THE 7th annual Blue-Ribbon Soweto Kota Festival will celebrate South African 30 years of Freedom and Democracy.
It has been pencilled for September 07, 2024 at the new venue- Fun Valley Pleasure Resort in Olifantsvlei, just off the Golden Highway.
It will be backed by Nedbank, who saw the opportunity to provide state-of-the-art Point of Sale (POS) devices to selected vendors, with the aim of fuelling sales, and enabling seamless business operations.
This initiative is part of Nedbank’s broader strategy to support small and medium-sized enterprises (SMEs).
“Considering that 1% of informal retailers in South Africa accept electronic payments, and 56% do not have access to a bank account, equating to massive volumes of cash usage, we are thrilled that the small businesses that will be trading at the festival will be able to maximise their sales and optimise on revenue generation due to their broader range of payments they can accept,” says Monique Chinnah, Senior Manager of Segment Design and Development at Nedbank.
“By equipping vendors with POS devices, we are not only enabling them adapt to digital payment methods but also reinforcing our dedication to empowering local businesses and driving economic development.”
Kota Festival vendors were also invited to attend the SimplyBiz Powershot Café, hosted by Nedbank’s free business development platform to equip them to drive sustainable business practices and recurring sales.
Chinnah elaborates that the benefits of POS machines are far reaching as they will “allow traders to accept card payments from any of the associations, expanding their customer base beyond cash transactions thereby increasing sales. They will also reduce the risks associated with handling large amounts of cash and increase transaction security.
With a quick digital onboarding process, and access to clear transaction records via the Money app, traders will be able to manage their finances more effectively, facilitating the formalisation of the business and enabling the tracking of their cashflow over time”, she says.
Additionally, all POS devices are linked to a Nedbank business account, separating their personal and business spending – and, importantly, allowing immediate settlement of their POS funds into their bank account.
Nedbank offers new merchants 100% cash back off their device fee should they meet a minimum usage threshold.
Expect over 60 kota outlets from all over Gauteng that will be on offer and entertainment on the day, from music to jumping castles for kiddies and more.
Ticket cost R100 for adults and R50 for Kids between 4 years and 13 years old.
Kids under 4 years enter Mahala.Gratis!
It begins from 10am until 10pm.
