Customer Success Stories
In 2014, a total of 495,568 people were employed in the mining sector. Most mineworkers live on mine sites as they are often in the more remote areas of South Africa far from their family, friends and facilities such as shops and convenience stores. As a result, mining companies depend on suppliers and distributers for the delivery of goods to the mines, for the workers.
Mining companies often turn to bigger organisations for such requirements. But Mzoxolo Andrew Yokwe, the owner of a small business called Reyakopele Trading, which manufactures and distributes cleaning products like detergents, hand cleaners, laundry soaps, groceries and other consumables was keen on being the go-to-guy for a mining company in Modderfontein, Westonaria.
When Andrew approached Lulalend he had a potential contract with the kitchen division of a listed gold mining company. But he required stock in order to be able to meet demands and secure the contract that could bring him significant business growth.
Greater volumes of stock however, required Andrew to have a steady cash flow so that he could continue to replenish stock for his existing customers and meet the needs of the mining company.
Lulalend was able to assist him with funding so that he could have stock on hand and secure the pending contract. Not only was Andrew able to secure that contract with the gold mining company, but because of it he was also able to expose himself to their other mining divisions. Since then several of the other divisions have used him on a quotation basis as well.
As a result of being able to secure the contract, with the help of Lulalend’s funding, Andrew has seen his sales orders grow from R35 000 per month, in 2016, to R160 000 in 2017. This is an annual growth of 357% which is attributed to his hard work, determination and financial accessibility, which can open doors and usher in opportunities that otherwise would not be possible for small businesses such as Reyakopele Trading.