Anglo American-owned company Kumba Iron Ore’s Kolomela mine has produced its first entrepreneur, who owns a small construction company in Postmasburg.
Through its Small Business Development Centre, Kumba Iron Ore’s Kolomela mine loaned R100 000 through Zimele to Maruping Matiti’s construction company in Postmasburg, and he has completed paying off the loan.
The loan was granted to support Matiti in the execution of a tender that was awarded to him by the Assmang-owned Beeshoek iron-ore mine. The tender entailed the construction of a fence around a local school.
Zimele is Anglo’s enterprise development initiative, which provides funding and support for previously disadvantaged people. Established in 1989, the funding initiative aims to create sustainable small and medium-sized enterprises.
After having applied for the loan last year, Matiti needed a vehicle that would allow him to transport his staff and equipment to the project in order to complete the work. Following the success of his application, Matiti was able to buy the vehicle and pay back the loan without skipping any instalments.
The loan assisted Matiti in completing the project within the required period, which resulted in his receiving an additional project to spray-paint the fence. With this additional project, he was able to fund the spray-painting project with the profits made from the first project.
“This is one of the many initiatives that we support in order to give more economic development opportunities to communities around the mine,” says Kumba Iron Ore public affairs executive head Yvonne Mfolo.
Mfolo notes that the company hopes to build communities that are able to thrive and sustain themselves beyond the mine’s life.