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

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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 one of the players 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, says:

“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 seen some leaps of transformation, with increased investment in the pipelines and a drive towards cleaner energy.

This, however, has not deterred Makwande from continuing its services not only in Mpumalanga but across the country. Govender says the NEF remains committed to supporting businesses like Makwande 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.