NEF Funds Youth-owned Landa Homeware
NEF Funds Youth-owned Landa Homeware. As South Africa commemorates Youth Month, the National Empowerment Fund (NEF) is proud to announce its funding of Landa Homeware, a 100% black-owned and 65% youth-owned company furniture manufacturing business.
This investment exemplifies the NEF’s commitment to empowering young entrepreneurs and driving economic transformation within the furniture manufacturing sector.Landa Homeware was established in 2020 after it identified a gap in the supply of high-end and modern furniture items that are affordable for the everyday consumer.
“We initially traded imported goods, however, the demand for the products grew and we established a manufacturing operation in Johannesburg. We set ourselves apart from our competitors by manufacturing trendy products that are still novel to the country. We source most of our orders online, the bulk of which is from social media,” says Landa Homeware Co-Founder Ms Silubonile Ngqandu.
The NEF’s Strategic Projects Fund Manager, Mr Cornelius Mduli, says that the organisation’s investment will facilitate the expansion of Landa Homeware’s operations. “The funds will go towards acquiring capital equipment and bolstering working capital. They will bring critical manufacturing processes in-house and invest in essential equipment as they aim to streamline production timelines and enhance cost efficiencies,” adds Mr Mduli.
Currently employing eight individuals including skilled carpenters, welders, a seamstress, and administrative personnel, Landa Homeware’s partnership with the NEF is poised to create an additional 10 direct jobs, furthering the company’s commitment to empowering local communities and driving socio-economic development.
Mr Mduli says that Landa Homeware’s dedication to innovation and excellence embodies the spirit of Youth Month.“During Youth Month we are reminded of the sacrifices of young people across the ages towards our country’s democracy, which turns 30 this year. If young people can contribute to freedom and democracy, they can also be catalysts for economic transformation growth. By investing in youth-owned enterprises like Landa Homeware, the NEF is nurturing the next generation of business leaders,” he explains.
Operational Director and Co-founder of Landa Homeware, Mr Njabulo Mchunu adds: “As we celebrate Youth Month, we are grateful for the NEF’s support in realising our vision. This investment will enable us to create more job opportunities for young South Africans and contribute to the socio-economic development of our country.”
“The partnership between the NEF and Landa Homeware stands as a testament to the transformative power of youth-led entrepreneurship. Together, we are poised to drive sustainable growth, foster job creation and propel South Africa’s furniture industry to new heights,” concludes Mr Mdluli.
