Breaking barriers and building Legacy: Icebolethu Group sweeps three major awards
African women entrepreneurs face persistent barriers
Icebolethu Group, under the visionary leadership of founder and CEO Nomfundo Mcoyi, has clinched three prestigious accolades this year, cementing its status as a powerhouse of purpose-driven African enterprise. The company was recognised as the Best Organisation for CSI (Foundation) and awarded Best Organisation Led by Women, and the honour of Best Customer Service Award. Collectively, these accolades represent a watershed moment for African women in business, highlighting the powerful intersection of innovation, social impact, and inclusive leadership.
The Commonwealth Business Excellence Awards are an annual programme that recognises organisations and individuals that demonstrate their successes on the path to global best-in-class performance. Pictured: IIcebolethu Group, CEO Nomfundo Mcoyi.
Image: Supplied
“These awards are not just a celebration of our work, they are a call to action,” said Mcoyi. “They affirm that African women are not only capable of leading, but of transforming industries and communities with excellence and heart," Mcoyi said in her acceptance speech at the Concorde Hotel Kuala Lumpur, Malaysia. Founded to provide dignified funeral services tailored to black communities, Icebolethu has grown into a multi-sector enterprise spanning insurance, catering, and community outreach serving as a model for purpose-driven entrepreneurship rooted in cultural dignity.
The Best Organisation Led by Women award recognises Icebolethu’s commitment to gender equity, with women occupying key leadership roles across its divisions. Despite their outsized role in informal economies, African women entrepreneurs face persistent barriers to scale, including limited access to capital and systemic bias. According to the African Development Bank, women-led businesses receive less than 10% of available venture funding, despite reinvesting more into education, health, and community development.
In a continent where women entrepreneurs often face systemic barriers to scale, Icebolethu stands as a blueprint for inclusive growth.
“We are building legacies, not just businesses,” Mcoyi added. “When women lead, communities rise.”
The programme celebrates businesses' and individuals' resilience in the commonwealth region and their ability to push the limits of best practices and innovation.
"These awards highlight a broader shift in African entrepreneurship, where women are increasingly at the helm of businesses that blend profit with purpose," Mcoyi concluded