Emmanuel Ngulube and Daniel Eyre are two South African youth, both aged 29, who were bold enough to go after what they believe in. Well on their way to being leaders in the trading and energy space, their vision has always been bigger than them. It is to empower Africa's youth by creating jobs and providing energy to the country's and eventually the continent's energy grid. "When we heard about Akon providing power to all those households in villages around the continent, we were like why can't we do it? Plus Emmanuel was already in the mining space," says Eyre.
Ngulube and Eyre attended high school together in Johannesburg, which was when they had their first attempt at business that proved to be unsuccessful. At the time, they didn't know that life was preparing them for something way bigger. "We didn't think we'd end up in business together," says Ngulube. "The first time we got into business together we were 17 years old. I was throwing a party and Daniel threw his pocket money in my party and that's the first time we ever lost money together."
Introduction to minerals trading
Ngulube's introduction to minerals trading was by fate, more than anything. After taking a gap year to fulfil a church calling, the following year he got a job at Dozer Earthmoving where he worked as a general worker, sweeping floors. "That was my introduction to mining. I got promoted quite quickly in the business," he shares. "Then I learnt about the machinery and got into sales, the first client I ever sold to was De Beers. I was put onto that account to maintain their earth moving equipment." This opened his eyes to opportunities in this sector. "I brought on Daniel and another partner, who has now left, and that's how E&T Minerals came about."
Obstacles along the way
"Getting funding from financial institutions or even the government has been a challenge. "People tend to look down on us because we got into this industry young," shares Eyre, in part. "We constantly have doubt placed on us but always hold our heads up high. We got our first deal within the first three months of operating and then it took us a year and a half to get our second deal."
Empowering South African Youth
Being a youth-owned company, the management at E&T understands the importance of shaping the leaders of tomorrow. At least 90% of their staff is Black and 80% percent is youth. They are also heavily invested in outreach programmes within the communities they operate in.
Future plans and legacy
The long-term goal for E&T is to become a big player in the trading and energy space in Africa. "We're looking at getting our own assets in mining and then moving up the rest of the continent. We want to grow the South African supply chain and assist in some of the inefficiencies of exports," says Eyre. "We want to be people of our word and be people of integrity."
E&T Minerals is a southern African commodity brokerage and trading house specialising in coal and coal products. We also have the capacity to source various bulk metals, including chrome, iron ore and manganese, as well as bulk fuel. Our focus is on full transparency and finding long-term solutions that work for our customers. Our long-term goal is to become one of South Africa's biggest coal exporters. The core of our operation is a small team operating from our offices in Sandton in Johannesburg, South Africa, who have deep knowledge of African commodities, logistics and business practices. We are able to draw on the expertise of long-established partners, both local and multinational, for services such as mining contracting, construction, logistics and trading.
E&T Minerals was established by two young entrepreneurs, Emmanuel Ngulube and Daniel Eyre, in 2013, in partnership with global coal traders HMS Bergbau. Ngulube and Eyre have a wide network of long-established contacts with key players in the southern African region, which has enabled the firm to endure and flourish through years of extreme volatility in global and domestic coal pricing.
E&T Minerals is a South African based commodity brokerage and trading house founded in 2013. The trading house, specializing in coal products.
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