Dreams come true for entrepreneurs
Taking SA forward with financial aid
Established in 2002, MMQS has grown to become an operation with 47 employees, 36 of whom are qualified quantity surveyors.
The NEF’s funding has led to the creation of a further 18 jobs for qualified professionals. The funding was used for software and equipment, working capital, contingencies and further expansion.
The NEF says MMQS passed its funding requirements with flying colours thanks to the fact that it is 100% operated by young black people and is positioned to propel transformation in a sector that is proving slow to embrace BEE.
MMQS provides consulting services, from which it earns fees.
These services include construction contract law, construction project auditing, construction management, life cycle costing, value engineering, value management, construction procurement and project execution plans.
Among the flagship projects completed by MMQS are the Royal Bafokeng Sports Palace Fifa 2010 upgrade, the Lebone II College of the Royal Bafokeng, the Absa Towers North Absa consolidation project and the Voorspoed De Beers diamond mine. NEF funding - R10 million. fuel. It holds a fuel wholesale licence from the department of minerals and energy.
Finesse Energy’s founding members are Malose Leolo and Gerald Seloana, who jointly hold 85% of the business. The balance (15%) is owned by Martin Phoshoko.
Finesse Energy services smaller private businesses. NEF funding - R9 million. Owned by Wanda and Mbali Zama, who applied for and received funding from the NEF to take over an existing petrol station in Soshanguve, Pretoria.
They already had one service station and this was a logical extension of their business as the NEF determined that they ran the service station well and also sold vast quantities of petrol in the area.
The company is 100% black-owned and 50% woman-owned. NEF funding - R5.1 million. The NEF also funds franchises and when four business partners – Tshepo Seemane, Tshepo Ndlovu, Desmond Matamu and Vongani Mashaba – approached the organisation with a proposal to open a Pick n Pay store in the Tshwane inner city, a loan of R6.6 million was given to the partners.
The store has created 102 jobs and is managed by Seemane.
This franchise is 100% black-owned.
Durbanite Nothando Zungu (28) had a simple idea for a business – transporting staff to their jobs at retail outlets. Her company was awarded a contract by the Edcon Group Work Force Management division to provide a shuttle service for staff who were doing stocktaking at various stores around Durban. At first, she hired vehicles to shuttle the workers, but the Edcon contract required her to own at least five minibuses. She approached the NEF, which supplied her with R1.8 million so that she could buy the vehicles. “I am a marketing graduate. I believe entrepreneurial skills are learnt at an early age and you have to have the desire for business to make it,” Zungu said. “I always wanted to be an entrepreneur – it’s just that, after school, it wasn’t quite clear what business sector I was going to be in. As a marketing person, I enjoy research, so I did my research and then my interest focused more on the transport sector. “I started by engaging the corporate industry by offering staff transport services. At the time I started offering the transport services, I had no vehicles. I got a huge opportunity with a national retail group and that was the foundation of my business,” Zungu explained. “Although I was running the business well, I was not making a profit because I had to outsource drivers and vehicles to meet my stakeholder demands. “This is where NEF came in as a structure of support by providing me with the resources to stabilise and grow my business for my own financial gain as a young South African,” she said. Zungu decided to approach the NEF for funding assistance because she had applied to several funding houses, but “none was as professional and enterprise oriented as the NEF”. “The NEF process is different from other funding houses – the organisation goes beyond providing an emerging entrepreneur with financial assistance. Today, I can proudly say that it has guided me and taught me the correct way to perform daily business practices, which positively influences the operation and growth of my business. “The NEF gave me an opportunity to share my business interest, and provided a formal interview platform, which made me feel that I was being taken seriously. Every step that needed to be made during the application process was always clearly explained to me,” she said. “I received a lot of support during the application process as I learnt business practices that I have implemented in my business. With the NEF, the process continues even after the financing. I love that we have ongoing communication – it keeps me working, ensuring that the corporate services side of the business runs well. I am continually looking to grow my company,” she said.
PAY IT FORWARD Through a partnership and with help from the NEF, Stylco Empowerment has so far been able to employ 84 staff members