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De Beers Zimele Success Story

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MEMORY IS LIVING THE DREAM

Thanks to a loan from the De Beers Zimele Venetia Mine Business Hub

Memory Siphephile Malapane

Memory Siphephile Malapane

In 2006 money was tight, and she was sleeping on the floor of her shop in Sibasa with her two daughters, but Memory Siphephile Malapane didn’t mind – she was living her dream. Eight years have flown by as have the blood sweat and tears required to successfully start your own business, but today Memory has a legacy she can be proud of thanks, in part, to the De Beers Zimele Venetia Mine Business Hub.

In 2011 Memory and her husband divorced and she was faced with a difficult decision. She could choose to give up her decor shop and return to a conventional nine-to-five job where her salary was guaranteed, or risk failure and continue to run the business on her own. The choice for Memory was obvious, “I had tasted the good life, and it was too painful and hard to go back. I did not want my children to have a hard life or to experience the heartache that I did.” Fortunately, a business friend recognized Memory’s potential and recommended that she approach the De Beers Zimele Business Hub for a low interest loan. Memory made application for a loan to the value of R100 000.00 which she used to purchase stock and expand her business to include a second branch in Louis Trichardt. As a result of the funding she could retain the jobs of the four individuals currently in her employ and create an additional three jobs. Memory’s shop is called ‘Best Enough’ and represents her strong belief that her best efforts are enough to ensure success. She trades in decorative home items including moulded cornices, pvc ceilings, glue and rhino boards.

Memory showing her products to a client

Memory showing her products to a client

Today, Memory has repaid the entire loan and her business is thriving. She dreams of developing her enterprise, to include branches in Musina and Tzaneen. She is also researching the possibility of starting a small spare parts counter in conjunction with her current store and has already started researching this idea and testing the local client base. “At De Beers Zimele the interest is low and the service is good. Here I have found someone who speaks my language” says Memory.

 

Memory and her team at Best Enough

Memory and her team at Best Enough

When asked about Memory’s success Hub Manager, Stanley Boloko says, “Memory’s small business was at risk of closing. By partnering with her we were able to save four existing jobs and create an additional three employment opportunities. For us at De Beers Zimele, jobs are precious and we do all that we can to sustain and promote them within our local communities. We are very proud to have played a role in Memory’s success and we hope to partner with similar entrepreneurs and business owners in the Thohoyandou area in the near future.”

Article received by courtesy of

Tarryn

Tarryn Genis

Senior Corporate Affairs Officer

Communications

Posted in Administration by Hotshot on October 7th, 2014 at 16:36.

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