Development Finance | What our clients say
Thami Gxowa of Ikusasa Green, King William’s Town: “Our continued success is a product of multiple strategic partnerships with the likes of DEDEAT, ECDC, Massmart, Industrial Development Corporation, Buffalo City Metro and the Small Enterprise Development Agency (Seda) among others.”
Karen Whiting of Sondelani Sports, East London: “Though business has been slow, Sondelani has seen some steady growth over the last two years and the assistance from the ECDC has been a great help.”
Zola Qontos of the Qonto Family Co-operative, Mooiplaas: “He told me that he had received support from ECDC and that the Corporation would be able to help me transition from subsistence to commercial farming. ECDC subsequently approved us a R500,000 grant which we used to buy two 30x10 channels, planting, machinery to cut and spray including pesticides and fertiliser.”
Sicelo Mntonga, multi-franchise owner, Mthatha: “ECDC made it possible for me to realise my dream and to apply my passion for entrepreneurship. When I started I only had the vision, but had no resources and ECDC effectively came to the rescue. ECDC opened doors for me, provided the needed funds and I benefitted from lucrative opportunities presented by the Debonairs Pizza franchise. They made my dream of personal and skills development a reality. ECDC which has invested a more than R12-million over the years.’’
Manelisi Gibson of Zibele Construction in Mthatha: “ECDC has made me the entrepreneur that I am today and I am still learning.”
Anele Peti of IncaPeace Trading in Libode: “Our relationship with ECDC has been a rewarding journey over a number of years. In 2016/17, ECDC extended its relationship with Incapeace Trading by providing top-up funding for us to service a new off-take agreement which we have concluded with Build It and Buffalo Timber.”
Vumile Mzinzi of Ithalomso Pharmacy, Mount Fletcher: “Those people had to travel about a total of 140km [to and from] Matatiele or of about 130km [to and from] Maclear and had to pay between R70 and R100 on taxi fares to only get prescribed medication. Now that a pharmacy has been opened right here in town, residents who want to access pharmaceutical services will save a lot of money and time on transportation.
Jaco Kotze, Jamak of Jamak Rigging: “At first I struggled to find funding, I was being turned away by different private lenders. I went from one bank to the next without success. Finally, someone suggested that I should approach the Eastern Cape Development Corporation (ECDC). ECDC approved a R500 000 loan to bring my dream to life. I used these funds to buy the truck.
“In 2016/17, I again approached ECDC to help me buy a crane from Italy that would elevate the business. The cost of the crane was R1.48 million and I raised R300 000 of the amount required. ECDC then paid the balance of R1,1 million in the form of a loan. I have no doubt that without ECDC’s assistance from the initial loan to the more recent one, it would have been almost impossible to get this business off the ground.”
Fikile Mkhiva of the Varhoyi and Mgodleni Co-operative in Mpangeni Park, King William’s Town: “The plan is to start planting different types of crops such as potatoes and beans to broaden supply. For us to achieve our goals, we realise we have got to get the infrastructure in place. We have started that process with a R500,000 grant from the ECDC administered Imvaba Co-operative Fund. The grant was used to buy a tractor.”
Mzukisi Mpatwana of the Kwenda Mwanga Co-operative, Tsolo: Now that we have the necessary infrastructure, our co-operative is doing well. We are equally pleased that ECDC officials constantly visit us to monitor progress and to provide professional advice to ensure our continued growth as a business.”
Thandekhaya Tshengwa and Luyanda Mpunzi, Nondobo Agricultural Co-operative, Willowvale: “ECDC’s assistance has helped us create about 50 sustainable jobs during fencing, bush clearing as well as with farming tools.”
Harold Peza, H&Z Construction owner in Mthatha: “ECDC has helped me a lot. It helped with financing when I was waiting for payment on other jobs. This allowed me to buy the materials required to push the new job forward."
Mthethunzima Mehlomakhulu, owner of the Fish & Chips Co, Mount Fletcher: “In August 2013, I picked up the courage to approach ECDC for a loan which was approved. I used the R450,000 loan to buy the franchise and equipment.”
Elliot Sopazi, owner-driver for Distell Limited, East London: “After selling the first truck and using the proceeds as a deposit for a second one in 2005, I was fortunate to receive a R867,000 loan from ECDC to buy a new truck last year. This has allowed me to own a modern new truck to service my business.
Thando Ngxingolo, first-time entrepreneur and owner of ZZZ Induna, East London: “I am delighted with the ECDC relationship. I would definitely work with ECDC again.”
Lunga and Noxolo Spiyale, B&B owners in Quigney: “We heard about ECDC and wanted to test them to see how they could help. What we found out was surprising. They know what they are doing. They used the national credit act as a means of gauging our affordability, even though we didn’t have an extensive track record as a business. They looked at our business plan, listened to our vision and seemed to understand our business. We never knew a small entity such as ours would be able to get finance for R2 million.”
Marlene Ewers, co-owner of the Langhurst Estate Bed and Breakfast business, Khowa (Elliot) which was assisted with a loan of nearly R2 and a three-month mentorship programme valued at R13,000: “(ECDC) gave us a soft loan to buy the property which helped a lot in getting the business off the ground.”