Test Writers

2018 34 35 11 37 3 0 2 6 7 1352019 28 49 9 16 2 0 1 1 1 1072020 24 34 23 23 6 1 2 0 0 113

FIGURE 3: Gender split of applicants who were eligible to proceed with the selection process

78%female

22%male

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Scholar demographics and trends

The demographic distribution of Programme Participants in the Scholarship Programme in 2019 was similar to that of 2018. The current cohort was comprised of 58% female Scholars and 42% male Scholars. 87% of the group identified as Black African. In terms of distribution by Grade, the Grade 8s was the largest group in this cohort of Scholars, which is indicative of the programme taking on a few more Scholars compared to previous years. The grade with the smallest group of Scholars was the Grade 12s.

Scholars were placed in various schools across four of the country’s provinces: the Western Cape, the Eastern Cape, Gauteng and KwaZulu-Natal. While the trend of the top ten placement schools remain the same, the most Scholars were placed in King Edward VII School (n=14). This is reflected in the table below.

TABLE 5: Distribution of Scholars by placement school

School name Number of Scholars

King Edward VII School 14Bishops Diocesan College 13

Epworth Independent High School for Girls 12St Alban’s College 12

St Andrew’s School for Girls 11Clarendon High School for Girls 10

St Cyprian’s School 10St Mary’s School, Waverley 9Rhenish Girls’ High School 8

Pietermaritzburg Girls’ High School 7Collegiate Girls’ High School 6Pretoria Boys High School 6

Roedean School 6Maritzburg College 4Selborne College 4

Rondebosch Boys’ High School 3St Stithians GC Girls’ College 3The Diocesan School for Girls 3

Michaelhouse 2Rustenburg Girls’ High School 2St Stithians BC Boys’ College 2

Grey Boys High School 1St Andrew’s College 1

Total 149

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Scholars are required to maintain high academic averages. The benchmark currently used is aggregate passes, which are quality passes, and passes that are above 70% for the final year Scholars. This is used to determine eligibility for the Fellowship Programme early on. It is also used as a means of understanding year-on-year improvement in Scholar academic results.

FIGURE 4: Scholar eligibility rate for the Fellowship Programme

Overall

Grade 11

Grade 10

Grade 9

Grade 8

Eligible Ineligible

74%

75%

57%

70%

76%

30%

24%

43%

26%

25%

Of the Grade 12 Scholars registered in 2019, 22 of them passed matric; one Scholar took a leave of absence. They achieved a total of 56 distinctions across subjects, and 95.6% (n=22) of them had bachelor passes. Notably, four Scholars achieved academic averages above 80%.

The number of Scholars intent on becoming Candidate Fellows rose from 76% in 2018 to 77% in 2019.

The entrepreneurial intent of Scholars in 2019, in terms of percentage, was similar to that of the 2018 cohort. In each cohort, 90% of them wanted to become entrepreneurs in the next 10–15 years. This is displayed in Figure 7.

FIGURE 5: Scholarship throughput into the Fellowship Programme

SCOLARS IN GRADE 12

14Scholars selected into Fellowship

23Scholars in Matric

21Applied for Fellowship

opportunity

56—

DISTINCTIONS

22—

GRADE 12 BACHELOR’S PASSES

90%—

INTEND TO BECOME ENTREPRENEURS

FIGURE 6: Scholar intention to become a Candidate Fellow

2019

2018

No Unsure Yes

23% 77%

76%22%

2%

FIGURE 7: Scholar intention to become an entrepreneur

2019

2018

No Unsure Yes

10% 90%

90%

6% 4%

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Theory of Change outcomes

The Scholarship Programme is measured against Outcomes 2, 3, 4 and 5. The highest scoring outcome (and the only outcome that showed a higher score than 2018) was Outcome 2: Scholars have greater self-awareness and awareness of themselves in relation to others. The lowest scoring outcome was Outcome 3: Scholars achieve academic excellence. This is because Scholars indicated that they were unable to achieve their academic goals in 2019. This is reflected in Figure 8.

FIGURE 8: Theory of Change index scores for the Scholarship Programme

2015 (n=122) 2016 (n=113) 2017 (n=157) 2018 (n=55) 2019 (n=71)

O2: Scholars have greater self-awareness & awareness of themselves

in relation to others

O3: Scholars achieve academic excellence

O4: Scholars value collaboration O5: Scholars value the Allan Gray Orbis Foundation Community

84% 74% 73% 75% 83% 54% 56% 58% 56% 53% 63% 62% 63% 64% 60% 84% 85% 83% 83% 79%

—85%

SCHOLARS VALUE ALLAN GRAY ORBIS COMMUNITY

FIGURE 9: Scholar experience of the Scholarship Programme in 2019

SCHOLARSHIP EXPERIENCE

2019

45% good

39% wow

15% ok

1% bad

Programme experience

Scholars had a positive experience of the programme in 2019. However, their overall rating of the programme was lower in 2019 compared to previous years. The increased workload brought about through revisions to the programme curriculum and the introduction of the online learning platform was cited as part of the reason for their less positive views this time around. The same downward trend is apparent in the Scholars’ Net Promoter Score (NPS) rating of the programme in 2019. The NPS rating is a measure of how likely Programme Participants are to recommend their programme to others.

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Figure 11 illustrates how the NPS score for the Scholarship Programme dropped in 2019, but nevertheless remained above the 70 mark, indicating that Scholars are highly satisfied by what the programme has to offer.

FIGURE 10: Net Promoter Score (NPS) of Scholars in the Scholarship Programme over time

Grade 8 Grade 9 Grade 10 Grade 11 Grade 12 Overall67 83 57 83 75 72 92 91 87 83 75 83

2019 2018

FIGURE 11: NPS Score of Scholars of the Scholars across grades in 2019

–100 +100

0

+30–30

+50–50

–70

SCHOLARSHIP 2019

75

Not likely at all

Extremely likely

Neutral

NPS

FIGURE 12: Scholars’ self-perception of their leadership development journey

LEADERSHIP SELF RATING

2019

73% yes

24% unsure

3% no

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Scholars enjoyed what the programme had to offer in 2019. The in-person events such as Jamboree and Development Camps were among their highlights. They valued the learning and support provided in the form of Courageous Conversations, Breakthrough Sessions, the online learning platform. The support they received from their SDOs (Scholarship Development Officers, which have recently been renamed as Programme Officers) was also invaluable. The following quotes from Scholars highlight how these programme offerings contributed to their growth and development in 2020. These quotes form part of the YER Survey that requires Scholars to specify what aspect of the programme was the most important to them that year.

JAMBOREE

“ Jamboree showed me becoming an entrepreneur has no age limit or time frame. ” (Grade 11 Scholar, YER survey)

GRADE 8 AND 9 DEVELOPMENT CAMP

“ The talks at the Grade 8 & 9 Development Camp. ” (Grade 8 Scholar, YER survey)

COURAGEOUS CONVERSATIONS

“ The Courageous Conversations between my SDO and myself. ” (Grade 10 Scholar, YER survey)

BREAKTHROUGH SESSIONS

“ The Breakthrough helped us understand entrepreneurship and [meet] people who are passionate about this rather than [watching] a slideshow or [doing] a worksheet. We managed to interact more effectively with different angles of businesses. ” (Grade 9 Scholar, YER survey)

SCHOLARSHIP DEVELOPMENT OFFICER DISCUSSIONS

“ Honesty and courage. My SDO has helped me in so many ways and has given me courage to face challenges I had previously swept under the carpet. Thank you. ” (Grade 12 Scholar, YER survey)

ONLINE LEARNING PLATFORM

“ The online learning platform and the challenges keep me abreast [of] my entrepreneurial endeavours. I am constantly looking and analysing my performance in different challenges. The competition aspect makes it more fun and the prizes are awesome. ” (Grade 9 Scholar, YER survey)

GROWTH MINDSET

“ It taught me to have a growth mindset. I can now grow from my failures to do even better. I know that if I fail, I can overcome that failure by dedication and pure hard work. ” (Grade 8 Scholar, YER survey)

I WAS NOT TAUGHT TO BECOME A LEADER, I WAS ENCOURAGED

TO NURTURE THE SEED THAT WAS ALREADY PLANTED INSIDE ME.

Kiara Bouw

SCHOLARSHIP IMPACTKIARA BOUW

She was a mere nine months old when her parents got divorced. Society might regard her being raised by a single mom with financial difficulties as the quintessential girl from a broken home, but she doesn’t. Kiara and her two older sisters were swaddled in their mother’s love. Their home was never broken and even though they struggled, Kiara feels that they were never robbed of any experiences.

In fact, Kiara regards every struggle as a stumbling block that has turned into a building block for a better future. These struggles built her character and laid the foundation for a future in and passion for entrepreneurship. She remembers selling earrings to buy electricity for their home. Sweets were sold for birthday parties and the proceeds from raffle tickets were put towards her first cell phone.

Kiara cannot remember a time when she wasn’t ambitious. “I believed in making things happen,” she says. She chased success, from earning little stickers to eventually earning trophies. She excelled as a mini entrepreneur at their school’s entrepreneur days and she excelled as an orator in competitions, having her confidence boosted to boot. These achievements were fuelled by a desire to create a better life for her and her family.

An encounter with a younger schoolmate made her realise that success just for the sake of it wasn’t all she wanted. This younger learner called Kiara her role model – a title that both surprised and inspired her. While Kiara couldn’t think of anything specific she had done to be dubbed a role model, she proudly recalled the smiles and respect she always bestowed on her peers. That encounter made the first thought of being a leader pop into her head and in her final year at her primary school, Kiara was made head girl. This was also the year she was awarded the Allan Gray Orbis Foundation Scholarship.

21

Kiara’s adventures in leadership and entrepreneurship have continued through her high school career, growing in variety and magnitude. She has hosted high teas, sold cosmetics, and organised booze cruises (for adults). She has also learned to deal with large amounts of money. “Once you work with a relatively large amount of money, you realise what little power it actually has.” This realisation made her question the impact her business ventures were having. Her most recent business idea highlights the plight of the environment, particularly the mountain of plastic ending up in our oceans. The idea entails creating an app that encourages shoppers to dispose of plastic waste correctly by rewarding them with discount vouchers at grocery stores. While it will take a few more years of app development before PlastiGo is a fully fledged business, the idea itself has received recognition from the Foundation community. In 2019 she was nominated as the Emerging Entrepreneur at the Foundation’s National Jamboree.

As regards leadership, Kiara has taken on many more roles since leaving primary school. She has been appointed as school prefect at her high school, as deputy head girl of her hostel and as a member of the school’s governing body. As a little cherry on top, she has been invited to the 2020 MIT Conference in Singapore.

She believes that a leader serves as a candle that sets others on fire, so she has used the platform created by her leadership positions to launch a tutoring system in her hostel. Recalling one of the songs sung at Scholarship Camp, Kiara bursts into song: “Shape the future! Start here!” These lyrics, she says, are still etched in her mind. Of the Scholarship’s impact on her life she explains: “I was not taught to become a leader, I was encouraged to nurture the seed that was already planted inside me.”

Kiara’s goal of pursuing her studies in Accounting and eventually becoming a CA is rooted in her fascination with education. From a young age she realised that not every child was able to attend school. Her best friend, who lived in an orphanage had to drop out of school due to financial constraints. She hopes that as a CA she could one day use her skills to successfully manage many schools’ finances and maybe even provide free education for all. She also dreams of building a community centre that teaches sustainable skills. Giving somebody a fish every day is one thing but teaching them how to fish is something very different!

Her greatest dream come true would be to eradicate unemployment in its totality, but she acknowledges that this is wishful thinking. All I can do is heed Nelson Mandela’s words: “Do what you can with what you have where you are.”

The Foundation has served as a source of hope in my life and in the lives of my family. Their financial support resembles the steel frames that are characteristic of any building’s strength. The Foundation has not only provided me with resources and opportunities that would otherwise be a far-off dream, they have also carried me through trying times and nurtured my spirit of entrepreneurship. They have become my soft place to fall. Being awarded the Scholarship will remain one of my life’s biggest accomplishments.

22

FELLOWSHIP Programme

2019 was a great year for the Fellowship Programme; time was spent reflecting on and evaluating the programme’s performance against key success factors. The mandate and vision of the programme was unpacked and clarified, and the typical realities and scenarios facing the Programme Participants were explored. Knowledge like this allows us to better adapt the strategic programme directives going forward. A major highlight this year was the fact that the number of Programme Participants grew significantly. This and other highlights are further discussed below. There is also a summation of key demographic figures regarding the composition of the Fellowship Programme and a description of the Fellowship selection process. Thereafter, an overview of the key YER survey results is provided according to each outcome measured for the Fellowship Programme.

23 23

Highlights

� Stakeholder engagement was a key theme in the 2019 highlights of the Fellowship Programme.

� Foundation Talent who represent the Fellowship Programme again participated in the Circle of Excellence Conference and strengthened the programme’s partnerships with all University Vice-Chancellors and organisations, such as SACE (South African Council for Educators), Vula Outreach Programme, Fun Learning for Youth, the South African Principals Association, and Kagiso Trust, to name a few.

� The programme’s most recent partnership with the Entrepreneurship Development in Higher Education Programme saw the Foundation partner with the inaugural national Entrepreneurship Intervarsity – an entrepreneurship competition involving each of South Africa’s 26 public universities.

� It was a great delight as well to observe some evidence that our programme participants were indeed developing their entrepreneurial mindset's as each of the four category winners in this competition was a Fellowship Programme Participant and was awarded a trophy as well as a R10 000 prize intended to bolster their businesses.

� Furthermore, a Candidate Fellow, Mvelo Hlophe walked away with the title of 2019 Student Entrepreneur for the best existing business with potential to make ground-breaking social impact; he also received a R50 000 prize.

“ [HOW DID YOU EXPERIENCE THE COE EVENT?] … WHAT A LOVELY

EXPERIENCE! I WAS AMAZED AT THE PROGRAMMES THAT ALLAN GRAY HAS IN PLACE

TO SUPPORT SOUTH AFRICA THROUGH EDUCATION AND ENTREPRENEURSHIP. ”

(Educator, Free State)

24


58%female

42%male

455


TOTAL CANDIDATE FELLOWS 2019455ONBOARDED 2019156GRADUATED 201981EXITED 201935

COHORT 2019SOUTH AFRICAN UNIVERSITIES ATTENDED BY CANDIDATE FELLOWS

HIGHLIGHTS

7 212Applications

received

34Candidate Fellows on the Dual track

programme

EMILE FERRERIA won the MTN award

for the most Innovative Solution

4Each of the

categories won at Entrepreneurship

intervaristy

110

Engage

52New Equip

88Equip

107Explore

84Experience

14

Nelson Mandela University

University of the Free State

University of the Western Cape

Rhodes University

University of JohannesburgStellenbosch

UniversityUniversity of

PretoriaUniversity of the

WitwatersrandUniversity of

Cape Town

6

10

10

14

16

45

54

84

197 Post Programme

77% 11% 8% 3% 1%

Black African

White Coloured Indian Asian

“ [WHAT WAS THE HIGHLIGHT OF THE YEAR FOR YOU?] … THE APPLIED ACTIVITIES WE HAD. FROM THE ENTREPRENEURIAL INITIATIVE GROUPS TO SWEAT. I LEARNT A LOT FROM THESE PROGRAMMES AS A RESULT OF THE HANDS ON APPROACH WE HAD TO TAKE. ”(Year Engage, Female, University of Cape Town, BCom)

25

FELLOWSHIP SELECTIONThe Grade 12 selection campaign commenced on the 9th of January 2019 and concluded later that year on the 8th of December with the close of the Fellowship Selection Camp. The number of schools that were visited exceeded the initial target of 250 schools by a further 138 schools. Of the 156 successful applicants to whom Fellowship offers were made, most came from a very diverse list of 112 schools spread across the country, notably rural and township schools. The completion of a research endeavour regarding entrepreneurial competencies provided the selection department with an opportunity to review and refine selection tools to ensure their validity, reliability and fairness.

Applicants are eligible when they meet the academic benchmark criteria for the Fellowship Programme, which are a level 6 achievement for pure Maths in Grade 12 and an average level 5 achievement across all subjects in Grade 11. Applicants who are already enrolled in university must have achieved a 70% average in their first year of studies. The Fellowship opportunity is open to applicants from South Africa, Botswana, Namibia and Swaziland. All applicants go through a screening process, where their application is reviewed, followed by an interview and, finally, a selection camp. The figures below display the key trends in the 2019 Fellowship selection campaign. More applications were received in the 2019 campaign (considering applicants from both Grade 12 and university) than in 2018 (see Figures 13 and 14).

—388

SCHOOLS VISITED

—156

APPLICANTS SELECTED

FIGURE 13: Applicant throughput of the university campaign for Fellowship selection in 2019

Grade 12 campaign 2018

university campaign 2018



1 209

1 244

1 409

5 804

775

614

749

977

361

183

364

164

211 88202

148

Applications Received Application Assessment Interview Camp

FIGURE 14: Applicant throughput of the Grade 12 campaign for Fellowship selection in 2019

FIGURE 15: Total Applicant throughput of the university and Grade 12 campaign for Fellowship selection in 218 and 2019

TOTAL GRADE 12

TOTAL UNIVERSITY CAMPAIGN

2 556 2018

2 7242019

2 129 2018

7 0932019

26

Most applicants who were offered the Fellowship opportunity, whether in Grade 12 or already at university, hailed from Gauteng, followed by residents from the Western Cape and KwaZulu-Natal. Also noteworthy is the fact that the majority of successful applicants identified as female and/or Black African (see Figures 16 and 17).

“ MOST APPLICANTS WHO WERE OFFERED THE FELLOWSHIP OPPORTUNITY, WHETHER IN GRADE 12 OR ALREADY AT UNIVERSITY, HAILED FROM GAUTENG. ”

FIGURE 16: Race distribution of successful applicants in the 2019 Fellowship selection campaign

Black African Coloured White Indian Asian


82 10 10 3 0


40 5 4 1 1

FIGURE 17: Successful applicants (whether in Grade 12 or already at university), who hailed from Gauteng outnumbered those in other provinces

WESTERN CAPE30

EASTERN CAPE16

FREE STATE6

NORTH WEST3

NORTHERN CAPE1

KWA-ZULU NATAL27

MPUMALANGA5

GAUTENG56

LIMPOPO12

FIGURE 18: Gender distribution of successful applicants in the 2019 Fellowship selection campaign

male female


32

73


19

32

27

28

Candidate Fellow achievements

The Programme Participants in the Fellowship Programme are commonly referred to as Candidate Fellows or CFs. Below is a table outlining their achievements for 2019 by category. The largest category is Notable Entrepreneurial Achievements, which is a clear indication of the CFs’ progression towards significant entrepreneurial action.

TABLE 6: Candidate Fellow achievements in 2019

Achievement Category Achievement

Notable Entrepreneurial Achievements

Namhla Juqu – Won The Pitch @ UCT competition; Dual-Track Candidate Fellow; Validating Penang Shirindza – Category winner at the International Intervarsity Pitch CompetitionMasedi Mathe – Released two songs this year Jessica Mandel – Expanded their Yoga studio and is now employing more instructors; turns over approximately R2mil; Dual-Track Candidate FellowVuyani Langa – Food & Connect turning of his businesses into franchise; Dual-Track Candidate FellowMvelo Hlophe – Social Entrepreneurship ambassador for Red BullMvelo Hlophe & Thandolwethu Hlongwane – Their business Zaio accepted into Injini EdTech Incubator; cohort 3 (8 companies, 1 of 2 South African)Mvelo Hlophe – Grand prize winner at the International Intervarsity Pitch CompetitionStan Shikwambana – Expanded the business Visionary Writers across the South African borders to a few neighbouring marketsLeila Siljeur – Won the inaugural Lion’s Den at Jamboree; not currently a Dual-Track Candidate Fellow, but engagements will be treated as suchGrace Masitha – Won Innovation Award at Jamboree Xabiso Lombo – Social Entrepreneurship ambassador for Red BullDenislav Marinov – Category winner at the International Intervarsity Pitch Competition Musa Maluleke – Category winner at the International Intervarsity Pitch Competition

Exchange Programme Lutholwethu Dabula – TrepCamp

International Leadership Opportunities

Denislav Marinov – Visited to Oxford to contribute to the work being done on developing low-cost medical equipment Lunako Mthenjana – Attended the 2019 Business International Conference in New York to discuss discuss “The New Era of Globalization” with other undergraduates and top business executives

Other Notable achievements

Henry le Roux – Bodyboard SA Pro Competition; placed 4th and won “move of the contest” award (2019)Nthatisi Mota – SA Water Polo team; participated in Korea’s (July 2019) Games and won UFS sportswoman of the year (2019)Phumzile Konile – Wrote an article about the Zeitz MOCAA for DETAIL magazine (an international architecture magazine)Ntobeko Sishi – Permanent host presenter of Youth TV show Hectic9nine on SABC (2019);starred in Signal High, which aired on SABC (2018)

National Achievement

Emile Ferreira – Named developer of the year at the App of the Year awards hosted by MTN; “Bestee” won the category for the most innovative solutionSikholiwe Mdletshe – Qualified for South Africa’s under-21 netball team; captained under-20 national netball team at the Africa Union Sport

The table below outlines the Candidate Fellows who participated in the Entrepreneurship Intervarsity and their respective business ideas.

TABLE 7: Candidate Fellows participating in the Intervarsity Pitch Competition

# Name and Surname Business/Idea

1 Iviwe Mosana Eagle Eye2 Mvelo Hlophe Zaio3 Sinqobile Mashalaba Nisa Finance4 Tsepang Khoboko TAQA5 Xabiso Lombo Guardian Gabriel6 Stan Shikwambana Visionary Writings7 Elijah Djan Nubrix8 Thamsanqa Hoza Hot Nozzle9 Denislav Marinov DVM Designs

10 Cameron Lovemore Eatin11 Thembi Khumalo Sew What Repairs12 Tshegofatso Bogatsu Tsi-Tsi Edible Pacifier13 Bulelani Mbanga Ellipsis14 Edward Moetapele Plug15 Mufunwa Mudzanani Phanda16 Phetha Mchunu Grid Pit

29

30

Fellowship Programme

Candidate Fellow trends

The Fellowship Programme tracks the success of its Candidate Fellows (CFs) and the programme itself according to three key indicators – programme intake, academic and entrepreneurship indicators. Measuring the extent to which Programme Participants are retained in or exited (released) from the programme and measuring the extent to which they are academically and entrepreneurially engaged allow for more nuanced assessments of the Fellowship Programme’s growth and the challenges faced by Programme Participants. What follows is a discussion of the three key indicators.

Programme Intake Indicators

—458

TOTAL NUMBER OF CANDIDATE FELLOWS

September 2019

—3

INTERNATIONAL CANDIDATE FELLOWS

GRADUATEDSeptember 2019

—35

CANDIDATE FELLOWS EXITED FROM THE

PROGRAMMEDid not meet the Fellowship

Programme’s academic requirements for annual renewal

—156

APPLICANTS OFFERED FELLOWSHIP

OPPORTUNITYEnd of 2019

Academic Indicators

—81

GRADUATED IN 2019

—342

PROGRESS TO THE FOLLOWING

YEAR

—83

ACHIEVED 75% & ABOVEFirst Class Pass

60%—

AND ABOVE PASS ATTAINED BY

314

50%—

AND ABOVE PASS ATTAINED BY

320Entrepreneurship IndicatorsDual Track is a programme stream within the Fellowship Programme that allows Candidate Fellows who have businesses to participate in the programme while being fully committed to operating their businesses.

The Fellowship Programme’s academic related requirements are reduced for Dual-Track Candidate Fellows so that they are able to manage their academic, programmatic and business workloads. Moreover, Dual-Track Candidate Fellows participate in a business incubation programme of the Association of Allan Gray Fellows called IVC (Ideation, Validation and Creation).

This is to ensure that they receive the best guidance, advice and mentorship to help grow their businesses. In 2019 there was 34 Dual-Track Candidate Fellows, running 34 businesses.

—34

DUAL-TRACK CANDIDATE FELLOWS

—34

RAN BUSINESSES

31

Candidate Fellow demographics

The demographic profile of the Fellowship Programme in 2019, was similar to that of 2018. South African nationals (94.5%) formed the majority of the cohort, while 77% of all Candidate Fellows identified as Black African and 58% of Candidate Fellows identified as female.

The Fellowship Programme is organised according to the year in which a Candidate Fellow is in their Fellowship Programme journey. This runs parallel to their year of study at university as well as their participation in the programme content for that particular year. The year group categories are as follows: � Year Engage (referring to Candidate Fellows who have been

selected through the Grade 12 campaign and are in their first year of university study),

� Year Equip (referring to Candidate Fellows in their second year of university study, some of whom were selected through the university campaign),

� Year Explore (referring to Candidate Fellows in their third year of university study),

� Year Experience (referring to Candidate Fellows in their fourth year of university study); and

—430

SOUTH AFRICAN NATIONALS MAJORITY OF THE COHORT

—58%

CANDIDATE FELLOWS IDENTIFIED AS FEMALE

32

� Post Programme (referring to Candidate Fellows whose degree programmes extend beyond four years). Post-Programme Candidate Fellows usually pursue specialised degree streams, some of which are offered at international partner universities. The name of each year group also reflects the type of personal and entrepreneurial development Candidate Fellows are set to experience that year. In other words, Year Engage Candidate Fellows engage with the topics of personal and entrepreneurial development whereas in their second year, as part of Year Equip, they are equipped with skills and tools to develop themselves further. In their third year, Candidate Fellows begin to explore future career paths and where it might take them. In their fourth year Candidate Fellows consolidate their learning and experiences over the previous years of the programme and begin to chart their futures.

Most Candidate Fellows in 2019 were in the formative year groups – Year Engage and Year Equip – and make up 55% of the total cohort in the Fellowship Programme. This figure is consistent with previous years.

In 2019 the largest cohort of Candidate Fellows according to year group was Year Equip. This year group is separated into New Equip, referring to Candidate Fellows that were newly selected through the university campaign, and Equip, referring to those Candidate Fellows who were selected through the Grade 12 campaign and had progressed from their first year of study. This pattern was consistent with that of previous years.

FIGURE 20: Distribution of Candidate Fellows by year of study at university in 2019

110

140107

84

14 Year Engage Year Equip Year Explore Year Experience Post Programme

As in previous years, Candidate Fellow enrolment at the University of Cape Town exceeded that of other universities. The two other universities that drew the largest number of Candidate Fellows were Wits and the University of Pretoria.

—55%

YEAR ENGAGE AND YEAR EQUIP FELLOWSHIP PROGRAMME

COHORTS

—140

YEAR EQUIP CANDIDATE FELLOWS

—197

CANDIDATE FELLOWS ENROLLED AT THE UNIVERSITY

OF CAPE TOWN

FIGURE 19: Distribution of Candidate Fellows by nationality

Botswana

6

Namibia

15

South Africa

430

Swaziland

4

33

Fellowship Programme attrition The Foundation has maintained a consistent but worrying retention rate of 84% over time. This has been due to the various challenges that our beneficiaries continue to experience. Of the Candidate Fellows who exit the programme, most are in their first or second year, or put differently in Year Engage and Year Equip.

In all cases the Faculties of Commerce, Science and Engineering were the ones with high attrition. More often than not the reasons for attrition are related to mental health challenges, ineffective coping methods, the inability to adjust to the new context and having chosen an unsuitable degree. Most first year students tend to feel overwhelmed by the changes presented by the campus environment. When students become negative for whatever reason, it impacts on their academic achievements.

Psychosocial issues Psychosocial issues continue to grow among Programme Participants. Before the end of the 2019 exams, 65 Candidate Fellows were reported to have experienced, or were still experiencing, some form of psychosocial distress. This accounts for 15% of the entire Fellowship community who are based in South Africa.

Entrepreneurial action Until recently, the Foundation has only assisted Fellows (i.e. those who had already graduated the Fellowship and their degree programmes) with their business ideas through an Association incubation programme called the Ideation, Validation and Creation (IVC) programme.

In 2018, however, a Dual-Track programme was piloted to assist Candidate Fellows who already had businesses. Both the IVC and Dual-Track programmes have been relatively successful to date. In September 2019 a proposal was put forward to the renewals board sub-committee that the Dual-Track programme should be available to any Candidate Fellow who has developed an idea or a business.

This motion was approved. There are currently 34 Dual-Track Candidate Fellows, of whom 16 have been awarded grant allocations of either R50 000, R100 000 or R150 000 from E2 through our programme called, “Varsity Pitch”.

34 34


The Fellowship Programme is measured against nine of the ten ToC outcomes. There was a decrease of 2% in the overall Theory of Change index scores for the Fellowship Programme in 2019 compared to previous years. For all but two ToC outcomes, the scores have dropped.

Outcome 7 and 9, which relate to Programme Participants developing improved entrepreneurial mindset, competencies and the ability to work collaboratively, were the highest scoring outcomes.

Outcome 6 and 8, pertaining to the understanding of responsible entrepreneurship and pursuing life-long learning, were among the lowest scoring outcomes.

TABLE 8: Theory of Change index scores for the Fellowship Programme in 2019

Outcome 2015 (n=194) 2016 (n=228) 2017 (n=263) 2018 (n=255) 2019 (n=303)

O2 Beneficiaries have a greater self-awareness and awareness of themselves in relation to others 87% 77% 79% 81% 78%

O3 Beneficiaries achieve academic excellence 52% 51% 49% 49% 50%O4 Beneficiaries value collaboration 72% 71% 63% 65% 64%O5 Beneficiaries value the Allan Gray Orbis Community 87% 87% 86% 87% 79%O6 Beneficiaries understand and value responsible entrepreneurship 40% 68% 39% 41% 39%

O7 Beneficiaries have developed an improved entrepreneurial mindset and competencies 74% 77% 77% 77% 78%

O8 Beneficiaries pursue life-long learning 26% 29% 31% 32% 25%O9 Beneficiaries work collaboratively on entrepreneurial activities 65% 66% 73% 73% 77%

O10 Beneficiaries intent on becoming high-impact responsible entrepreneurs 75% 76% 80% 81% 77%

INDEX 65% 68% 65% 66% 64%

78%

—OUTCOME 2

Greater self-awareness and awareness of themselves in relation to others

79%

—OUTCOME 5

Valuing the Allan Gray Orbis Community

35


Overall, Candidate Fellows had a positive experience of the Fellowship Programme in 2019. While the satisfaction ratings were lower compared to the previous year, it still remained high. Some Candidate Fellows experienced an increase in workload due to the introduction of the online learning platform and its related curriculum. These trends are illustrated in the accompanying figures.

The Fellowship Programme had a Net Promoter Score of 68, which was 16 points lower than the previous year, where the NPS rating for the programme was 84. The decrease in score is due to Candidate Fellows’ increased workload mentioned above. Figure 23 illustrates the NPS rating of various Fellowship Programme events held during the year. In most cases the events were rated above 30, indicating relative satisfaction.

FIGURE 21: Candidate Fellow experience of Fellowship Programme in 2019

CANDIDATE FELLOW

EXPERIENCE 2019

51% good

15% ok

2% terrible

27% wow

6% bad

FIGURE 22: NPS scores of the Fellowship Programme across events in 2019

Jamboree

COE

Selection Camp 1 – Talent

Selection Camp 2 – Talent

Selection Camp 2 – Candidates

YER

73

100

21

46

94

68

FIGURE 23: NPS scores of the Fellowship Programme by year group

Year Engage Year Equip Year Explore Year Experience Post Programme

76 59 64 6077

–100 +100

0

+30–30

+50–50

–70

CANDIDATE ALLAN GRAY

FELLOW RATING 2019

68

Not likely at all

Extremely likely

Neutral

NPS

36

FIGURE 26: Candidate Fellows in Year Equip and Year Engage intent on entrepreneurship

Strongly Disagree

Disagree

Neither Agree or Disagree

Agree

Strongly Agree

0

4

2

8

12

9

28

32

35

34

Year Engage Year Equip

FIGURE 24: Candidate Fellow leadership self-rating

LEADERSHIP SELF RATING

(N=242)

88.97% yes

10.66% unsure

0.37% no

There was a 2% drop in the total number of Candidate Fellows who considered themselves leaders when compared to 2018 results (see Figure 23).

Across year groups, Candidate Fellows exhibited a strong intention to become entrepreneurs within the next seven years (see Figures 24 and 25). This is an indication that the Fellowship Programme’s curriculum and content compels Programme Participants to think about their careers differently. It is also an early indication of the Fellowship Programme’s impact.

In 2019 the aspects of the programme that Candidate Fellows enjoyed were consistent with those indicated by previous cohorts. They included connecting with other Candidate Fellows, interacting with Personal Leadership Programme Officers (PLPOs) and Entrepreneurship Leadership Officers (ELOs), participating in Jamboree, engaging with the online learning platform (OLP) and receiving mentorship. Key sentiments from Candidate Fellows that elaborate on these aspects are quoted below.

FIGURE 25: Candidate Fellows in Year Explore, Year Experience and Post Programme intent on entrepreneurship

Strongly Disagree Disagree Neither Agree or Disagree

Agree Strongly Agree

2 0 0 7 4 2 6 6 0 20 15 2 28 16 1

Year Explore Year Experience Post Programme

37

38

JAMBOREE

“ Jamboree. It opened my eyes to the incredible minds of those around me and truly inspired me. ” CF, Year Engage, YER survey

The national Jamboree has always been a flagship initiative of the Fellowship Programme, but in 2019 the event was opened to not only Candidate Fellows but to Scholars as well as Fellows for the first time in Foundation history. From 5–7 July 2019, the Jamboree became the gathering place for over 800 South African youth in a bid to inspire, educate, connect and engage with one other.

As before, the Jamboree focused on celebrating entrepreneurship. The 2019 theme was “ideas can change the world!” During the three days of Jamboree, Programme Participants considered the African entrepreneurship context, the needs of business clients, and the practicality of going out and doing entrepreneurship. Throughout the weekend Programme Participants had the opportunity to pitch their business ideas and receive input from their peers. Long before the actual Jamboree, participants from all three programmes submitted videos showcasing their business ideas. We received a total of 72 ideation pitches and 15 venture pitches or “Lion’s Den” pitches. The latter are called venture pitches because they are from individuals who are already running a business. Candidate Fellows dominated in both categories: they presented 12 of the final 15 ideation pitches and 7 of the final 10 venture pitches. It was no surprise then that the Jamboree winners of both categories were Candidate Fellows: the ideation pitch was won by a Candidate Fellow from the University of Johannesburg and the Ideation pitch by a Candidate Fellow from Stellenbosch University.

The 2019 Jamboree was rated higher than in 2018, and all the pitching activities were rated in the top five events.

CONNECTING WITH OTHER CANDIDATE FELLOWS

“ Connecting with like-minded people has been of more value to me than I can describe. It has reignited my desire to make a significant difference in the world and leave it a better place than I found it. To be honest, I have always felt like an outlier. Which I something I had come to accept, but in the Fellowship, for the first time, I have felt that you can feel like an outlier but still feel like you belong. There is no feeling quite like it. ” (Dual-Track CF, Year Equip, YER survey)

PLPO AND ELO SUPPORT

“ The sessions with the PLPOs and ELOs as well as the submissions that highlighted the importance of constant awareness of self and reflection. ” (CF, Year Engage, YER survey)

ONLINE LEARNING PLATFORM

“ I enjoyed the modules; on the platform although it was sometimes a bit hectic with all the academic work. ” (CF, Year Equip, YER survey)

MENTORSHIP

“ The mentorship has been the greatest thing. Having a mentor that guides me emotionally and in my career has been amazing. ” CF, Year Experience, YER survey

Mentor recruitment was very successful in 2019. Our initial goal was exceeded and we now have 76 mentors (and counting). 2019 also saw the development of a guide for mentors called the Mentorship Module and the launch of a platform called Everwise.

QUOTE TEXT, QUOTE TEXT, QUOTE TEXT, QUOTE TEXT, QUOTE TEXT,

QUOTE TEXT, QUOTE TEXT.Quote Author

YOU MUST LEARN TO SWALLOW YOUR PRIDE, BE AWARE OF

YOUR LIMITS AND REACH OUT FOR HELP ALONG THE JOURNEY.

Denislav Marinov

FELLOWSHIP IMPACT STORY DENISLAV MARINOV

“A whole new world” the popular theme song of the movie Aladdin pops into a one’s head when the name Denislav Marinov comes up. A modern-day Aladdin, Denislav emerged from his parents’ garage, a fictional mountain cave, jumped onto a magic 3D carpet and began shaping a whole new world.

Eight years ago, while still in high school, Denislav started a 3D printing and design business as a service for family and friends. Denislav’s curiosity and desire to understand the inner workings of the universe led him to pursue a BSc in Physics and Chemistry at the University of Cape Town. He has since graduated and is now working towards a postgraduate degree in Materials Science – a science he says, will revolutionise industry and shape the world of tomorrow.

From its humble beginnings in a garage, his 3D printing and design business has since grown tremendously. Rebranded in 2020 as Amnova Tech, it now services schools and large organisations, and boasts completed projects for institutions such as the University of Oxford and Nescafé. Amnova Tech designs and manufactures its own range of additive manufacturing technologies ranging from educational 3D printers to industrial grade manufacturing machines. They also use their own proprietary tech to offer customisable 3D printing services. They have vertically integrated the entire rapid prototyping process and offer their clients a quick and affordable path to get their products to market.

Denislav’s eyes twinkle when asked about his greatest achievements. No, he’s not thinking about all his feats in business. For Denislav, his greatest achievement is sparking curiosity in the youth.

39

To help a person find their passion and take action is far more rewarding for him than any recognition or honour. During a 3D printing workshop he conducted at his alma mater, St Stithians Boys’ College, he did just that. A student was inspired to design and build his own 3D printer from scratch. That student continues to develop his tech and consistently contributes to the knowledge in this field. Denislav believes that the art of teaching is the art of assisting discovery, which is how he aspires to nurture and encourage future engineers and scientists.

His passion for the community fuels his love of technology. Not only does he want to develop new materials through 3D printing to transform and uplift the community, he also hopes to advance education. The youth is the African continent’s most powerful tool for upliftment, but their power can only be unleashed through quality education that promotes questioning and critical thinking as opposed to submissiveness. African youth are conscious of the current socioeconomic landscape and yet our thinking transcends our immediate surroundings; it has the potential to drive global change.

If Denislav could make a wish like the fictional Aladdin, he would wish away the inequality in our society. As much as technology can empower people and improve their living conditions, it can also widen the inequality gap. He strives to address this issue by democratising technology and using it for social justice. Enter his affordable 3D printing housing programme. Growing up, Denislav witnessed countless families living in substandard conditions, becoming increasingly aware of the immense housing challenge in South Africa. That awareness has turned into a burning desire to end the housing crisis and ensure that every person has a safe, secure and sustainable home to live in. Using his 3D Printing, he has been developing a large format construction system intended to mass produce affordable housing for all.

When asked about leadership and entrepreneurial skills he is quick to answer that everyone has the potential to become a leader and/or an entrepreneur. However, only those whose enterprising spirit is nurtured will eventually succeed. He believes that entrepreneurship is not so much taught as it is untaught. You can learn how to more effectively manage people or solve problems, but the fundamental entrepreneurial drive is deeply ingrained in all of us. He is saddened by the fact that the current societal structure hampers this imaginative spirit, causing many to stray from the path of entrepreneurial discovery, falling – unknowingly – from their magic carpets!

He was fortunate to have grown up in a home where his curiosity and creativity was encouraged. A grateful Denislav also recounts the support of the Allan Gray Orbis Foundation throughout his academic career. The Foundation has equipped me with priceless skills and knowledge to assist me in navigating the complex entrepreneurial landscape. They identified my talents and nurtured them, investing not only money but time to ensure I get the support I need to become a high-impact leader. Being part of the Fellowship Programme has also taught me the value of community and that working in isolation will only get you so far. An often repeated mantra among the Foundation community is this: “If you want to go quickly, go alone. If you want to go far, go together.” You must learn to swallow your pride, be aware of your limits and reach out for help along the journey, says Denislav. Thanks to the Foundation, he has been linked with likeminded individuals who have become friends and confidantes on this entrepreneurial journey.

As long as Denislav stays balanced on his magical 3D carpet and as long as he is supported by likeminded allies, he will continue on his journey to show us dazzling places we never knew, and take us, wonder by wonder, to a whole new world!

40

41

In 2019 the Association of Allan Gray Fellows revised its strategy, using a market segmentation approach. This resulted in tailored interventions for each Fellow profile that emerged from various data analysis and research exercises. There were also considerable efforts to drive up Fellow engagement, address concerns that have been raised by Fellows in the past, and fully understand what factors motivated engagement or disengagement. This section highlights the key trends related to the work carried out by the Association in 2019 as well as the demographics of the Fellow population. Thereafter, it discusses key findings from the YER survey.

The Association is gaining significant momentum. The revised strategy, the five-portfolio offering and adjustments to the messaging (that entrepreneurship is part of a journey) are paying dividends. The results achieved during the year are summarised below.

ASSOCIATIONProgramme

41

42

HIGHLIGHTS

—The refined Ideation, Validation

& Creation (IVC) incubation programme was successfully

launched, which allowed Fellows to engage in venture building at a pace suitable to

each individual’s context.

—The number of participants in the IVC increased by 257%,

from seven Fellows in 2018 to 25 Fellows in 2019.

—The Association recruited and

trained 21 top business coaches to assist with the provision

of the IVC.

—The Nostalgia Campaign,

a marketing initiative conducted by the

Association, was highly successful. The response

rate was significantly higher than previous years. Data were gathered from 267 Fellows (62% of the community), revealing

important insights, especially with regard to the

number of entrepreneurs within the Association.

—The team has developed

strategic partnerships with numerous organisations in the

entrepreneurial ecosystem that have been key to

enabling quality support and development for Fellows, both in their personal capacity but

also in their ventures.

—Findings from the Nostalgia

Campaign show that 132 Fellows (30% of the

community) were engaging in entrepreneurial action and

venture development. This was a significant increase (59%

increase) from the 83 Fellows (21% of the community) who

took action in 2018.

—The total number of Fellows who operated as full-time

entrepreneurs totalled 66 in 2019 (15% of the community).

The comparative figure for 2018 was 42 Fellows. This represents an increase of 24 new full-time

entrepreneurs.



57%female

43%male

432

GEOGRAPHICAL SPREAD

600+

Jobs created

132

Fellows engageing in entreprneurial activity

25

IVC Entrants 257% growth

from 2018

2

2 Fellow businesses valued at R1 Billion

HIGHLIGHTS

49%211 Gauteng

34%146 Westen cape

9%37 Other SA

4%18

1%3 SADC

4%17

International

No Location

—432

FELLOWS IN THE ASSOCIATION

—132

ENGAGING IN ENTREPRENEURIAL ACTION

—66

FULL-TIME ENTREPRENEURS

—21

TOP BUSINESS COACHES RECRUITED

AND TRAINED61% 15% 12% 10% 2%

Black African

White Indian Coloured Asian

43

Fellow achievements

There were several significant success stories related to Fellow-run ventures this year. Yoco and Go1 continued to be standout ventures, each making a significant impact in their relevant markets. 2019 also saw the largest single investment by E2 into a Fellow business: Suzie Nkambule managed to secure financing for the buy-out deal of Aveng Water in order to become Nafasi Water. 2019 certainly confirmed that momentum was starting to build in the community. Table 9 shows the Fellows that sought funding in 2019 and the outcome of their efforts.

There were also noteworthy achievements made by Fellows in areas outside of venture development. Several of them were nominated, recognised and selected as winners of numerous awards and accolades for their success and impact across many areas of society. The Association is incredibly proud of each of their achievements. Table 10 provides details about the Fellows who received awards, accolades and scholarships from other prestigious organisations.

TABLE 9: Fellow funding obtained in 2019

Funder Amount Fellow

E2 Investment Committee Funding (six deals)

Undisclosed Suzie Nkambule – Nafasi WaterUndisclosed Dineo Lioma & Daniel Ndima – Cape BioUndisclosed Matthew Piper – Khula!Undisclosed Sakhile Mabena – Opulous FinanceUndisclosed Benjamin Shaw – House MeUndisclosed Esethu Cenga – The Rewoven Company

E2

Soft Funding DealsValidation grants (R30k)Creation grants (R60k)Accelerator Equity (R300k)

Validation R30k

Thandeka Xaba – Glam AllyKarabo Thinane – My GradOnkgopotse Khumalo – Mindcast Jennifer Mpho Lebethe – Building BlocDaniel Ndima & Esethu Cenga – Cape Bio

CreationR60k

Thandeka Xaba – Glam AllyMeshack Muluadzi – Kaelo Black BeautyDaniel Ndima & Esethu Cenga – Cape BioSeadimo Tlale – Resilient Entrepreneurs Drive

AcceleratorR300k

Esethu Cenga – The Rewoven CompanyLesedi Kgaka – OccuPi SpaceBlaine Fortuin – Migration Tatoos

Savant CapitalDIAGEO Empowerment Trust Undisclosed Ntandoyenkosi Shezi – Jonga

SA SME Fund Undisclosed Thandeka Xaba – Digital African VenturesDIAGEO Empowerment Trust Undisclosed Prince Nwandeyi – Ispani GroupUndisclosed Undisclosed Lethabo Motsoaledi – Voyc.ai Microsoft Venture Fund (M12) Undisclosed Melvyn Lubega – Go1

44 44

TABLE 10: Fellow accolades awarded in 2019

AWARD FELLOW

Mail & Guardian 200 Young People Thato Mabudusha (Health Sector):https://200youngsouthafricans.co.za/thato-mabudusha-health-2019/Kentse Radebe (Health Sector):https://200youngsouthafricans.co.za/kentse-radebe-health-2019/Dineo Lioma (Business & Entrepreneurship):https://200youngsouthafricans.co.za/dineo-lioma-business-2019/Thato Lufuno Mahosi (Civil Society):https://200youngsouthafricans.co.za/thato lufuno mahosi-civil-2019/

Forbes 3 Under 30 Matthew Piperhttps://www.forbesafrica.com/30-under-30/2019/07/01/30under30-technology-category-2019/

SAICA 35 Under 35 Nkatekp Mathebulahttps://magazine.accountancysa.org.za/publication/?i=606572&Reference_ID=62408447#{%22issue_id%22:606572,%22page%22:68}

Obama Programme Thandeka Xabahttps://www.obama.org/africa/

FirstRand Laurie Dippenaar Scholarship Lonwabo Mgoduso (marked as the top candidate)Studying a master's in engineering at Cambridge University in the UK.

Promotions and Job Movements • Sizwe Nxumalo, Head of Strategy: Vitality Discovery• Danisa Nkuna, Business Development Executive, Discovery• Kihisha Suleman, Customer & Strategy Operations Manager, Uber• Sharon Kunaka, qualified for CA in 2019

45

Fellow demographics and trends

At the start of 2019 49 more Candidate Fellows were inducted as fully-fledged Fellows into the Association of Allan Gray Fellows, representing a 13% increase from the number of Fellows inducted in 2018. This brought the total number of Fellows in the Association to 432; a number made up from 11 graduating classes since 2008.

Our community has grown to 432 members. A community size that exceeds 500 members is expected by March 2020, following Candidate Fellows’ graduation and induction into the Association.

The geographic spread of Fellows is greater than any of the other Programme Participants. Most Fellows still reside in South Africa, with 49% of them residing in Gauteng and 34% living in the Western Cape. However, there is a growing group of Fellows who reside in other parts of the world. At present 9% of Fellows live abroad.

—132

NUMBER OF ENTREPRENEURS IN THE ASSOCIATION

—66

ACTIVELY PURSUING PART-TIME BUSINESS OPPORTUNITIES

46

Table 11 gives a breakdown of the Association community by type of career being pursued. The part-time entrepreneur list is made up of Fellows who are either studying or working full-time while developing a venture. The total entrepreneurial conversion rate for the community (i.e. those who are actively engaged in developing a venture) was 30.6% in 2019.

TABLE 11: Distribution of Fellows by employment type

2019 (#) 2019 (%)

Full-time Employed Only 264 61%

Full-time Student Only 36 8.33%

Part-time Entrepreneur 66 15.33%

Full-time Entrepreneur 66 15.33%

Total Fellows 432 100%

As in previous years, the top five employers of Fellows in 2019 were Allan Gray Limited, Deloitte, Bain & Co., Investec, and the First Rand Group. A summary of the top ten employers of Fellows are found in Table 12.

TABLE 12: Top Employers of Fellows

Company 2017 2018 2019

Allan Gray Ltd 10 15 16Deloitte 10 3 12Bain & Co 9 6 12Investec 8 7 11FirstRand Group (RMB, FNB) 5 12 9McKinsey & Co 13 9 9Standard Bank 8 7 9Discovery 5 7 6PwC – 4 6Old Mutual 5 3 6

2019 was an outstanding year for the Association in terms of recorded ventures. With 49 new ventures recorded, the total number of entrepreneurs in the Association now stands at 132 Fellows (30% of the community). In addition to this, the team noted a total of 25 Fellows taking part in the Ideation, Validation and Creation (IVC) programme, a remarkable 257% increase from the number of Fellows that were part of IVC Programme in 2018.

TABLE 13: Distribution of IVC Fellows

Maturity Stage

FT 2018

PT 2018

Total 2018

FT 2019

PT 2 019

Total 2019

New 2019

Ideation 3 6 9 5 19 24 15Validation 13 20 33 25 36 61 28Creation 12 11 23 17 8 25 2

Scale 14 4 18 19 3 22 4Total 42 41 83 66 66 132 49

30.6%

—TOTAL ENTREPRENEURIAL

CONVERSION RATE 2019

15.33% Part-time

Entrepreneur

8.33% Full-time

Student Only

61% Full-time

Employed Only

15.33%Full-time

Entrepreneur

DISTRIBUTION BY EMPLOYMENT

TYPE 2019

47

Entrepreneurial Intent

Adapting the messaging within the Association – that entrepreneurship is part of a journey – seems to have resonated with Fellows. This approach as acknowledges that everyone’s journey is different. The mindset change has been integral to getting more Fellows engaged in their own journeys and this has been a key step on the path to helping Fellows become more entrepreneurial. The strategy for the Association team has been to first get Fellows engaged in community-related events and activities after which the messaging is positioned to develop intent.

The gender breakdown of Fellow entrepreneurs is an important metric that the Association team focused on as we are looking to increase the ratio of women entrepreneurs to reflect the demographics of the Association. The gender breakdown for 2019 showed that of the 132 entrepreneurs in the Association 74 (56%) were male and 58 (44%) were female, despite the fact that the majority of Fellows in the Association were female. The gender breakdown for 2018 was 1% less in each case: 57% male and 43% female. The New Frontiers conference aspires to close this gender gap by encouraging and supporting woman entrepreneurs to join the IVC or embark on their own journeys.

One of the focus areas for the year involved connecting with disengaged Fellows. A number of initiatives were carried out to ensure that the team was able to understand and better address any concerns that may have been causing the Fellows to disengage historically. As a result, community engagement and participation greatly improved in 2019 (see Figure 27).

The increase in engagement in 2019 was enabled by several factors: a revised newsletter, an improved communication strategy, improved messaging, a marketing campaign (Nostalgia Campaign), a range of tailored events and activities relevant to the various Fellows’ contexts, and the introduction of the new portfolio offerings. Several Fellows highlighted that the new value proposition was a compelling reason for them to become and stay engaged with the Association, something that they did not feel existed before.

FIGURE 26: Gender Distribution of Association Entrepreneurs

132entrepreneurs

44%female

56%male

“ [VALUE DERIVED FROM ATTENDING THE ASSOCIATION

IMBIZO EVENT] … LEVERAGE NETWORK FOR MARKET

ACCESS + DEALS + SUPPORT IN ENTREPRENEURIAL

JOURNEY. ”(Fellow, 2016 Induction Cohort)

48

FIGURE 27: Pipeline of Fellow engagement

—414

—325

—215

—130

Baseline Engagement�

Intermediate Engagement�

Advanced Engagement�

Fellow Entrepreneur

�

Opened NewsletterOr

Contacted via Phone

OrResponded to Survey

Baseline Engagement And

Attended an EventOr

Interacted on FacebookOr

Attended One-on-one Meeting

Intermediate Engagement

AndMember of a Forum

OrIn Active Service for

AssociationOr

Fellow Entrepreneur

Attended IVCOr

Running a BusinessOr

Providing Employment

96%

—BASELINE

Up from 91% in 2018

75%

—INTERMEDIATE

Up from 50% in 2018

50%

—ADVANCED

Up from 33%in 2018

30%

—ENTREPRENEUR

Up from 14%in 2018

As can be seen from Figure 27 and Table 14, the majority of Fellows had two contact points with the Association in 2019: attendance at an event and engaging with the newsletter. There were instances were Fellows attended more than one event, but attending more than three events was rare. Fellows’ selectiveness with regard to frequency of engagement reflects their individual time constraints and also what they find appealing.

TABLE 14: Fellow engagement in 2019

Events # Engaged (Survey & Newsletter incl.) % # Engaged (Survey &

Newsletter incl.) %

0 Events 18 4% 137 32%1 or more Events 414 96% 295 68%2 or more Events 311 72% 192 44%3 or more Events 208 48% 129 30%4 or more Events 152 35% 86 20%5 or more Events 101 23% 57 13%

4949


The Association Programme is measured against Outcomes 4, 5, 6, 7, 8 and 10. In 2019 there were many initiatives aimed at collecting data from Fellows to understand their programme experience. Many of these efforts overlapped with each other. As a result, Fellows experienced research fatigue, which led to a lower YER survey response rate than the previous year. Nonetheless, the overall ToC index scores were higher compared to the previous year.

The two highest outcome scores were related to entrepreneurship development. Outcome 6: Programme Participants value and understand responsible entrepreneurship; and Outcome 10: Programme Participants intend to become high-impact responsible entrepreneurs. The two lowest-scoring outcomes were Outcome 5: Programme Participants value the Allan Gray Orbis Foundation community; and Outcome 8: Programme Participants pursue life-long learning (see Figure 28 and Table 15).

85.5%

—OUTCOME 10

Programme Participants intend to become high impact responsible entrepreneurs

84.8%

—OUTCOME 6

Programme Participants understand and value responsible entrepreneurship

FIGURE 28: Theory of Change Index Scores for the Association of Allan Gray Fellows

2015 (n=?)

2016 (n=89)

2017 (n=136)

2018 (n=134)

2019 (n=15)

71%

74%

63.8%

67.2%

74.6%

TABLE 15: Theory of Change Index Scores for the Association of Allan Gray Fellows

Outcome 2015 2016 2017 2018 2019

O4: Programme Participants value collaboration 68% 69% 64.2% 69.8% 65.0% (down from previous year)

O5: Programme Participants value the Allan Gray Orbis community 81% 76% 67.0% 66.2% 63.3% (down from previous year)

O6: Programme Participants understand and value responsible entrepreneurship 66% 78% 62.9% 69.9% 84.8% (down from previous year)

O7: Programme Participants have developed improved entrepreneurial mindset and competencies 77% 79% 74.0% 74.8% 74.4%

(down from previous year)

O8: Programme Participants pursue life- long learning 89% 89% 66.9% 70.9% 65.0% (down from previous year)

O10: Programme Participants intend to become high impact responsible entrepreneurs 54% 60% 50.2% 54.9% 85.5% (up from previous year)

50


The Association had a lower Net Promoter Score (NPS) score in 2019 than in previous years (see Figure 29). In comparison, the Fellowship Programme was rated higher than the Association but the NPS score for the Fellowship Programme was nonetheless lower than previous years. It should be noted, however, that these scores are reflective of only a subsample of the total Fellow population.

FIGURE 29: Net Promoter Score of the Association of Allan Gray Fellows

Fellowship Programme Association of Allan Gray Fellows

NPS 2016 NPS 2017 NPS 2018 NPS 2019

80% 47% 80% 44% 82% 64% 80% 53%

–100 +100

0

+30

+50

–30

+70

–50

–70

FELLOWS NPS FOR

FELLOWSHIP

80

Not likely at all

Extremely likely

Neutral

NPS

53

–100 +100

0

+30

+50

–30

–50

–70

FELLOWS NPS FOR

ASSOCIATION

Not likely at all

Extremely likely

Neutral

NPS

51

MY GOAL IS TO INVEST IN COMPANIES SO EXCITING THEY KEEP ME UP AT NIGHT,

OR TO INVEST IN BUSINESSES I WISH I HAD STARTED.

Melvyn Lubega

ASSOCIATION IMPACTMELVYN LUBEGA

Entrepreneurship: A way of viewing the worldAs a kid, Melvyn Lubega was always on the lookout for opportunities to make some money, whether that meant watering the garden or selling toasted sandwiches to hungry school friends after the tuckshop had closed. That entrepreneurship is in his blood is indisputable – but, says the director of Go1, there’s no doubt that his time with the Allan Gray Orbis Foundation honed this innate quality.

Melvyn still has a notebook dating from his time as a participant in AGOF’s Fellowship programme. On its cover is written the quote, “There are none so blind as those who do not see” – a saying which summarises how Melvyn feels about entrepreneurship. “It’s one thing to be a business owner, but quite another to have the ability to view your world through an entrepreneurial lens, which enables you to find opportunities and solutions to challenges,” he explains.

Melvyn’s parents created the foundation for his entrepreneurial leanings – he reveals that his father was a medical doctor who also owned businesses such as a butchery and food takeaway. “He had three doctorates, but he was always looking for the next thing,” Melvyn recalls. Meanwhile, his mother – who, like his dad, hailed from Uganda – had earned a scholarship to study, and it was from her that he learned the value of hard work and education, which he still regards as the most valuable tool for changing your circumstances.

This is a philosophy he put into practice in his own life: when he joined St John’s College as part of AGOF’s Scholarship programme, he made sure he excelled on the sports field and the cultural arena, and was appointed head boy in his final year. From there, he went on to study actuarial science at the University of Cape Town.

52

This was where the first small seed for Go1 was planted, after Melvyn set up a small investment club with some friends. The club started focusing on small businesses after several members gained employment at large corporates, making for a potential conflict of interest when it came to investing in listed companies. “Speaking to various entrepreneurs, I realized that many faced a common challenge: they couldn’t find the right people for their business.” This was not the time to act on the insight, however. First, Melvyn spent time at Goldman Sachs; then he was appointed the first associate of the Boston Consulting group in sub-Saharan Africa. Again, he was alerted to pitfalls experienced by companies in the area of human capital: “I found that many of our clients, all of which were large multinationals, could have done more to improve their companies by providing better training for their staff. Instead, they had to try fix the problems that arose in the absence of such training.” Simply put, the small players didn’t have the money to get human capital right, but the big players weren’t succeeding here, either.

It was after Melvyn went to Oxford as a Rhodes Scholar to complete a double Masters in public policy, education learning and technology that he took the first step towards establishing Go1. Occupied as he was with questions of how technology can be harnessed to unlock human capital development, it was fortuitous to meet Andrew Barnes, an Australian student who was similarly fascinated by the learning and development space. He also had the technology competencies to complement Melvyn’s experience in the field.

The duo joined Y Combinator, the same incubator to have nurtured Air BnB – “so we were privileged to learn from some of the greats; real legends in the technology space.”

Go21 was launched in 2015, and grew by 20% month on month for two years. After bringing on board some investment capital, and then institutional investors (including Sale Force, the first company to invest in Amazon, and Microsoft), raising a total of 40 million pounds.

53

Melvyn attributes the company’s rapid ascendance to the founders’ mindset, which allowed them to address problems as they were identified. For example, one of the biggest challenges he initially encountered was clients’ perception of Go1 in its earliest iteration as a highly efficient platform – but one hampered by a lack of content.

“The company was like a bookshelf – but no one buys a bookshelf without books”. This made the team realise the need to introduce content to augment the learning management system, prompting them to evolve Go1 into what Melvyn describes as “the world’s largest corporate training marketplace”; a platform not dissimilar to Netflix in that a multitude of resources are available in a single ecosystem. Go1 Premium, as this aggregated marketplace is known, now accounts for 90% of the company’s revenue. Melvyn reports that the company will continue to develop and improve its offering, always seeking to live its aim of helping people fulfil their potential through learning.

At the same time, he is interested in applying his entrepreneurial mindset to solve other problems, again leveraging technology. “My goal is to invest in companies so exciting they keep me up at night, or to invest in businesses I wish I had started,” he says.

His time with AGOF was invaluable not only because it brought to the fore the entrepreneurial flair he was so eager to express and explore, but also because it granted access to a community that remains an important part of his life. In fact, says Melvyn, some of his closest friends today are people he met at the selection camp he attended back n Grade 11. “That speaks to the richness of the connections I’ve made through AGOF,” he says, adding that perhaps the most important part of becoming a member of the Foundation is that he was able to join a community where entrepreneurship is something that’s taken for granted, rather than a rarity.

“When I finished my undergraduate degree, people assumed that if you wanted to start a business, it was because you hadn’t been able to land a job in corporate. People would try to dissuade you from what they saw as a big mistake. Here, entrepreneurship is not a black swan event; it’s the way you look at the world. I wouldn’t have been able to develop my skills without this community.”

54

ENTREPRENEURIALEducation

Entrepreneurial education is a function that deals with the development of the various programmes’ curricula and assessments. A new team was formed in 2019 and tasked with integrating the curriculum and assessment of each programme into the broader programme operating structure. During this time an online learning platform was launched and a research project was conducted by the University of Pretoria. The completion of the Success Profile research project helped the Foundation uncover and understand the developmental trajectories of its Programme Participants. Below are some of the highlights that pertain to how this function has been set up and has evolved.

55

HIGHLIGHTS

—The new Allan Gray Orbis

Foundation online campus was launched and made available to all Scholarship and Fellowship

Programme Participants.

—An entrepreneurship curriculum

was launched, carefully designed to elevate the way

that both entrepreneurial mindset and skillsets

are imparted.

—A mobile app was developed and launched for the online

campus to enable Programme Participants to access the online learning platform on

their mobile devices.

—The first set of online content modules were developed to launch this curriculum and

Programme Participants started to engage with this content. Positive application of the

content in the real world was reported in the feedback.

—The Success Profile, made up of 14 entrepreneurial

competencies, was researched and communicated throughout the Foundation. This will enable

us to measure behavioural shifts against these

competencies through the new selection and assessment tools

we develop in 2020.

—Rubrics and assessments

were developed to accurately track and measure Programme

Participants through a points system.

—AGOF 2019 Annual Report: Curriculum Development 2

—A new Director for

Entrepreneurship Education was appointed in order to align the strategic direction of the curriculum, the content and selection starting from 2020

across functions.

Another aim of filling this position is to see that the current content is elevated to ensure greater impact with regard to foundational strategic objectives and greater combined Afrocentric, and 4IR impact of businesses and initiatives created by Programme Participants. A new Director for Entrepreneurship Education was appointed to align the curriculum and assessment requirements as well as the delivery approach with each Foundation programme’s development approach. In the past this department and role did not exist, which meant that the operationalisation of curriculum and assessment practices were dependent on the programmes reaching out (and vice versa) to the specialists outside of the broader programme team for assistance; this often led to implementation gaps.

56

Elevated entrepreneurship education strategy

Work is being done to elevate the curriculum and content from an online learning platform to strategic Entrepreneurship Education for the entire Foundation. This new strategy aligns the activities of the functions that make up the Foundation’s ecosystem, including the Association, Fellowship, Scholarship, AGEC, Selection and the external ecosystem partners. This will in turn enable the ecosystem to function at an improved level to the benefit of Programme Participants with direct impact on strategic measurables for the Foundation.

A new cohesive strategy sees the focus being shifted to the Programme Participant’s lifelong journey with the Foundation. A journey may include one or more of the following: a for-profit business, a not-for-profit business, a leadership role in an organisation or a community, or a specialist role in society. These can in turn branch in sub-journeys such as industry specific journeys. All journeys incorporate entrepreneurship mindset, skillset and application skills. This is because 21st century skills are the same as entrepreneurship skills.

All content, whether current, new or sourced, is categorised under one of three categories:1. Developmental Mindset2. Developmental Skillset3. Application (currently in the form of IVC – Ideate/Validate/Create).

The goal is for IVC to becoming one branded process for the Programme Participants.

In order to execute the new strategy, co-creation teams have been introduced. These include subject matter experts, content delivery specialists, Programme Participants themselves and foundation team members. These new skills need to be practiced at the foundation, in order to teach these skills. Collaboration and co-creation are important 21st century skills.

The Entrepreneurship Competencies researched by the selection team will be used to measure behavioural shifts at specific points over the course of a Programme Participant’s learning and application journey.

The idea is to develop an “AGOF way” of creating and delivering content so that a standardised level of quality is ensured.

57

The Allan Gray Entrepreneurship Challenge (AGEC) is a gamified experiential learning process aiming to develop entrepreneurial mindsets in secondary school learners, delivered via an online application. The game uses action-oriented micro-challenges as a fun and engaging learning tool – students immediately apply areas of entrepreneurial mindset to real world scenarios, and through repeated application of the concepts, deeply embed the entrepreneurial mindsets that the game seeks to develop. With the primary goal of embedding ownership of the game as well as strategic and operational management of the game into the fabric of the Foundation’s portfolio, the AGEC has retained its lean structure. The long-term goal is to achieve strong performance, strong growth in its user-base and the establishment of strategic partnerships with national and provincial governments. Registration for the AGEC opened on Friday, 2 August 2019, and gameplay commenced as scheduled on Monday, 2 September 2019. The game was played over five weeks and ended on Friday, 4 October 2019. The AGEC was able to reach more learners than it was able to in 2018. Moreover, during this period the challenge was reviewed in order to inform future strategy. Below are some of the highlights of the as well as a summary of the challenge’s reach over time (see Figure 30).

ALLAN GRAY Entrepreneurial Challenge

58

Highlights

� The 2019 AGEC attracted 14 959 learners, which represents an 81% increase from the previous year.

� The number of schools registered this time around was 618.� The total number of teachers who registered in support of the

learners was 1 259 in 2019.� There was unprecedented growth in the challenge’s inclusivity

quotient: a high proportion (27%) of learners from disadvantaged schools featured among the top 11 performers, with the top performer being from the Eastern Cape.

� A provincial MEC of Education promoted the AGEC for the first time in 2019.

� Another first was the written endorsement of the AGEC directly from the Director General of the Department of Basic Education, opening channels of engagement with each of the nine provincial Heads of Department of Education across South Africa.

� This year’s content strategy was robust: 60% of the topics covered in the AGEC were directly aligned to the UN Sustainable Development Goals for South Africa.

� An appetite for actual entrepreneurship was stimulated among learners via the AGEC’s business pitch challenge, which saw the winner receiving investment for an actual startup venture.

FIGURE 30: Number of Schools and Learners participating in the Allan Gray Entrepreneurial Challenge

Learner registrations

* In 2019, there were 1 259 teachers from all 9 provinces involved (unprecedented)** Total number of schools represented by the collective body of learners in the given year

Schools with registrations**

14 959 8 252 4 431 618 628 161

2019 2018 2017

81% Increase

—14 959

LEARNERS ATTRACTED BY AGEC IN 2019

—618

SCHOOLS REGISTERED

—1 259

TEACHERS REGISTERED

—27%

TOP 11 PERFORMERS FROM DISADVANTAGED SCHOOLS

5959

GROWTH GOALS

FOR 2020—

The HoD/MEC of Education in each of the nine provinces will

be engaged

—Host two additional information

sessions by including developing communities in Limpopo and Mpumalanga

—An official Memorandum of

Agreement will be signed with the DG of the DBE to solidify government’s participation in

the outreach and expansionary efforts of the Programme

—Create personalised

gaming experiences for the beneficiaries of the

Scholarship, Fellowship and Association Programmes to

promote inclusivity

—The product development

strategy will retain optimisation of user-experience as a key

focus for maximal retention of learners, year upon year from

2020 onwards

—AGEC Primary will be launched as a pilot Programme in Gauteng province primarily

focusing on the development of an entrepreneurial mindset amongst young learners

(target audience 9–12 years old)

—The project management segment

will witness the Programme leading the development of a fully integrated product to be used for deployment of AGEC in the very long-

term horizon of the game.

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THE FOUNDATION in 2019

Our team

In 2019 the Talent who formed part of the Foundation team numbered 85. Fewer Talent exited the organisation in 2019 compared to previous years. There were 14 new hires and 7 promotions (see Figure 32). The Net Promoter Score for the Foundation as rated by Talent was 46 (which reflects a positive organisational culture).

Talent demographics point to more female than male Talent, and this is consistent across both offices. Moreover, more staff members are located in the Cape Town office than in the Johannesburg office (see Figures 31 and 33).

This is displayed in the accompanying figures below.

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FIGURE 32: Talent composition and movement in 2019

Total promotions

Total new hires

Total exits/resignations

Total Talent 85

6

14

7

FIGURE 33: Distribution of Talent by region and gender

Cape Town

Johannesburg

23

35

10

17

Males Females

FIGURE 31: Gender distribution of Talent in 2019

61%female

39%male

2019 ORGANISATIONAL STRATEGIC INITIATIVES PER FUNCTION

S1 01 S1 02 S1 03 S1 04PROGRAMMES PROGRAMMES FINANCE TALENTBuild Academic GPS Create and Entrepreneurship GPS Implement a continuous

improvementprojectDevelop and implement Talent

Development Framework

S1 05 S1 06 S1 07 S1 08IMPACT ASSURANCE IMPACT ASSURANCE PUBLIC AFFAIRS AND

COMMUNICATIONSIMPACT ASSURANCE

External Evaluation Phase 1 – Data Strategy Create a Digital Strategy Protection of Personal Information Act (POPI) Response

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The racial breakdown of the Foundation is also representative across all race groups, and different levels within the organisation. The table below shows the breakdown of Talent according to job type and race.

TABLE 16: Race distribution of Talent according to job type

Diversity/Occupational Level Black African Coloured Indian White Foreign

National

Top Management (Exco) 4 2 1 0 0Senior Management Directors) 1 1 0 2 0Professionally Qualified, Experienced Specialists, Middle Management 9 9 3 4 0Skilled Technical and Academically Qualified, Junior Management 19 5 0 5 0Semi-skilled and Discretionary Decision Making 13 2 1 0 0Unskilled and Defined Decision Making 3 1 0 0 0

FIGURE 34: Total spend per Programme in 2019

SPEND BY PROGRAMME

69% Fellowship

27% Scholarship

4% Association

FIGURE 35: Spend by programme activity

SPEND BY ACTIVITY

82% Academic

13% Programme

5% Selection

—85

FOUNDATION TALENT TEAM MEMBERS

—14

NEW HIRES

—7

PROMOTIONS

Our investment

The biggest portion of the programme budget in 2019 was dedicated to academic fees, which was consistent with previous years’ reported spend.

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Embracing a world of change

In 1665, Isaac Newton was sent home from Trinity College at Cambridge to take shelter from the advancing plague. During this time, he worked on theories that later developed into calculus, optics and, of course, gravity.

Three and a half centuries later, we can relate to the tension and uncertainty of his time. We’ve also seen similar innovation emerge from our own time of crisis. While the world is grappling with the Coronavirus pandemic and lockdown, a number of new inventions have been launched, certain to change the way we live, from buffs coated with a virus-killing substance to dining pods, from see-through masks to hands-free door handles.

We believe it is only a matter of time until the ingenuity of our own Fellow entrepreneurs result in innovations that take their place beside these game changers. In fact, we have already started to see the contributions of our high impact entrepreneurial leaders as they find opportunities to create value for response efforts and the much-touted “new normal”. As trying as these times are, our programme participants have a natural advantage: the uncertainty that has become a part of daily life is a part of the entrepreneur’s natural condition. Entrepreneurs are accustomed to operating in an environment populated with unknowns; comfortable with taking decisions based on calculated risk and propelled to action while others may hesitate.

CONCLUSION64

AGOF is confident that it has equipped its programme participants with the mindset to meet the need that has arisen from the current global conditions. And while we have been empowering our participants with skills on how to ask questions that uncover and develop opportunities, we have been asking ourselves some important questions too. Guided by our 2020 theme of Achieving Growth in Lean Environments (AGILE), we have reviewed how we work and refined our processes so that we are able to amplify our impact; and enhanced our programmes so that we can be sure that our participants have what they need to leave a lasting legacy in the country.

Our revised way of working includes the introduction of customized entrepreneurial development journeys, ensuring that each participant’s engagement with the programme is both meaningful and relevant.

We are also implementing a digital strategy, a significant step towards achieving digital transformation in order to ensure that we leverage the power of technology for scale, for efficiency and for impact. Remarkable in its depth, the strategy will be phased in as we build on what we have already achieved in this area. Importantly we will work towards integrating technologies to create a seamless, more efficient user experience that is customised to the needs of our programme participants.

“ AGOF IS CONFIDENT THAT IT HAS EQUIPPED ITS PROGRAMME PARTICIPANTS WITH THE MINDSET TO MEET THE NEED THAT HAS ARISEN FROM THE CURRENT GLOBAL CONDITIONS. ”

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Our efforts in this regard are supported by a hard-hitting data strategy which enables us to measure our impact accurately. This entails clarity on why and how data comes in to ensure we are focused on what purpose it will serve. It also means that the decisions we make regarding future strategies and best practice are based on clean, validated data which allows us to predict and forecast future impact – making for the best possible result. How we analyse and disseminate that data is equally important and our POPIA compliance project has resulted in a framework that guides us.

Much attention has been paid to ensuring that we have the systems, tools and intelligence in place to accelerate the drive towards our important mission. However, we have invested much more into our people – from ensuring our Talent are supported and developed, to creating meaningful partnerships within the ecosystem and to staying connected to our community of programme participants.

We believe that this combination will be instrumental in helping us reach our ultimate goal: shaping a pool of responsible, high impact entrepreneurs with a strong spirit of significance – or, as AGOF Fellow and developer of the Phanda app, Mufunwa Mudzanani, puts it, “people who are able to see the solution within the problem”.

This is the mindset that has, and will continue, to distinguish AGOF programme participants. It is also what will see them ignite the entrepreneurial leadership of those around them, setting in place a chain reaction which has the potential to change our country, and even the world.

It has been a pleasure and a privilege to be able to work with so many young dynamic changemakers during the past year. Young people who envision a new and different South Africa and who will find many ways of helping build it. May we continue to see even more of them rising to the challenge and the opportunity – and may we continue to find the best ways to help them as and when they do.

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GLOSSARY4IR Fourth Industrial Revolution

AGEC Allan Gray Entrepreneurial Challenge

AGOF Allan Gray Orbis Foundation

CEO Chief Executive Officer

DFI Development Finance Institute

ELO Entrepreneurship Leadership Officer

Function This term is commonly used in the Allan Gray Orbis Foundation to refer to a specific department.

GBV Gender-based violence

GEI Global Entrepreneurship Indicator

IVC Ideation, Validation and Creation Programme

Ideation: Fellows in the Ideation category have a problem they want to solve or an opportunity they wish to pursue. Typically, the companies are not yet registered, the solution, product or service is not clearly defined, and market research has been predominately desk bound.

Validation: The Validation category is for Fellows who are actively looking for product-market fit. Fellows would be engaging in customer discovery, customer development and or have a prototype or MVP of their product in the market. They could be post revenue, but normally pre-breakeven.

Creation: Businesses in the creation category, have product-market fit to some degree. A clear indication of this is repeat customers and month-on-month growth. The focus on this stage should be on growth, company building and governance. Usually, companies at this stage would be applying to Accelerators or Seed funding.

Scale: At this stage companies are established and have been in business for over 2–3 years. They would be growing quickly and close to either breakeven or profitability. At this stage companies have raised previous rounds of funding and are looking to raise Series A or B funding.

OLP Online Learning Platform

NPS Net Promoter Score. A Net Promoter Score (NPS) is a commonly used metric to gauge customer satisfaction and engagement (Satmetrix, 2017). This helps predict customer behaviour and sentiment towards a service offering or product. It is a score selected by a survey respondent on a scale of 0–10 (1-not likely at all to 10-highly likely/extremely likely). Scores are grouped together into three categories of response types. Those are namely: Promoters (scores of 9 and 10, are highly satisfied and are likely to promote or encourage others to the service/product). Passives (7 and 8, are likely to be swayed by another more compelling offering) and are satisfied but not entirely enthusiastic about the product/service. Lastly, Detractors (respondents that select a score between 0 and 6), are unhappy with a service/product and are likely to damage your brand through word of mouth. Survey scores over 30 are generally considered to be good (Orencia, 2017). Moreover, scores above 50 are regarded as being excellent, and scores about 70 are considered to be world-class.

PC Personal computer

PLPO Personal Leadership Programme Officer

SDO Scholar Development Officer

SSA Sub-Saharan Africa

TEA Total early-stage Entrepreneurial Activity. TEA is defined as the percentage of the 18–64 year-old population who are either entrepreneurs or owner-managers of a new business (GEM, 2018).

ToC Theory of Change

UCT University of Cape Town

UP University of Pretoria

Wits University of the Witwatersrand

YER year-end review

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REFERENCESÁcs, Z. J., Szerb, L., Lafuente, E., & Márkus, G. 2019. Global

Entrepreneurship Index: 2019. The Global Entrepreneurship and Development Institute, Washington, D.C. Available at: DOI: 10.13140/RG.2.2.17692.64641

Aspen Network of Development Entrepreneurs (ANDE). 2017. South Africa’s entrepreneurial ecosystem map. South Africa Chapter, Johannesburg. Available at: https://assets.aspeninstitute.org/content/uploads/files/content/upload/ANDE%20ENTREPRENEUR%20ECOSYSTEM%20MAP%202015.pdf

Global Entrepreneurship and Development Institute (GEDI). 2020. Global Entrepreneurship Index. Washington, DC. Available at: https://thegedi.org/global-entrepreneurship-and-development-index/

Global Entrepreneurship Monitor (GEM). 2018. Global Entrepreneurship Monitor: Global Report 2017/2018. Available at: https://www.gemconsortium.org/report/gem-2017-2018-global-report

Global Entrepreneurship Monitor (GEM). 2019. Entrepreneurial Behaviour and Attitudes: South Africa profile. Available at: https://www.gemconsortium.org/economy-profiles/south-africa

Knoema. 2019. World Rankings: South Africa Global Entrepreneurship Index. Available at: https://knoema.com/atlas/South-Africa/topics/World-Rankings/World-Rankings/Global-entrepreneurship-index

SAB Foundation and Allan Gray Orbis Foundation (SABF & AGOF). 2017. The Entrepreneurial Ecosystem of South Africa: A Strategy for Global Leadership 2017. Available at: https://sabcms.blob.core.windows.net/wp-content/2017/03/GEDI-South-Africa-Analysis2.pdf

Statistics South Africa. 2019. Quarterly Labour Force Survey, Quarter 4: 2019. Statistical Release PO211. Pretoria: Statistics South Africa. Available at: http://www.statssa.gov.za/publications/P0211/P02114thQuarter2019.pdf

Valerio, A., Parton, B., & Robb, A. 2014. Entrepreneurship Education and Training Programs Around the World: Dimensions for Success. Washington, DC: World Bank. Available at: http://dx.doi.org/10.1596/978-1-4648-0202-7

World Bank. 2020. Doing Business 2020 Economy Profile: South Africa. Available at: https://www.doingbusiness.org/content/dam/doingBusiness/country/s/south-africa/ZAF.pdf

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ALLAN GRAY ORBIS FOUNDATION2019 REPORT

2019 Report INSIGHT‚ INNOVATION & INTENTION FOR IMPACT

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