Over the last three years, Zimele has provided over R700,000 of funding towards Bayela Workforce Construction, which is owned by siblings Akgosi and Salome Mokoena. This funding has allowed the company to solidify its service delivery by making it possible to purchase required machinery and cover material and labour costs.
Resultantly, the company recently secured contracts with Eskom and the Steve Tshwete Local Municipality.
Further, the funding has also created a base for Bayela Workforce Construction to achieve sustainability, demonstrated by the fact that the company has already repaid nine loans and is currently only owing a small amount.
Akgosi Mokoena noted that Zimele's support has proved critical to the company's aspirations: "Through Zimele's financial support and concerted guidance in crucial business areas, we have been able to improve our business model considerably. Subsequently, our company's business ambitions are now being realised, as we have become a trusted and well-known name in the community, and have been able to secure high-profile contracts. Further, these positive results will enable us to uplift the local community by creating sustainable employment for people without jobs."
Bayela Workforce Construction was established in 2007 and currently has an employee base of six previously disadvantaged workers.
Since its formation in 1989, Zimele's approach to enterprise development has realised great rewards.
From 2008 to the end of 2012, its four funds provided R708 million in funding, supported 1393 companies and completed 1972 loan transactions. Further, funded businesses have employed 25,364 people and achieved a collective annual turnover of R3.4 billion.
Acting head of Zimele, Dr Lia Vangelatos concluded that Bayela Workforce Construction's successes are a testament to the real difference that the fund is providing to entrepreneurs and small business: "Zimele maintains that through financial support and concerted hands-on guidance, it is possible to help emerging entrepreneurs' businesses become sustainable and contribute meaningfully to the South African economy.
"Bayela Workforce Construction's growth is a perfect example of the successes we have encountered in this regard and, moving forward, we will continue to help bring several other small and medium enterprises towards financial independence."
