Khwezi Yamaphi’s story is the epitome of resilience and dedication. After suffering one of the most significant setbacks in 2019, he was more determined than ever to pick up the pieces and forge ahead.
Johannesburg, South Africa (27 September 2022) – For Khwezi Yamaphi, the proud owner of two Silulo Ulutho Technologies (“Silulo”) franchises, this setback meant starting from scratch. Kwezi’s internet café and computer training facilities were looted and vandalized during service delivery protests in Nomzamo, a small township just outside Strand in Cape Town.
At the time, Khwezi found that looters had stolen computers and other operating equipment before vandalizing his facility and leaving it in what he could only describe as a “terrifying state” What was once a vibrant, SETA-accredited facility, providing internet access and computer training to the residents of Nomzamo was now a distant memory. The facility suffered an even heavier blow when the looters returned the next day and robbed them of the remaining computers and equipment at gunpoint, leaving Khwezi and his staff with no hope of getting the business on its feet again. This loss crippled his business as he lacked funds to replace the stolen equipment, some of which were not insured at the time.
Khwezi’s journey with Inyosi Empowerment had started in 2017 when he applied for loan funding to acquire his business after being introduced to Inyosi Empowerment by Silulo’s executives.
His application was successful, and Inyosi Finance NPC provided a loan to Khwezi’s company Funda Solutions (Pty) Ltd. After the store was looted Khwezi’s first call was to Inyosi Empowerment, who had provided him with business loan funding in order to acquire 100% ownership of his Silulo Franchises. Inyosi provided Khwezi with grant funding to replace the stolen computers and suspended interest and payments on his outstanding loan until his premises were repaired and in operation.
“Inyosi has been good to me. In fact, there was never a time when I was in need, and they did not come through for me. I will forever be grateful,” Khwezi said.
Due to the high demand for ICT services in the Nomzamo area, Khwezi’s business has grown exponentially. “Inyosi assisted me in obtaining.
“100% ownership of both stores. For me, the fact that I could be granted credit and at such low-interest rates is a very big thing. I cannot think of any bank or money lending organisation that could grant credit at such low-interest rates,” Khwezi concluded.
Inyosi Empowerment has more than a decade’s worth of experience in facilitating Black-owned businesses, with access to capital, markets and skills. With over R800 million used to aid more than 300 black-owned businesses, Inyosi has helped many businesses adapt to the ever-changing economic situation, assisted the development of many business owners’ skills, all while providing competitively priced funding, agreed-matched grant funding and access to their in-house web-based preferential procurement portal, www.iHive.co.za – providing them with access to our over 500 investor companies.
In commemoration of a decade’s worth of loan funding, and pushing the envelope for black-owned SMMEs within South Africa, Inyosi Empowerment has launched an exclusive business loan funding competition, whereby one black-owned business could win an interest-free loan of up to R5 million. This competition is aimed at celebrating the positive impact loan funding can have on the growth of SMME’s and how this, in turn, spurs on job creation and economic growth in South Africa, much like the domino effect, but more specifically the “Inyosi domino effect.”
If it were not for Inyosi Empowerment’s grand funding, Khewzi may not have been able to re-establish his business, and ultimately without Inyosi funding he may have given up on his entrepreneurial dream of owning his own business – which would have left not only Khwezi, but his staff unemployed and the community without sufficient access to ICT Services.
To find out more about Inyosi Empowerment and their exciting business loan funding competition, visit there website here: www.inyosi.co.za/borrowers/competition/.
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