DJ Sbu on bad money habits and obstacles faced by black entrepreneurs

Outspoken entrepreneur DJ Sbusiso Leope says when he was younger, he thought that he needed material things for validation

Speaking to SlikourOnLife, DJ Sbu shared some of the mistakes he made when he started earning good money early in his career.

“At some point when I was younger, I needed validation and I thought validation came from me  wearing a Burberry jacket, parking a Porsche or an Aston Martin outside, wearing a Rolex watch – I still love the finer things in life. I thought it made me feel better and I felt it made me somebody,” he said.

He adds that he has learnt that validation doesn’t come from material things. He also spoke spoke about the challenges of getting funding as an entrepreneur.

“They will give you a loan for a house, which you will pay over 20 years, they will give you a loan for a Vrrr phaa… and you will pay it over five years and if you calculate how much money you paid in 20 years, you will pay that R500 000 quadruple times, but if you are asking for R200 000 to start a business – less than half of that R500 000 – you are not going to get that loan,” Dj Sbu said.

He explained that financial institutions are not structured in a way that accommodated the modern-day entrepreneur.

“You go get a car to start a business, it will be tougher than getting a loan to buy a car. Why is that? Its because a black child is not meant to be empowered,” he said.

Watch the rest of the interview below: