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funding gap emerging markets
South Africa

Clothing Africa

  • Lulalend
  • Invest in a Financial Institution
  • + 41 other investors
  • With a loan of EUR 20,400 Cloting Africa can expand its business and realize a big partnership with the Maslow Hotel.

    €20,400
    Amount
    3.75%
    Interest
    12 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€20,400
    Interest3.75%
    Maturity12 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 2 hours on 10 June 2018.

      Summary

      Clothing Africa is a supplier and distributor of uniform and corporate clothing specializing in the hospitality industry. They have successfully established partnerships with some of the biggest hotels in South Africa. The business exists of 18 full time employees who are all closely involved in the process. From design board to cutting table, everything is produced in house. Most of their employees are internally trained. The company focuses on manufacturing in a sustainable manner, using only high quality and environmental friendly resources in their production process.

      After a quiet period in January and February, Africa Clothing is now busy preparing for a big partnership project with The Maslow Hotel for which they need funding to increase capacity. Hopefully this project will lead to more future collaborations.

      Local partner Lulalend provides this loan with a maturity of 12 months. 

      Company nameClothing Africa
      CEOMohammed Saloojee
      Founded2014-01-01
      LocationJohannesburg
      SectorManufacturing / Production
      Turnover€407,885.79
      Employees18

      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 Clothing Africa

      Frans Wittenberg
      Jaap Boersema
      Nettie Stougje
      Jacques van den Bosch
      Marc Sierink
      + and another
      41
      investors