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funding gap emerging markets
South Africa

Institute Of Management Accounting

  • Lulalend
  • Invest in a Financial Institution
  • + 62 other investors
  • With a loan of EUR 27,200 IMAS can buy second hand cars to go visit schools and promote their educational services.

    €27,200
    Amount
    3.75%
    Interest
    6 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€27,200
    Interest3.75%
    Maturity6 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 4 hours on 7 June 2018.

      Summary

      After working as a Financial Manager for many years, Mr. Thela decided to start his own educational institute for aspiring accountants. The Institute Of Management Accounting And Strategy (IMAS) offers tertiary education, focussing on young adults that often work during the day and attend classes in the evenings or weekends. Their mission is to increase job perspectives for young South African adults. The business consists of 10 full time, and around 15 part time employees.

      IMAS aspires to be a leading accountancy learning institution in South Africa by 2019 and therefore request funding to finance their new marketing campaign. The money will enable them to buy second hand cars to go visit schools and promote their educational services. They are hoping to soon hire a new lecturer to deal with the increased demand.

      Local partner Lulalend provides this loan with a maturity of 6 months. 

      Company nameInstitute Of Management Accounting
      CEONkosinathi Thela
      Founded2013-01-01
      LocationMarshalltown
      SectorServices
      Turnover€973,280.76
      Employees25

      Impact

      More than 40% of SMEs in Africa mention the lack of financing as the major factor limiting their growth. To help overcome this challenge, Lulalend offers access to funding to SMEs in South Africa by delivering working capital within 24 hours through their automated online platform.

      Easy access to working capital increases productivity and job creation, both necessary conditions to reduce poverty. A formal job creates impact on income and enables regularity of wages, allowing a family to plan for the future, save money, and improve access to credit, housing, and children’s education. It can lift unskilled workers out of poverty and allow skilled workers to enter the middle class. Therefore financing SMEs with growth potential is one of the key ingredients for inclusive growth.

       

      SDGs impacted

      With this project you are contributing to the following Sustainable Development Goals:

      SDG 1. No poverty

      SDG 8. Decent work and economic growth

      Read more about the impact you can make through our platform and the SDGs on our impact page.

      • With this investment 1 jobs are created
      • With this investment 4 lives are improved

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      We have already contributed to Institute Of Management Accounting

      Leendert Smit
      Bas Kleijnen
      A. Pronk
      Gert Mosterd
      Marco Mansveld
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      62
      investors