South AfricaFoodeez
With EUR 51,000 Foodeez can hire 2 more people, purchase new equipment and acquire new projects to make a change.
€51,000
3.75%
6 months
6 months
EUR
Currency| Amount | €51,000 |
| Interest | 3.75% |
| Maturity | 6 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Foodeez is a obsolete stock solution provider that grew from a local project into a multi-faceted business that now operates on a national basis. Their mission is to prevent food waste by using obsoletes as resources for new products.
This allows them to help local manufacturers and retailers to minimize the costs that come with obsoletes, while at the same time, they are making food affordable for individuals battling to keep their heads above water.
They are determined to make a difference and minimize the negative environmental impact of dumping.
With funding provided by local partner Lulalend Foodeez hopes to increase their working capacity by employing 2 new employees, purchase new equipment and hopefully acquire new projects to make a change.
| Company name | Lulalend |
| CEO | David Bester |
| Founded | 2008-01-01 |
| Location | Cape Town |
| Sector | Manufacturing / Production |
| Turnover | €1,359,619.30 |
| Employees | 60 |
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 2 jobs are created
- With this investment 10 lives are improved
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We have already contributed to Foodeez
Derkjan van VeenGert BaasArjanne RietsemaJan OkkenRia Meyaard