The Free Market Foundation (FMF) on Wednesday presented its sixth Luminary Award for individuals that inspire others in a particular sphere of life to South African entrepreneur Dr Richard Maponya.

The award was given to Maponya in recognition of his “outstanding entrepreneurial achievement and leadership as a self-made [businessperson] under the almost impossible conditions of apartheid and being a beacon of hope for aspiring young South African entrepreneurs,” the FMF said.

When accepting the award, Maponya said entrepreneurship created new business, turned poorly performing companies around and fuelled growth and job creation.

He reiterated that entrepreneurship was an efficient tool that South Africa could use to address poverty; however, currently, many of the unemployed youth that aspired to get into business for themselves were being frustrated by the rules and regulations that deny them the opportunity to start their own businesses.

“When I look at the opportunities that are within this country, I always wonder why we cannot open the way and unleash the power of young people to get into business.

“If the government could make it easier for our young entrepreneurs to get into business, this country would change overnight, because entrepreneurship is something that will enable us to address poverty,” Maponya said.

He added that if aspirant South African entrepreneurs were to succeed, government had to change its laws.

Maponya also said he would like to see government support young black entrepreneurs through the establishment of a finance institution; however, he did warn against simply giving money to people who had not shown initiative before receiving the funds.

“The [culture of] entitlement we see today [among the youth] is unwelcome. Government should support someone who is using his or her own initiative, who is a self-starter,” he stated.

Maponya further said, currently, government and business had a dysfunctional relationship of mutual distrust, stating that, for entrepreneurship to be successful in the country, business, government and trade unions had to “join hands” and work together.

Maponya ventured into business by setting up small grocery shops in Soweto. He also set up bus services, motor dealerships, a BMW franchise and petrol stations.

His biggest project to date was the joint venture with property group Zenprop in the construction of the Maponya Mall, in Soweto, that was opened in 2007.