The Transformation Legacy - Media #women

Financial wellness is the foundation of sustainable business growth.

Fri, 25 Sep 2026 20:12:10 +0200

From Financial Wellness to Sustainable Growth: The Transformation Legacy and Coface South Africa Empower Entrepreneurs Through Financial Literacy and Risk Management

In today's challenging economic environment, entrepreneurs are expected to navigate far more than sales, operations, and customer service. They are increasingly required to become financially resilient leaders who can manage cash flow, access funding, build wealth, and protect their businesses against unforeseen risks.

Recognising this need, The Transformation Legacy partnered with Coface South Africa to host the Financial Wellness & Wealth Creation Masterclass on 21 August 2026 at the Old Mutual offices in Sandton. Old Mutual and Business Partners also came on board as key partners. Together, they contributed to empowering entrepreneurs through personal financial management and Business Funding Readiness training. The event brought together women entrepreneurs for a day focused on financial empowerment, business sustainability, funding readiness, and long-term wealth creation.

While financial literacy is often associated with budgeting and saving, the reality is that financial wellness extends far beyond personal money management. It encompasses the decisions business owners make every day regarding growth, risk, investment, debt management, and cash flow protection.

As the anchor sponsor of the Masterclass, Coface South Africa's participation reflected its ongoing commitment to supporting the sustainability and success of South African businesses. One of the most powerful insights shared during the Masterclass was a simple but often overlooked reality:

"A sale is not complete until the money is in your bank account."

Many businesses focus heavily on generating revenue but pay less attention to protecting the cash flow that keeps their operations running. Entrepreneurs may successfully deliver products and services, issue invoices, and record sales, yet remain vulnerable to late payments or customer defaults.

According to Coface South Africa, every credit sale is also a financial decision because businesses effectively finance their customers whenever payment terms are extended. Unpaid invoices can impact an organisation's ability to pay employees, meet supplier commitments, fulfil tax obligations, and pursue growth opportunities.

For SMEs, particularly those operating with limited reserves, one significant bad debt can have a ripple effect throughout the business.

Building Financially Resilient Businesses

The Masterclass was designed to help entrepreneurs move beyond simply earning income and towards building financially resilient businesses that can withstand economic shocks. Throughout the day, participants explored key topics including:

Financial wellness and money mindset

Personal financial planning
Wealth creation strategies
Estate planning
Retirement planning
Business funding readiness
Trade credit insurance
Business sustainability and cash flow management

The session encouraged entrepreneurs to view financial success holistically by connecting personal financial wellness with business performance and long-term wealth creation.

Financial Wellness and Funding Readiness Go Hand in Hand

A valuable theme that emerged during the Masterclass was the strong connection between financial wellness and access to funding. Many entrepreneurs seek funding as a solution to business challenges. However, financiers are increasingly evaluating far more than turnover figures. Lenders want to see evidence of strong financial management practices, predictable cash flows, effective risk controls, and disciplined business systems.

Businesses that understand their numbers, manage receivables effectively, maintain accurate financial records, and protect their cash flow are often better positioned to access funding and attract investment.

This aligns closely with Coface South Africa's broader mission of helping businesses trade with confidence while managing credit risk responsibly.

Why Trade Credit Insurance Matters

One of the key discussions during the event focused on the role of Trade Credit Insurance as a strategic business tool rather than simply an insurance product. Trade Credit Insurance helps businesses manage customer credit risk, monitor debtor exposures, support collection activities, and protect insured receivables against covered non-payment events. For growing SMEs, this protection can prove invaluable.

When business owners understand who owes them money, how concentrated their customer base is, and how potential defaults could affect their operations, they are better equipped to make informed decisions that support sustainable growth.

In an environment where cash flow remains one of the leading causes of business distress, proactive risk management becomes an important contributor to long-term financial wellness.

Empowering Entrepreneurs Beyond Finance

Beyond the practical financial lessons, the Masterclass created a platform for learning, networking, collaboration, and entrepreneurial growth. Participants left with practical tools, actionable insights, and personal commitments aimed at strengthening both their businesses and their personal financial wellbeing.

Importantly, the discussions reinforced that wealth creation is not only about generating income. True wealth is built through intentional financial habits, strategic planning, risk management, asset building, and the ability to transfer value across generations.

Investing in Entrepreneurial Success

The Financial Wellness & Wealth Creation Masterclass demonstrated the power of collaboration between organisations committed to advancing entrepreneurship and economic growth in South Africa.

By supporting initiatives that promote financial literacy, funding readiness, business sustainability, and risk management,The Transformation Legacy and Coface South Africa continue to play an important role in helping SMEs build stronger businesses and brighter futures.

As South Africa's entrepreneurial ecosystem continues to evolve, partnerships that equip business owners with the knowledge, tools, and confidence to navigate complexity will become increasingly important. Because sustainable businesses do more than generate revenue.

They create jobs, build communities, preserve wealth, and contribute to lasting economic impact.

She Means Business: The Strength, Struggle and Spirit of Women Entrepreneurs

Wed, 08 Oct 2025 13:43:57 +0200

Exploring the realities, resilience, and remarkable contributions of women who continue to redefine success in male-dominated industries.

Every year in August we celebrate women and acknowledge the importance of the contribution they make within our society. Although the contribution of women is recognised and widely celebrated, it is concerning to witness how greatly marginalized women are in the business environment. I often ask myself; how is it that many years of educating women and efforts that have been made in integrating women in the business environment, we still have only 34% of businesses in South Africa owned by women entrepreneurs (this according to a survey conducted by Facebook in partnership with the World Bank and OECD)?.

There is so much that women entrepreneurs bring to the business environment that is valuable and can benefit society as a whole. However, we still face challenges as we are not always taken seriously, particularly in industries that are male dominated.

So why do so many women battle to gain ground and grow in male-dominated industries?

Businesses are built on having strong networks and when women enter a male-dominated industry, they generally find that the men in that industry have formed strong relationships and networks and it is hard to break into those already established networks especially when one is new to the market.

It is necessary for one to have the right contacts in order to navigate the requirements of an industry; so when a woman enters into an industry they could find it hard to infiltrate those established networks that may be key to the progress of their business.

I believe one of biggest problems is us, because of our preconditioning when we start businesses, we automatically place barriers for ourselves by making assumptions that it will be difficult for us to grow within those industries. When we do this, it holds us back from operating at our full potential.

These are just some of the aspects that women have to deal with when operating in industries that are male dominated. However, there are characteristics that truly set us about from men and these character traits need to be embraced for us to show up authentically and to operate in our areas of excellence.

Characteristics of women entrepreneurs:

Having worked with many women throughout my career as an entrepreneur development consultant and business mentor. I have noticed very similar traits that most women entrepreneurs possess and some aspects of business that they do differently from other male business owners that I’ve interacted with.

Firstly, the nurturing nature of women plays a big role in how they do business. Women are generally nurturing; therefore, this results in them caring about more than just financial growth and profitability. The majority want to grow their businesses beyond themselves and see others grow along-side them. This could be their staff members, suppliers or even other small businesses around them. Through women entrepreneurs we can achieve greater impact on society as a whole.

Secondly, the unique ability to multitask is a trait that many women possess. We see many successful women being able to juggle building their business, raising children, building a family and still playing an active part in their communities. This makes women exceptional entrepreneurs because they do not focus on just one role, they are able to manage the responsibilities of all their roles. During the COVID-19 pandemic, we saw a lot of women in business having to work from home, looking after their families while still getting their businesses to stay afloat during this difficult period. I myself had a funny encounter that I would never forget during that time, my 3-year-old son was hanging on my back while I was frantically trying to complete a report; my husband walked in the room and couldn’t understand how I could continue working unbothered whilst my son was on my back. I turned to him and said ‘’we as women find it very easy to multitask’’. This incident was a reminder for me of how women have been able to run their households, raise children while still building their businesses; this is an incredible superpower that should not be understated.

Thirdly women are resilient, despite the prejudice, barriers and challenges faced in the business and sometimes personal environment there is still a desire to grow, learn and help others around them to do the same. This resilience is not necessarily unique to women only; however, it is a trait that keeps many women going despite the inherent challenges of being a woman in business.

Although there are positive traits of women in entrepreneurship, this is sometimes accompanied by weaknesses that are not helpful to the growth of women in business. There are similar characteristics that hold back many women from achieving their full potential in business.

Firstly, is the imposter syndrome; this is defined by the Harvard Business Review, 2008 as the collection of feelings of inadequacy that persist despite evident success. It is thoughts and feelings of doubt in one’s capability and being afraid that others will question and doubt your capabilities. This is prominent in the many women entrepreneurs that I’ve met and worked with. If you are struggling with this, I suggest you practice the following:

Learn to separate facts and your feeling. Feelings can be highly deceiving and if you had to act on what you are feeling you will struggle to achieve your goals.

Start by reviewing your thoughts and what you are doubting about yourself, ask yourself whether it is indeed a fact or whether it is a feeling generated by your fear. Once you have answered yourself, move to another thought until you eliminate all self-doubting thoughts. Through this exercise you will realize that the majority of your thoughts are not factual and that indeed you are capable.

Secondly, women entrepreneurs tend to be extremely modest even in situations that do not require it. Its important to be comfortable with sharing your achievements, your strengths and openly talk about what makes you great at what you do. This will enhance the possibility of gaining presence within your market.

Thirdly, I see a lot of confident women struggle to display this confidence when they are in certain environments in business. At times, women hold back from sharing their views and insights in spaces where they feel dominated. We must learn to be confident in ourselves, what we know and what we bring to the table without doubting our abilities. This can be achieved if we stop comparing ourselves with our fellow male entrepreneurs and we focus on our unique strengths, traits, and overall contributions. Being confident is not about having everything figured out or even knowing everything about the business you are in; its about focusing on your unique contribution and being confident in that.

For us to overcome challenges as women entrepreneurs, we should take into consideration the following:

Women need to harness their femininity and appreciate the uniqueness they bring to the business world. In some cases, women try to act like men in order to make their presence felt and stand their ground. This is not necessary; the most effective way of claiming one’s presence is by ensuring you are yourself by finding ways of making your presence felt in your own unique way that is in line with your character.

We do not need to spend our time trying to prove ourselves, we should rather spend time doing what we are good at and building our businesses’ competitive advantage. That way our work can speak for itself.
Focus on you, your business and ensuring that your clients see the value you can deliver to them instead of focusing on the unconscious bias that mayexist in your industry. Our gender does not dictate what our businesses can achieve, and it certainly does not contribute to the value that we can create for ours clients.
Find successful entrepreneurs in your industry who are willing to share advice and offer guidance, that way they can also help navigate some of the challenges and you can learn from the mistakes they might have made in the past.
We need to have the confidence and the courage to navigate any challenges that could potentially come our way and always be open to learning.

Women entrepreneurs possess extraordinary traits that not only contribute to their success in business but extends to the nurturing of others around them.

It is therefore crucial that as women in business, we appreciate our unique contribution to the world of business by fully embracing who we are.

The month of August should be used for us to reflect on how far we have come, celebrate each other and to look forward to making an even bigger difference to the world of business.