Ola Superstores is a registered close corporation and it is 100% owned by Thamsanqa Ellenburg Manzi, he holds a Bachelor of Commerce in Business Management from North West University (NWU). After he completed his degree Thamsanqa ventured into numerous businesses where he gained a 12 years’ experience in business management. He sits in various boards as a director and as a Non-Executive Director .The business started to operate its two stores in January 2010 that is grocery store and cosmetics store. Mr. Manzi is assisted by his wife Portia Manzi who manages the cosmetic store on a full-time basis. The stores are located adjacent to each other at Bophelong Shopping Centre in Bophelong, Vanderbijlpark. The client has big dreams about His business especially his staff members.
In December 2012 the grocery store added two sections i.e. the butchery and hot foods. The owner invested money from the business proceeds to set up the two sections. The shift of funds had created a financial void for the business hence Ola Superstores approached GEP for financial assistance to purchase butchery equipment, catering equipment, stock for the entire business as well as cameras to improve security. This was verified by Post Investment all the required equipment’s were indeed bought.
Lack of enough stock
Load shedding crippling the business operation especially since the business does not have a generator. The generator is estimated between R250 000.00 and R450 000
The client plans to use the money won from the competition to order more stock and refurbish some parts of the shop.
TEA money was used to settle GEP’s loan
Grace Period facilitation
Facilitation of Service Provider Repayments
GEP facilitated Pick n Pay shop conversion