Oakantswe Construction has secured funding through the Abadali Equity Equivalent Investment Programme
In a remarkable achievement for women in entrepreneurship, Oakantswe Construction and Projects, an electrical contracting firm based in Pretoria, has secured funding through the Abadali Equity Equivalent Investment Programme (EEIP), administered by Edge Growth.
The Abadali Equity Equivalent Investment Programme (EEIP), which is administered by Edge Growth, has invested in Oakantswe Construction and Projects, a 100% black female owned and managed electrical contracting firm.
“This is an exciting opportunity to back a highly competitive black-woman-owned construction company in South Africa,” commented Edge Growth’s Alex Rodrigues, who helped facilitate the deal.
Based in Pretoria, South Africa, Oakantswe Construction and Projects focuses on a wide range of electrical installations and renovations for commercial and industrial projects, both in Gauteng and across Southern Africa.
Established in February 2010 and operating from March 2011, founder Tebogo Moloi has managed to stay competitive by ensuring that Oakantswe Construction and Projects is well-equipped to deliver electricity to any entity, from small households to large companies.
“When we requested this funding, Oakantswe was experiencing rapid growth and high demand for our services. However, we were not able to service all our clients due to lack of capacity,” Moloi said.
“This funding will enable us to increase our revenue and service delivery due to savings on equipment hire costs and improved turnaround times.”
The funding will unlock a further 20 permanent jobs within the next five years as the business shifts from subcontracting to growing their in-house team of qualified and dedicated electricians to meet the growing electrical contracting needs of clients countrywide.
Moloi said that so far working with Edge Growth has expanded her knowledge and provided key insights regarding areas needing improvement within the company.
Currently only an estimated 1.4% of the South African construction workforce in non-administrative roles are women. As a result of pressure for a more balanced workforce and the need to meet skills shortages, this figure is expected to rise in the coming years, creating even more opportunities for Oakantswe.
Launched in 2021, The Abadali Equity Equivalent Investment Programme (EEIP) is a first of its kind initiative by an international investment bank to provide short-, medium- and long-term finance over an eight-year period for businesses that are scaling and require growth capital.
South African SME development specialist and impact investor, Edge Growth, is managing the medium- and long-term commitments of the Abadali EEIP to create much needed positive economic and social impact locally.
Oakantswe Construction and Projects envisions becoming a prominent black South African economic empowerment company, the go-to construction firm in their target market. Their expertise spans electrical installations, maintenance, and renovations, with a steadfast commitment to delivering exceptional service quality.
www.oakantsweconstruction.co.za
