By: Lonwabo Mtyeku | Pictures: Supplied
Seen Here: Naledzani Mosomane_Head of Enterprise and Supplier Development_Business and Commercial Banking at Standard Bank South Africa. Photo Credit: Supplied.
Johannesburg – South Africa’s push to strengthen domestic industries and accelerate small business growth has received a major boost after Standard Bank confirmed its role as headline sponsor of the Buy Local Summit & Expo 2026.
The partnership with Proudly South African underscores the bank’s strategic commitment to localisation, enterprise development and the empowerment of small and medium enterprises (SMEs) — a sector widely regarded as the backbone of the South African economy.
At a time when South Africa is navigating shifting global markets and domestic economic reforms, the summit is expected to play a pivotal role in strengthening local value chains, promoting procurement from South African suppliers and unlocking new opportunities for emerging businesses.
SMEs at the Heart of Economic Growth
Across the country, SMEs continue to drive innovation, create employment opportunities and stimulate inclusive economic participation. However, access to markets, finance and supply-chain integration remains a persistent challenge for many entrepreneurs.
According to Naledzani Mosomane, Head of Enterprise and Supplier Development at Business & Commercial Banking at Standard Bank South Africa, strengthening local procurement is key to building a resilient economy.
“As a trusted partner for growth for many SMEs, Standard Bank recognises that these businesses are amongst those that continue to carry the South African economy,” Mosomane said.
“Localisation and the increased use of South African suppliers help strengthen these businesses and ensure that more value is retained within the domestic economy.”
Mosomane added that the bank’s Enterprise and Supplier Development initiatives are designed to support entrepreneurs at every stage of their journey — whether they are launching a new venture, managing existing operations or scaling a growing enterprise.
Seen Here: Eustace Mashimbye, Chief Executive Officer of Proudly South African. Photo Credit: Supplied.
A Platform for Local Economic Transformation
Hosted annually by Proudly South African, the Buy Local Summit & Expo has grown into one of the country’s most influential platforms dedicated to promoting locally produced goods and services.
The two-day gathering brings together business leaders, policymakers, entrepreneurs and procurement specialists to explore strategies that can strengthen domestic production and increase the participation of South African businesses in supply chains.
This year’s summit arrives at a particularly significant moment for the country’s economy. President Cyril Ramaphosa recently indicated that South Africa may be on the brink of a new growth phase after several quarters of steady improvement in gross domestic product.
Against this backdrop, the 2026 summit will centre on the theme “Localisation: A Critical Imperative to the Economy,” highlighting the role of domestic manufacturing, procurement and supply-chain development in sustaining long-term economic momentum.
Collaboration to Strengthen Local Value Chains
For Eustace Mashimbye, Chief Executive Officer of Proudly South African, partnerships with institutions such as Standard Bank are essential in driving meaningful economic transformation.
“The Buy Local Summit & Expo continues to evolve as a space where thought leaders, entrepreneurs and policymakers can discuss and debate the future of South Africa’s productive sectors,” Mashimbye said.
“We are pleased to have Standard Bank on board as a headline sponsor and appreciate the value that forward-thinking partners bring to initiatives that promote local capabilities, enhance participation in value chains and enable South African businesses to compete globally.”
Practical Support for Entrepreneurs
Beyond networking opportunities, the summit is structured to deliver practical value for SMEs. Attendees will participate in workshops, masterclasses and expert-led panel discussions focused on key challenges facing growing businesses.
These sessions will cover topics such as access to finance, scaling operations sustainably, navigating procurement systems and harnessing innovation to remain competitive in rapidly changing markets.
The event will also provide entrepreneurs with direct access to potential buyers and procurement officers, creating pathways for small businesses to secure supply agreements and expand their commercial footprint.
Driving a Local-First Economy
Industry analysts say localisation initiatives such as the Buy Local Summit & Expo are increasingly important in strengthening domestic supply chains and ensuring that economic value circulates within South Africa’s borders.
By supporting platforms that promote local production, build procurement opportunities and strengthen SME capabilities, stakeholders aim to position South African businesses as the driving force behind the country’s long-term economic resilience.
Mosomane believes the collaboration between the banking sector, government and industry bodies is essential to achieving this goal.
“More than just an annual gathering, platforms like the Buy Local Summit & Expo act as catalysts for transformation,” she said. “By promoting localisation, strengthening supply chains and creating new market opportunities, we can empower SMEs to grow and ensure they remain central to South Africa’s economic future.”
With growing interest from entrepreneurs, policymakers and corporate buyers alike, the 2026 edition of the Buy Local Summit & Expo is expected to reinforce its status as one of South Africa’s most influential business platforms championing the power of buying local.
