South AfricaKhonology 2
With a second loan of EUR 61,000 Khonology will be able to offer more business solutions to companies in Africa.
€61,000
3.75%
12 months
6 months
EUR
Currency| Amount | €61,000 |
| Interest | 3.75% |
| Maturity | 12 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Started in 2013, Khonology is a technology services company that provides world class business solutions with the vision of empowering Africa’s businesses and people.They look after banks, financial services companies as well as insurance houses. Providing them with: people, tools and acceleration bespoke services. Khonology currently has 89 full time employees and 40 contractors. In 2018 JAGRiders receive a special visit from Michael Roberts, (CEO) Khonology, to announce he and his company will be backing them and help grow the programme at Bergsig Primary school through his sponsorship.The Khonology sponsorship allows the JAGRiders programme to fix and maintain all it’s bicycles, provide upkeep and upgrades to the Bergsig Track, assist in providing transport to events with specialist trailer hire, and grow the capacity of the programme, creating increased impact.
With the credit facility provided by Lulaland, Khonology was able to have immediate access to funds when they needed money.
| Company name | Lulalend |
| CEO | Michael Roberts |
| Founded | 2013-01-01 |
| Location | Rosebank, Gauteng |
| Sector | Services |
| Turnover | €3,257,762 |
| Employees | 129 |
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 4 jobs are created
- With this investment 16 lives are improved
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We have already contributed to Khonology 2
Joop SingelingJacques van den BoschJan van MunsterEls MolPiet van der Kooi