Many small businesses within the waste management sector in South Africa are thriving, creating employment, driving environmental sustainability and bringing innovative tailored solutions to specific communities. One such company is Bomamba Trading – a team of young entrepreneurs who are dedicated to making a meaningful impact in waste management.
Established in 2014 by Bongane Nkosi and headquartered in Randfontein, Johannesburg, Bomamba specialises in the handling of general and hazardous waste, as well as scrap collection. What started as a business collecting waste oil from mining, has grown to one which supplies skip bins for efficient waste handling, conducts high-pressure clean-ups, provides underground sanitation solutions, offers biodiversity management through alien plant control and handles a wide range of waste materials responsibly to safeguard the environment and meet compliance standards.
Although Bomamba Trading has already been operating for 11 years, the company recognised the need to enhance its client service and expand its geographical reach in order to grow and become more competitive.
Because they are a local SME operating within the host community of the South Deep mine, operated by Gold Fields, Bomamba qualified for funding from the Gold Fields SD Fund. This Fund, managed by Edge Growth’s Action ESD Fund, supports sustainable socio-economic development and local business growth within the mining concession.
With nearly R 5,500,000 in debt financing secured, Bomamba was able to grow its vehicle fleet with a new truck as well as acquire heavy-duty machinery to be able to manage larger volumes of waste more efficiently, unlocking 12 job opportunities particularly in the Rand West local host community.
“As a well-established entity within the waste management sector, Bomamba Trading has demonstrated a tremendous ability to deliver exceptional customer service to its blue-chip clients, as shown by the positive growth trajectory which it continues to display,” says lead dealmaker at Edge Growth Fana Mnguni. “The success of the business is also a testament to the technical abilities of the team led by an astute entrepreneur”.
This financial year, the Edge Growth Action ESD Fund managed over R212m and continues to be a powerful catalyst for SME development, job creation, and community empowerment, just as it was for Bomamba Trading.
Edge Growth is a leading SME development specialist and venture fund manager, specialising in developing small businesses and creating jobs and real transformation by connecting corporates and entrepreneurs, growing SMEs by addressing their key constraints: Access to finance, markets and skills. Our offering consists of three services areas, designed to achieve maximum impact:
- ESD Strategy for corporates & building SMEs in their value chain
- Investing in and growing SMEs through fund management
- Scaling businesses to full potential through accelerator programmes
Go to www.edgegrowth.com for more information.
