With small and medium enterprises traditionally lacking capital, training and mentorship, Anglo American’s enterprise development arm, Zimele, has invested R700 000 in a steel construction company in Middelburg.
Over the past three years, Zimele has supplied funding to Bayela Workforce Construction, owned by siblings Akgosi and Salome Mokoena.
Funding growth reaps rewards
The funding enabled the company to purchase necessary machinery and cover material and labour costs.
As a result, the company has 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 notes, “Through Zimele’s financial support and 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.
“These positive results will enable us to uplift the local community, by creating sustainable employment for people without jobs.”
Funding and guidance are both necessary
Acting head of Zimele, Dr Lia Vangelatos concludes that Bayela Workforce Construction’s success is 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.