Industry News | Blog
Bridgement + The Slow Fund: Meet Thabang Mafela
By Lorin M|
November 12, 2021
In partnership with the Slow Fund, we’re incredibly excited to announce that Thabang Mafela, founder of Hokae Mobile Billboards, is the second of four entrepreneurs to win a R20 000 interest-free, fee-free business loan from Bridgement.
Hokae Mobile Billboards
Launched by Thabang during the peak of Covid in 2020, Hokae Mobile Billboards is not only in the business of outdoor mobile marketing and advertising operating in Ekurhuleni, but also a delivery service available to those living in Thabang’s community. How is one entrepreneur able to do both? Thabang created a mobile billboard that’s able to hold small loads within an enclosed container, mounted directly onto a tricycle.
In order to bring this business to life, Thabang had to think outside of the box. “The first phase was to convert a normal 26 inch mountain bike into a tricycle,” he explains. “I had to find an individual within my community who has the required skills to do the conversion. This process was initially started by a boilermaker, then later I had to hire another individual in order to ensure that the drive-train and chains function as desired.”
With Steers and Milky Way recently signing up with Hokae for flyer drop campaigns, Thabang is excited for what’s to come and plans to expand his business with another advertising and delivery trike. “I foresee an increased demand for the emerging service,” he says.
The Slow Fund
The Slow Fund is an initiative which helps budding entrepreneurs launch small businesses by offering free funding to an entrepreneur every day for a year to cover initial start-up costs or provide a cash injection.
Bridgement has partnered with the Slow Fund and is giving a R20 000 interest-fee, fee-free business loan to the top Slow Fund entrepreneur each quarter, with Thabang being the second recipient. Along with the loan, the winning entrepreneurs will also get a free payment holiday of up to six months to give them enough time to put the funding to work in their business.
To access a fast and flexible credit facility for your business, apply online at Bridgement by heading here.
Business Loans | BlogAlternative Funding For Business: Revolving Credit March 27, 2023
Given just how cumbersome and slow traditional funding channels can be, more and more SMEs are researching alternative funding for business. And why wouldn’t they? If the Minister of Finance’s budget speech and the President’s State of the Nation Address told us anything this past month, it was that South African SMEs are the engines…
BlogThe role of accountants in SME funding March 22, 2023
If you read our heroic article about why it’s high time that we recognised the very essential (and very cool) role that accountants and business advisors have to play in their organisations, you might think that we’re harbouring an agenda to MAGA (Make Accounting Great Again, obviously). And you’d be right. All jokes and perfectly…