Serial entrepreneur Sibusiso September Ngwenya (34), known for his sock brand Skinny Sbu Socks, has dropped the “Happy Socks” business to pursue a career in the automotive industry.
He is looking to build South Africa’s first premium electric car. After 12 years of carving his path in the fashion industry, Sbu announced his retirement to launch SSS Electric Cars, which he deems his boldest venture yet.
“This is my most creative business idea thus far,” he said.
Prototype to knock your socks off
The Forbes Africa 30 Under 30 recipient, who turned his sock brand into a big deal when he started with just R70 capital, now wants to raise R50 million to build South Africa’s first premium electric vehicle brand.
His fundraising campaign kicked off this week and will be running for 88 days, during which time he will be asking for donations for this new venture.
“It sounds unrealistic if you are not ambitious enough, but this is a revolutionary idea. One of my best,” he told Sunday World.
“Supporters will be able to purchase collector’s edition SSS Monogram Stockings or SSS Socks — the final pairs that I will be making. These are not just socks. They are a ticket to building Africa’s future.”
Off to the races
Sbu has never shied away from thinking outside of the box, despite his lack of experience in the motoring business.
In the past he requested funding of R5 million towards his sock business. He also risked his life after approaching the South African president, Cyril Ramaphosa, at the airport to gift him with a pair of socks.
“As a business-minded person, you need to take risks; sometimes calculated and at times, just daring.”
In 2022, his designs featured in Grammy Awards gift bags awarded to winners and guests. Now, he’s calling on South Africans to invest in a homegrown innovation movement that will create jobs, inspire the youth, and prove that Africa can compete with the world’s best.
SSS Electric Cars will design, manufacture, and distribute premium EVs that blend African design aesthetics with world-class engineering.
