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.
Led by the visionary Tebogo Moloi, this milestone not only reflects the company’s unwavering commitment to excellence but also propels them toward greater success in the construction industry.
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Established in February 2010, Oakantswe Construction and Projects has steadily gained recognition for its exceptional electrical installations and renovations for commercial and industrial projects, both within Gauteng and across Southern Africa. Under Moloi’s leadership, the company has become a formidable force, delivering electricity solutions to entities of all sizes, from humble households to large corporations.
Moloi explained the significance of the funding, saying, “Oakantswe was experiencing rapid growth and high demand for our services. However, we were unable to cater to all our clients due to capacity constraints. This funding is a game-changer for us. It will not only increase our revenue but also enhance our service delivery by reducing equipment hire costs and improving turnaround times.”
The injection of funds from the Abadali EEIP will catalyse the creation of 20 permanent jobs within the next five years, as Oakantswe Construction and Projects transitions from subcontracting to building an in-house team of qualified and dedicated electricians. This will enable them to meet the escalating electrical contracting needs of clients throughout the country, further cementing their position as a leading player in the industry.
Collaborating with Edge Growth has proven invaluable for Oakantswe Construction and Projects. Moloi expressed her gratitude, stating, “Working with Edge Growth has been an eye-opening experience. Their insights have helped identify areas for improvement within our company, and their guidance has been instrumental in our growth journey.”
The construction industry in South Africa has long grappled with gender imbalance, with women comprising only 1.4% of the non-administrative workforce.
However, Oakantswe’s success as a 100% black female owned enterprise serves as an inspiring example of entrepreneurship, igniting hope for a more inclusive and diverse future within the sector.
Alex Rodrigues, representing Edge Growth, shared his excitement, emphasizing the significance of supporting Oakantswe Construction and Projects. He stated, “This is an exciting opportunity to champion a highly competitive black-woman-owned construction company in South Africa.”
The Abadali EEIP, introduced in 2021, is an innovative initiative aimed at providing short-, medium-, and long-term financial support over an eight-year period to businesses in need of growth capital. Edge Growth’s collaboration ensures the effective management of the medium- and long-term commitments, fostering positive economic and social impact within the local community.
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.
Through their partnership with Edge Growth, Oakantswe Construction and Projects is poised to overcome growth constraints and unlock their full potential in the construction industry. The Abadali EEIP Fund is administered by Edge Growth and was launched in 2021 as a joint initiative by the department of trade, industry and competition and an international investment bank.
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