Limpopo: Bakenberg FSC Beneficiary
Mrs Mushophe is one of the well known people in the area of Maungani Thohoyandou who specializes in designing Venda traditional clothes around Sibasa shopping complex. She is the breadwinner, her husband is not working. Her family depends solely on her income for everything a family needs to make a survival.
Mrs Mushophe joined Akanani Finance Company in September 2005. She needed money to buy stock because there was a high demand of her clothing. Her orders are huge during the holidays as people use the attire for parties and traditional weddings. Her business has now grown to the extent that she have now employed 2 permanent and 2 casual employees who are always busy trying to meet the orders from her clients. Mrs Mushophe has been loaning the maximum amount that the company is offering since the year 2007. Due to her dedication and hard work, she won the prize of being one of the best chair leaders of the centre in her village.
Since joining Akananani Finance Company, her children are now attending tertiary education at the University of Venda. She is able to support her family without difficulties. Through the assistance received from samaf funded financial intermediaries, she was able to extend her house to be a six room which is a huge achievement in her area.
During the year 2008, she bought an additional machine that has some special stitches for her clothing worth R3500.00. Through her work and a passion to change her life for the better, she managed to also change the life of others by creating employment for 4 people. Her business has grown to the extent that she managed to open two depots at Madabani and Johannesburg, When asked how she feels about samaf contribution to poverty, she indicated that , “ I am so grateful to samaf , through their assistance I have managed to fend for my family, my children are now in University, samaf have led me believe that anything is possible if you put your mind and be dedicated about what you want to achieve,” her testimony is evident that the samaf is contributing to alleviation of poverty in South Africa.
Mrs. Jusky Mafafo comes from Kwenaite Village in Bakenberg. Before joining Bakenberg Financial Service Cooperatives she used to struggle with Government orders, due to lack of funds and as a result would lose all the business offered to her.
With the little money that she had, she managed to start a catering and decoration business. It is then that she decided to approach Bakenberg FSC to loan her money to enable her to expand her business in order to meet the demands of her clients. Because of the kind of orders she was getting from government, Bakenberg FSC had to consider her application even though she was a first time loan applicant. Mrs Mafafo started with a loan of R2500.00 and paid back the money with interest. Now she is able to deliver splendid decoration and catering services to Government and other businesses. Mrs. Mafafo mentions that before joining Bakenberg FSC she was afraid because she thought Bakenberg FSC was operating as loan sharks who will take her bank cards and make withdrawal transactions monthly. She realised that she was wrong after getting the orientation from the loan officer. Bakenberg FSC offered her a loan. Now she is able to pay her monthly repayments with an affordable interest rate.
She thanked the samaf funded financial intermediary in offering her the opportunity to improve her livelihood; “I would not have done it if I did not get their assistance. I will recommend it to anyone who needs assistance in terms of getting loans to improve their businesses,” said Mrs Mafafo
Mr. Solly Matheane hails from Diretsaneng village. He was recruited by his friend who is already a member of Bakenberg Financial Service Cooperatives. Before joining the Financial Intermediary he was the victim of the loan sharks in the area and the loans provided by them were not helping in terms of generating profit for his business. Instead of generating revenues for his business he was making profit for the loan sharks because they were deducting a lot of money monthly. In order to qualify for a bigger amount Mr.Matheane had to start with a loan of R1000.00 which is standard for all first time loan applicants .He paid the loan once off with interest. It was only after paying the first loan that he was allowed to borrow bigger amounts.
He first contacted Bakenberg FSC with the group named Pudiakgopa, the group did not perform as well as expected. Seeing that the performance of the group was affecting his business, he decided to go through the loan process alone. Now he is able to save some of the profit and he is even making repayments in advance. He has employed three women on a temporary basis; the loan has changed his life and the standard of his business. He has managed to buy storage boxes for their stock. Mr. Matheane said in his own words that he recommends samaf funded financial intermediaries to all struggling small businesses and medium enterprises.
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