Julia Rwigamba

Politics Insight

NEF backs Black woman-owned Makwande in a major investment boost

The National Empowerment Fund (NEF) has completed a major investment in Makwande Supply and Distribution, a 100% Black woman-owned business headquartered in Alrode, Gauteng, with depots across provinces including Mpumalanga, Free State, and Limpopo. This investment marks a pivotal moment for the company, which has demonstrated exceptional growth and a strong commitment to safety and sustainability in the petroleum logistics industry since its establishment in 2009.

A Proven Track Record of Success

Makwande's growth has been remarkable. Since its inception in 2009, the company has steadily expanded its fleet. This journey reflects years of dedication and resilience as Makwande successfully managed contracts with oil industry giants, solidifying its position as a key player in the fuel distribution sector.

With the recent NEF investment, Makwande has further enhanced its operational capabilities and infrastructure, ensuring continued competitiveness in a rapidly evolving market.

Economic Empowerment Through Job Creation

Since receiving NEF funding in May 2023, Makwande has sustained employment while creating additional positions. Ms. Nona Chili, owner of Makwande, expressed 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.”

iMbewu fund manager, Eldene Govender, who heads the NEF’s SME unit, emphasized the broader impact of this investment:

“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.”

Looking to the Future

The petroleum transport industry has experienced significant transformation, with increased investment in pipelines and a drive towards cleaner energy. Despite these changes, Makwande remains steadfast in its commitment to providing exceptional services not only in Mpumalanga but across South Africa.

Eldene Govender reaffirmed the NEF’s dedication to supporting businesses like Makwande:

“The NEF remains committed to supporting businesses that drive local economic development and create jobs. Together, we are forging a path toward a more equitable and prosperous future for South Africa.”

As Makwande continues to grow and excel, the collaboration with the NEF represents a significant step forward in empowering Black-owned businesses and fostering innovation within the industry.

About Author

Julia Rwigamba is a dedicated content writer for Laaimylorrie.com, bringing her passion for the transportation and logistics industry to every story she covers. With a keen interest in the innovative solutions and challenges shaping the sector, Julia excels at providing in-depth analysis and insightful reporting. Her work highlights the dynamic interplay of technology, policy, and the human stories behind the wheels that drive commerce forward.

Written by Julia Rwigamba

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