Two young people are creating jobs for the youth, thanks to a loan from the Industrial Development Corporation (IDC).
The owners of Maloka Machaba Surfacing, Kate Machaba and Matshela Maloka, have hired 28 people, most of whom are young, at their Polokwane-based asphalt business.
Both civil engineers are 32, and passionate about being drivers of the economy.
Their business offers three main services: the manufacturing, surfacing and transporting of both hot and cold mix asphalt.
Hot mix asphalt is mainly used in the construction of tar roads while cold mix asphalt is mainly used to fix potholes. Both hot and cold mix asphalt are mixed at the company’s plant and come with a certificate of approval from civil engineering testing laboratory Mocha Labs.
Maloka, who is the chief executive officer of Maloka Machaba Surfacing, said a loan from the IDC helped them buy the specialised machinery needed to
operate in the asphalt space, including trucks, pavers, rollers and distributors.
Applying for an IDC loan
The company’s loan application went through several processes at the business
Machaba, who is the chief operations officer, said they had to present a well-researched business plan when applying for the loan.
“Make sure that you have done your research thoroughly of the industry you want to get in to,” she said, adding that entrepreneurs should also remember that the loan has to be repaid.
Maloka Machaba Surfacing is on the road to success because of the assistance it received from the IDC.
The IDC advised applicants to ensure that their application has all the relevant documentation. If you are an entrepreneurs and you require the assistance of the IDC log on to www.idc.co.za or call them on 0860 693 888.