The National Empowerment Fund (NEF) has taken a transformative step in supporting black female entrepreneurship in South Africa by finalising a significant investment in Makwande Supply and Distribution.
Established in 2009 and based in Alrode, Gauteng, this 100% black woman-owned company has seen remarkable growth, highlighting a commitment to safety and sustainability in the competitive field of petroleum logistics.
With depots spreading across Mpumalanga, Free State, and Limpopo, the NEF’s financial backing marks a pivotal moment in the company’s journey, bolstering its operational capabilities in a rapidly evolving market.
Following the NEF funding in May 2023, Makwande has not only maintained its workforce but has also created new employment opportunities within the community.
Nona Chili, the owner of Makwande, expressed her gratitude for the NEF's support.
“This investment has enabled us to expand our operations, enhance our service delivery and create even more jobs in our community,” she said.
Her words reflect the broader mission of promoting local economic development through sustainable business practices.
Ms Eldene Govender, iMbewu fund manager and head of the NEF's Small and Medium Enterprises (SME) unit, emphasised that this investment transcends mere financial assistance.
“Our investment in Makwande is not just about financial support; it is about investing in the future of South Africa’s economy. The support empowers a black woman-owned business to compete at the highest levels, fostering innovation, change, and growth within the industry,” she said.
This underscores a critical commitment to enhancing the entrepreneurial landscape for black women in South Africa.
As the petroleum transport industry transforms through increased investment in pipelines and a sustainable energy shift, Makwande has proven its resilience and commitment to exceptional service across the nation.
Govender affirmed NEF’s ongoing dedication to backing such initiatives, stating, “Together, we are forging a path toward a more equitable and prosperous future for South Africa.”
With continued expansion on the horizon, Makwande’s alliance with the NEF embodies a significant leap forward in empowering black-owned businesses while stimulating innovation within the industry. This collaboration not only elevates Makwande but also serves as an inspiring model for aspiring entrepreneurs across the nation.
BUSINESS REPORT