South African entrepreneur, Sibusiso “Skinny Sbu” Ngwenya has come out saying his business is in need of a R5 million cash injection to take it to the next level.
The 27-year-old entrepreneur, who is the founder of premium sock brand Skinny Sbu Socks spoke to SABC about his frustrations during a live interview on Wednesday afternoon.
He says, during an interview on SA Today, that he does not need business advice, but needs money to grow his business.
When given advice by a business advisor during the interview, Ngwenya interjected and rejected the advice, saying he won’t allow the advisor to criticise him.
“Gents, can I say this. I cannot sit here and be criticised. The issue here is not marketing. You know what small businesses need? We need money.”
Ngwenya has pleaded with government to support start-ups with an enabling environment.
“We need the government to create an environment for us, where we easily access money.”
He says it is difficult to run every aspect of his business, mentioning that he is involved in the design, marketing and distribution of the product.
Ngwenya says his business has grown to a level that is beyond his power.
During his interjection, he posed a question to the interviewee and other panelist, “Do you have a national brand? That you have been running for the past five years? That is being distributed to stores across the country. Do you have?”
Earlier in 2018, Ngwenya “disappeared” and later received treatment for depression at a clinic.
The interview started doing the rounds on social media Thursday afternoon, with many blaming the failure of Skinny Sbu Socks on Ngwenya’s lavish lifestyle.
Some say his arrogance can be a deterrent to potential investors.
Skinny Sbu reiterated his stance on rejecting business advice on MetroFM late on Thursday afternoon, saying “I don’t need advice, ke nyaka zaka (I need money).”
Tweets:
Skinny Sbu is an instant money-maker masquerading as an aspiring entrepreneur. He just got exposed when money said #Andizi#SkinnySbu
— Hloni Nyetanyane (@HloniNyetanyane) October 18, 2018
OPINION: I think Sbu of Skinny Sbu should step back from the media blitz
Optics matter and right now he is not coming off looking good and an investment attraction. He is angry & frustrated, NOTED.
Right now though, he is coming off as whiny, entitled and arrogant. pic.twitter.com/XfglIpS68r
— Phil Mphela (@PhilMphela) October 18, 2018
Skinny Sbu calls himself a celebrity entrepreneur… yin leyo?
— Mamncane (@khvnyi) October 18, 2018
“I don’t need advice, ke nyaka zaka” – .@skinnysbu #TheDriveOnMetro#SkinnySbu pic.twitter.com/sDtDgqsTZq
— METROFM SABC (@METROFMSA) October 18, 2018
WATCH Skinny Sbu’s full interview below:
