Financial services firm Standard Bank has announced that the 2025 Kasi SME Pitch Challenge is, for the first time, open to township entrepreneurs across all nine South African provinces to pitch for a share of R60 000 in provincial prize money.

Applications for the provincial leg will close on May 6.

The top two township entrepreneurs from each province will advance to the national finals later in the year and will compete for a bigger monetary prize, greater exposure and growth opportunities for their businesses.

Township businesses will have the opportunity to showcase their businesses, sharpen their pitching skills and unlock new growth opportunities. The Kasi SME Pitch Challenge is an established feature of the Standard Bank Kasi SME Summit, the bank says.

In each province, 15 entrepreneurs will be shortlisted and invited to pitch their businesses to a panel of judges. From these, the top three winners will be selected, with R30 000 awarded to the first-place winner, R20 000 to the second-place winner and R10 000 to the third-place winner.

The top two winners in each province will gain access to a detailed pitching masterclass designed to sharpen their business models, storytelling abilities and presentation skills.

These finalists will prepare to compete against winners from the other provinces at the national finals later this year for a share of R500 000 in prize money.

“Now in its third year, the Standard Bank Kasi SME Summit consistently empowers entrepreneurs with practical tools, expert insights and access to growth opportunities. The summit is a platform for economic development within South Africa’s townships,” says Standard Bank South Africa Business and Commercial Banking head of enterprise development Naledzani Mosomane.

By expanding the pitch challenge nationally, Standard Bank deepens its impact on South Africa’s township economies, helping even more local businesses navigate typical business challenges, constraints to market access, and build sustainable enterprises, she adds.

“For years, township entrepreneurs have been an unstoppable force for economic growth and social change. With the Summit and Challenge, we are investing in the great potential of the businesses operating in South Africa’s township economies by equipping them not just with funding, but most importantly the knowledge and national exposure to help them turn possibilities into solid business opportunities.”

Eligible township entrepreneurs must be black South African citizens and be formally registered with the Companies and Intellectual Property Commission or trading as sole proprietors.

Applicants must be operating businesses that are at least 51% black-owned, with valid broad-based black economic empowerment accreditation. Their business must generate yearly revenue between R0 and R5-million, and have been operating for at least 12 months, with a business profile and proof of ID.

Applicants may not be a nonprofit or nongovernmental organisation, cooperative, joint venture and/or a Standard Bank employee.