From township dreams to national stages: How winning PSG’s Think Big SA competition changed Teboho Nthoana’s trajectory

When PhD candidate and township entrepreneur Teboho Nthoana submitted his paper for PSG and ERSA’s inaugural Think Big SA competition last year, he could never have imagined the profound impact this would have on his journey to champion the growth of township economies.

“Opportunities like this don’t often reach people like me,” Nthoana reflects. “A lot of the time, competitions like this are closed off to people who aren’t in academia. Winning gave me the opportunity to speak on proper economic platforms and highlight real township issues.”

His winning paper, titled ‘Inclusive Economic Growth – Building Sustainable Township Economies’, earned him the R300 000 grand prize in October 2024. Since then, Nthoana’s research has reached far beyond academic circles. He has been invited to speak at a wide array of platforms, including the City of Ekurhuleni Investment Conference, Nedbank’s township-economy roadshow, and the Entrepreneurship Global Summit.

With funds from the prize, he invested in his PhD at North West University as well as his township-based business. “It’s been such a blessing. I can never take it for granted to have this opportunity,” he says. “People from across the country, students and entrepreneurs, have reached out to me to say the paper gave them hope and inspiration.”

At the heart of his research is a fundamental insight into the township economy. Speaking at a PSG Think Big seminar, Nthoana highlighted just how underestimated this market is. “When you realise the township economy is worth R400 billion and contributes nearly 30% to South Africa’s GDP, it changes your perspective,” says Nthoana. “There is massive, untapped potential here. If we understand it properly, we can unlock real economic power where it’s needed most.”

He proposes the creation of township-specific financial vehicles to open the floodgates of potential. “One of the key things is building micro-investment ecosystems tailored for township entrepreneurs,” says Nthoana. “Things like crowdfunding, peer-to-peer lending, and venture capital. If we start there, we can create real economic inclusion.”

Nthoana also emphasises the need to challenge perceptions about township entrepreneurship.
“It seems if you are a township entrepreneur you are really unemployed and doing nothing. Even record-keeping for some of the transactions leave room for township entrepreneurs to be disadvantaged. If we just formalise it, we can set ourselves up for great success.”

His achievements have reached far beyond the competition, earning him invitations to prestigious programmes like the Ford Foundation accelerator and a leadership initiative at the London School of Economics. And his drive shows no sign of slowing: “I plan to defend my title, write more, and I’m really excited to see what new ideas emerge this year,” he says.

Now, PSG and ERSA are once again calling upon all South Africans. From students and academics to entrepreneurs and early career professionals, it's time to take their shot in the 2025 Think Big SA Competition. This year’s theme, “How Capital Markets Enhance Economic Performance and Facilitate Job Creation”, encourages visionary proposals that forge new inclusive economic pathways.

With the first prize increased to R500 000 and additional prize money of another R500 000, the opportunity is larger and more diverse than ever. “Think Big changes lives,” says Nthoana. “If you believe you have an idea that can change South Africa for the better, this is your moment.”

Entries for the 2025 competition close on 30 August 2025. For full entry requirements and details, visit www.psg.co.za/think-big-south-africa.