Eastern Cape: Bittersweet Trade & Investment (Pty) Ltd Beneficiary
Bittersweet Trade & Investment (Pty) Ltd 16 is one of the Developmental Micro Finance Institutions funded by samaf in the Eastern Cape Province. The micro financial intermediary is situated in the Amatole District Municipality at Mdantsane Township in East London. Their clientele is comprised of micro/survivalist entrepreneurs who rely on the Developmental Financial Institution for the development of their enterprises through the samaf funding Bittersweet MFI has been able to reach out to 213 clients within a three month period. Within the short space of time operating, they bought office equipment, software, employed 7 staff members on a full tyime basis and provided training to their staff.
The chairperson of Bittersweet Trade & Investment expressed gratitude to samaf for the R1, 5 Million assistance which was used for loans and for Capacity Building. The money mentioned above was disbursed to bittersweet Trade & Investment (Pty) Ltd in March 2009. During the interviews the clientele confirmed that through the loans received & good customer care by Bittersweet MFI, they were able to increase their stock, put food on the table and pay fees for their children’s education.
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2. Miss Sonti Fezeka
Miss Sonti Fezeka originates from Veeplaas in Port Elizabeth. She started her business through buying second hand clothes and sells it to the youth in her area. Now her business has grown in such a way that she is able to buy and sell second hand clothes to low earners and middle earners.
After meeting the criteria set out by Ziyazakha FSC, Ms Fezeka applied for her first loan of R2000, 00 with Ziyazakha in the year 2006. Within her first loan period she managed to pay the loan amount in full and went to the second loan of R3, 000.00. In future she intends to employ more staff to assist her in her business. The employed staff will sell clothes in the neighbouring communities and shops that sell second hand clothes.
She said in order to sustain and grow her small business she moved around to to find new opportunties in line with selling second hand clothes. The research made her realize that there is a lot of demand for German costumes and intends to supply learners who attends theme parties.
Miss Fezeka said that she cannot find the words to describe how she feels; her life has changed for the better because of the assistance that she received from ZIYAZAKHA Financial Services Co-Operative. “samaf must keep up the good work and keep on supporting Financial Intermediaries in our province”, said Ms Fezeka. |
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Application for Funding
Application for the registration of FSC
Application to register as a Service Provider
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