100% Black Female Owned Construction Company Secures Funding
100% Black Female Owned Construction Company Secures Funding. Oakantswe Construction and Projects, a 100% black female owned and managed electrical contracting firm, has secured funding from The Abadali Equity Equivalent Investment Programme (EEIP), which is administered by Edge Growth.
Based in Pretoria, 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 says. “This funding will enable us to increase our revenue and service delivery due to savings on equipment hire costs and improved turnaround times.” This 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 says 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.
This is an exciting opportunity to back a highly competitive black-woman-owned construction company in South Africa,” says Edge Growth’s Alex Rodrigues, who helped facilitate the deal. 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. Leading 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 aims to be a leading black South African economic empowerment company and the construction firm of choice in the market they serve, delivering electrical installations, electrical and building maintenance and renovations.
