Zimele supports SME development

In 2012, Zimele provided a loan of R1 million to Mckhenzi Trading, a company that maintains and installs conveyor belts for mining companies and heavy engineering industries. This enabled Mckhenzi Trading to purchase materials, pay employees' salaries and keep the company running during a tough financial period that it experienced.

Resultantly, the company, which is jointly owned by Betty Phashe and Joshua Mudonha, has been able to fulfil its business goals, having landed several contracts with major clients. Founded in 2010, Mckhenzi Trading also has the expertise to maintain trackless equipment used for underground mining operations.

Critical support enabling growth

Joshua Mudonha notes that Zimele's support has proved critical to the company's growth aspirations: "Prior to our introduction to Zimele, our company was struggling as some customers were reluctant to utilise our services owing to our relative industry inexperience. But through Zimele, we have been able to strengthen our company resources, gain a name for ourselves, and compete with other companies that are already established in the sector."

Mudonha adds that Zimele did not only provide them with financial assistance, but also provided fundamental guidance in running a successful business. He also mentions that Zimele played a significant role in the betterment of the community members through job creation.

"Owing to the funding from Zimele, our staff complement has grown from 174 to 203 and by identifying other business opportunities and maintaining long lasting relationships with clients, we aim to grow and create more employment opportunities. As a business, we always focus on the strengths and uniqueness of every employee as their contribution is important for the ultimate success of the company."

Mudonha concludes that the company's goals are centred on delivering outstanding service, with determination and excellence as the company strives to become the preferred supplier in the area and continue with the creation of sustainable employment.

A holistic approach to socio-economic development

For over two decades, Zimele's unique 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 concludes that Zimele has the capacity to create a real difference in the development of SME's: "Zimele's unique holistic approach to enterprise development has consistently ensured that a widespread change is created in poverty-stricken communities, as the support we provide not only allows aspiring entrepreneurs to run a sustainable business, but also furthers the betterment of people who reside near these enterprises by creating employment.

"We are therefore proud that we can help SMEs such as Mckhenzi Trading to become established, thriving businesses, and resultantly further socio-economic development in communities throughout the country."

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