Oakantswe Construction Secures Funding via Abadali Equity Equivalent Investment Program
Oakantswe Construction and Projects, an electrical contracting firm based in Pretoria, has secured funding through the Abadali Equity Equivalent Investment Programme (EEIP), which is administered by Edge Growth.
Edge Growth’s Abadali Equity Equivalent Investment Programme (EEIP) has made an investment in Oakantswe Construction and Projects, a 100% black female owned and managed electrical contracting firm.
“This is an exciting opportunity to back a highly competitive black-woman-owned construction company in South Africa,” commented Edge Growth’s Alex Rodrigues, who helped seal the deal.
Oakantswe Construction and Projects, based in Pretoria, South Africa, specializes in electrical installations and renovations for commercial and industrial projects in Gauteng and throughout Southern Africa.
Tebogo Moloi, the founder of Oakantswe Construction and Projects, has managed to stay competitive by ensuring that the company is well-equipped to deliver electricity to any entity, from small households to large corporations.
The funding will create an additional 20 permanent jobs over the next five years as the company transitions from subcontracting to building an in-house team of qualified and dedicated electricians to meet the growing electrical contracting needs of clients across the country.
Moloi stated that working with Edge Growth has broadened her knowledge and provided key insights into areas of the company that require improvement.
Women currently make up only 1.4% of the non-administrative construction workforce in South Africa. This figure is expected to rise in the coming years as a result of pressure for a more balanced workforce and the need to meet skills shortages, creating even more opportunities for Oakantswe.
The Abadali Equity Equivalent Investment Programme (EEIP), launched in 2021, is a first-of-its-kind initiative by an international investment bank to provide short-, medium-, and long-term finance for businesses that are scaling and require growth capital over an eight-year period.
Edge Growth, a South African SME development specialist and impact investor, is managing the Abadali EEIP’s medium- and long-term commitments to create much-needed positive economic and social impact locally.
Oakantswe Construction and Projects aspires to be the go-to construction firm in their target market for black South African economic empowerment. Their expertise includes electrical installations, maintenance, and renovations, and they are dedicated to providing exceptional service quality.