{"id":235373,"date":"2022-08-26T19:56:41","date_gmt":"2022-08-26T17:56:41","guid":{"rendered":"https:\/\/mypr.co.za\/?p=120489"},"modified":"2022-08-26T19:56:41","modified_gmt":"2022-08-26T17:56:41","slug":"sasfins-andile-hote-entrepreneurs-success-depends-on-an-entrepreneurial-banking-approach","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/sasfins-andile-hote-entrepreneurs-success-depends-on-an-entrepreneurial-banking-approach\/","title":{"rendered":"Sasfin\u2019s Andile Hote: Entrepreneurs\u2019 success depends on an entrepreneurial banking approach"},"content":{"rendered":"<aside class=\"scaip scaip-1 \">\n<aside id=\"republication_tracker_tool-2\" class=\"republication_tracker_tool clearfix\">\n<h5 class=\"adtitle\">Republish for Free<\/h5>\n<div class=\"license\">\n<p><button name=\"Republish This Story\" id=\"cc-btn\" class=\"republication-tracker-tool-button\">Republish This Story<\/button><\/p>\n<p><a class=\"license\" rel=\"noreferrer license noopener\" target=\"_blank\" href=\"http:\/\/creativecommons.org\/licenses\/by-nd\/4.0\/\"><img decoding=\"async\" alt=\"Creative Commons License\" class=\"lazyload\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/08\/sasfins-andile-hote-entrepreneurs-success-depends-on-an-entrepreneurial-banking-approach.png\"><\/a><\/p>\n<p><img decoding=\"async\" alt=\"Creative Commons License\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/08\/sasfins-andile-hote-entrepreneurs-success-depends-on-an-entrepreneurial-banking-approach.png\"><\/div>\n<div class=\"message\">\n<p>Republish our articles for free, online or in print, under a Creative Commons license.<\/p>\n<\/div>\n<\/aside>\n<\/aside>\n<p dir=\"ltr\">South Africans\u2019 famed resilience has truly been put to the test over the last two years, between COVID-19, electricity shortages, unrest, increase in fuel prices, interest rate hikes and climate disasters. The country has been through so much \u2013 but its entrepreneurs are simply not giving up, seeking opportunity in adversity to become the drivers of economic opportunity and job creation.<\/p>\n<p dir=\"ltr\">The banking sector is seeing increased interactions and deal flows that clearly point towards a recovery, with rebounding businesses once again looking to scale. However, looking at their performance on \u2018paper\u2019 \u2013 impacted by the pandemic roller coaster and other incidents \u2013 may make large financial institutions with little appetite for risk cautious to engage.<\/p>\n<p dir=\"ltr\">There\u2019s a massive opportunity for a bank with an adjusted risk appetite to develop creative funding structures for sectors that are responding directly to economic and sociopolitical events. For example, there are multiple investment opportunities emerging as a result of the country\u2019s current energy crisis, with off-grid renewable energy solutions mushrooming in the metaphorical \u2013 and literal \u2013 darkness.<\/p>\n<p dir=\"ltr\">\u201cRebounding businesses need committed and creative investment and funding partners, rather than being forced to limit their vision for growth by financial institutions with fixed mindsets,\u201d says Andile Hote, Head of Commercial Banking at Sasfin. \u201cHelping entrepreneurs to realise their dreams at each new starting point in their journey, knowing that there\u2019s a bigger picture at play, is about so much more than being their banking partner \u2013 it\u2019s about the whole ecosystem and its potential to facilitate positive impact on society.\u201d<\/p>\n<p dir=\"ltr\">It\u2019s the notion of new starting points that has driven Hote since he was a young boy in boarding school, where he was inspired to change the narrative of what it meant to grow up in an Eastern Cape township and be a role model for the children around him.<\/p>\n<p dir=\"ltr\">\u201cI believe if you want anything badly enough, that nothing is impossible \u2013 you find a way to make it happen,\u201d he says. \u201cThat\u2019s true in various different parts of life \u2013 but it\u2019s particularly true in business and in banking, and I bring this philosophy to every deal that we work on at Sasfin.<\/p>\n<p dir=\"ltr\">\u201cEvery person in business \u2013 whether it\u2019s my colleagues in the bank or the clients that we deal with \u2013 has the potential to make a bigger impact in what we wake up to every day. Playing a part in supporting entrepreneurs\u2019 dreams, in nurturing their genius, is our mark of success.\u201d<\/p>\n<p dir=\"ltr\">Intent on growing businesses seeking investment of a deal size of R30 million to R100 million, Hote believes that there is a void left by bigger banks for finance opportunities that seek a forward-looking approach and creative funding structures, with a single point of contact who has a true interest in the client\u2019s success.<\/p>\n<p dir=\"ltr\">\u201cEvery deal needs to be evaluated on its own merits \u2013 just as South Africa is so diverse, so are its entrepreneurs in their ideas, approaches, and visions for future success,\u201d Hote says. \u201cThat\u2019s why they need a commercial finance partner that also has an entrepreneurial approach, that is small enough to remember what it\u2019s like to be a family business, but experienced enough to be able to find creative ways of solving challenges and creating solutions.\u201d<\/p>\n<p dir=\"ltr\">This approach to commercial relationships also lends itself to personalisation, with banks financing deals in the R30 million to R100 million bracket able to take the time to understand the essence of the businesses they\u2019re working with \u2013 while in the case of Sasfin, still offering a differentiated skillset that\u2019s synonymous with investment and corporate banking, corporate finance, and a single point of contact.<\/p>\n<p dir=\"ltr\">\u201cWorking with entrepreneurs at their ongoing starting points along their business journeys needs a solutions-based mindset, that\u2019s more about how we can make the deal work by deeply evaluating the risk profile, rather than walking away from the deal because it doesn\u2019t fit into a tick box list,\u201d Hote says.<\/p>\n<p dir=\"ltr\">Having started his career in banking as a teller armed with a degree in economics and mathematical statistics, Hote has walked a long journey from rural Eastern Cape, working in the country\u2019s leading financial institutions. His enthusiasm and optimism has led his collaborations along that journey, with a determination to always go beyond the deal to identify real opportunity and value.<\/p>\n<p dir=\"ltr\">\u201cKnowing that my work supports entrepreneurs, the South African economy, and job creation leads my approach to every deal we do at Sasfin,\u201d he says. I come from those values \u2013 I know what they mean to our clients.\u201d<\/p>\n<figure id=\"attachment_120490\" aria-describedby=\"caption-attachment-120490\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/mypr.co.za\/?attachment_id=120490\"><img loading=\"lazy\" decoding=\"async\" alt width=\"1250\" height=\"833\" class=\"wp-image-120490 size-large lazyload\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/08\/sasfins-andile-hote-entrepreneurs-success-depends-on-an-entrepreneurial-banking-approach.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-120490 size-large\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/08\/sasfins-andile-hote-entrepreneurs-success-depends-on-an-entrepreneurial-banking-approach.jpg\" alt width=\"1250\" height=\"833\"><\/a><figcaption id=\"caption-attachment-120490\" class=\"wp-caption-text\">Andile Hote.<\/figcaption><\/figure>\n<p><strong>Video:<\/strong> Sasfin\u2019s Andile Hote: Entrepreneurs\u2019 success depends on an entrepreneurial banking approach<\/p>\n<p><strong>More Info on Sasfin\u2019s Andile Hote: Entrepreneurs\u2019 success depends on an entrepreneurial banking approach here:<\/strong> <a href=\"https:\/\/www.sasfin.com\/\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/www.sasfin.com\/<\/a><br \/><strong>Twitter<\/strong>: <a href=\"https:\/\/twitter.com\/MediawebSA\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/twitter.com\/MediawebSA<\/a><br \/><strong>Facebook<\/strong>: <a href=\"https:\/\/www.facebook.com\/MySociaLifeSA\/\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/www.facebook.com\/MySociaLifeSA\/<\/a><\/p>\n<p><a href=\"http:\/\/mypr.co.za\/save-with-myprs-monthly-flat-fee\/\">CLICK HERE to submit your press release to MyPR.co.za<\/a>.<\/p>\n<p> <span class=\"post-views-icon dashicons dashicons-chart-bar\"><\/span> <span class=\"post-views-label\">Press Release Views since 1 July 2022:<\/span> <span class=\"post-views-count\">79<\/span> <\/p>\n<div class=\"entry-pagination pagination\">Pages: <span class=\"post-page-numbers current\"><span class=\"screen-reader-text\">Page <\/span>1<\/span> <a href=\"https:\/\/mypr.co.za\/sasfins-andile-hote-entrepreneurs-success-depends-on-an-entrepreneurial-banking-approach\/2\/\" class=\"post-page-numbers\"><span class=\"screen-reader-text\">Page <\/span>2<\/a><\/div>\n<p><a href=\"https:\/\/mypr.co.za\">Source: MyPR.co.za<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Republish for Free Republish This Story Republish our articles for free, online or in print, under a Creative Commons license. South Africans\u2019 famed resilience has truly been put to the test over the last two years, between COVID-19, electricity shortages, unrest, increase in fuel prices, interest rate hikes and climate disasters. The country has been [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":235374,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3331,18,3332,9021,3336,1],"tags":[3257],"class_list":{"0":"post-235373","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cape-town","8":"category-durban","9":"category-johannesburg-south-africa","10":"category-mypr","11":"category-pretoria-south-africa","12":"category-south-africa","13":"tag-mypr","14":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/08\/sasfins-andile-hote-entrepreneurs-success-depends-on-an-entrepreneurial-banking-approach.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/235373","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=235373"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/235373\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media\/235374"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=235373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=235373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=235373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}