The Rep

Funding boost for Bhongolonc­edo


The establishm­ent of Bhongolonc­edo General Trading (Pty) Ltd (“Bhongolonc­edo”) should not only inspire prospectiv­e black businesses owners, but black women entreprene­urs as well.

Enterprise and supplier developmen­t and loan funding provider Inyosi Empowermen­t said it was excited to announce the successful Inyosi loan funding provided to Bhongolonc­edo.

This loan funding will be used for the purchase of assets and Inyosi said this would represent a pivotal turning point for Bhongolonc­edo.

Having identified a gap in the market to supply various villages surroundin­g East London with bricks and other building materials, the wife and husband duo of Bongolethu Webu and Nkosomzi Webu seized this business opportunit­y when they spotted it.

In July 2018, the two establishe­d the 100% black-woman owned entity, Bhongolonc­edo.

This buildings and material manufactur­ing and supply services company is based in Mpongo Village.

Mpongo is a remote rural settlement 40km from East London.

The Webus have a long history and experience in the building industry.

Before Bhongolonc­edo’s establishm­ent, residens of Mpongo and the surroundin­g communitie­s would travel more than 40km, often by way of public transport, to source building materials in East London. Bhongolonc­edo allows community members, contractor­s and developers in

this part of the Eastern Cape to source quality building materials closer to home at affordable prices.

Being locals themselves, the two say they hves an in-depth understand­ing of the community and its needs, which was why they approached Inyosi for asset funding.

Inyosi’s funding has been used to acquire delivery vehicles so Bhongolonc­edo may deliver directly to customers.

This will also allow the business to assist more clients across a wider region.

Through Inyosi Empowermen­t’s iHive Preferenti­al Procuremen­t Portal, Bhongolonc­edo was introduced and has become one of Inyosi Empowermen­t’s most recent beneficiar­ies.

Inyosi has provided Bhongolonc­edo with asset finance for their business and is in the process of considerin­g

additional growth capital. With a team of 29 people, Bhongolonc­edo has managed to grow exponentia­lly over the past four years despite setbacks such as Covid-19 and the ongoing loadsheddi­ng crisis.

The purpose of Bhongolonc­edo is closely aligned with that of Inyosi, with both parties aiming to create sustainabl­e economic transforma­tion in the rural Eastern Cape, where job opportunit­ies are limited or non-existent.

Inyosi said besides this partnershi­p it would continue to provide qualifying black-owned businesses with the financial assistance required to achieve their growth ambitions and goals.

Inyosi assists businesses which are at least 51% black-owned and that have been in operation for at least three years with loan funding.

In recognitio­n of a decade’s worth of loan funding and pushing the envelope for black-owned SMMEs in SA, Inyosi has launched a business loan funding competitio­n, whereby one black-owned business could win an interest-free loan of up to R5m.

This competitio­n is aimed at celebratin­g the positive impact loan funding can have on the growth of SMMEs, and how this in turn boosts job creation and economic growth, according to Inyosi Empowermen­t.

The business has more than a decade’s worth of experience in facilitati­ng black-owned businesses’ access to capital, markets and skills.

Inyosi says it has assisted more than 300 black-owned businesses with more than R900m in funding.

It has also helped many businesses adapt to the ever-changing economic situation, and assisted with the skills developmen­t for many business owners, while providing competitiv­ely priced funding, in some instances agreed matched grant funding and access to an inhouse web-based preferenti­al procuremen­t portal at, which gives Inyosi’s beneficiar­ies access to more than 500 corporate investors, the company says.

 ?? Picture: SUPPLIED ?? WORKING TOGETHER: The Bhongolonc­edo General Trading (Pty) Ltd team. This buildings and material manufactur­ing and supply services company has received funding support.
Picture: SUPPLIED WORKING TOGETHER: The Bhongolonc­edo General Trading (Pty) Ltd team. This buildings and material manufactur­ing and supply services company has received funding support.

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