As Phakamani Impact Capital gears up to celebrate crossing the R1bn disbursement milestone, two powerhouse SMME founders – Refilwe Mamogale and Annah Manugu – are proving why small business is big business in South Africa.
With R1bn now behind it, Phakamani Impact Capital is showing how enterprise development can move from policy promise to everyday proof in people’s lives. Since inception, the organisation has disbursed more than R1.03bn to 1,423 SMMEs, sustaining over 23,000 jobs with a 93% recovery rate on its loan book – a figure most financiers would envy.
For CEO Nick Janse van Rensburg, the billion-rand mark is a milestone that is more significant than numbers on a balance sheet. He believes is critical to tell the stories behind the figures. To show the real impact on small, micro and medium enterprises (SMMEs). To spotlight the courageous women and men entrepreneurs who take the risks and, if successful, not only improve the lives around them, growing their communities, but also bolster the South African economy itself.
“Every loan we’ve approved is more than capital – it’s a commitment to tangible growth. It’s the belief that small businesses aren’t just survivalist hustles, but engines of growth for communities and the country.”
This Friday, Phakamani will mark this historic milestone – R1bn in funding facilitated for South African SMMEs since its inception – with a celebration event, emceed by Gugulethu Mhlungu. It will take place on 19 September 2025 at The Garden Venue, Northriding, bringing together industry leaders and several handpicked SMMEs who will showcase their growth stories.
And as Phakamani prepares to showcase its entrepreneurs, two extraordinary businesswomen will step into the spotlight.
Refilwe Mamogale: Turning mining crews into high-performing teams
Founder of TsogoMath, Refilwe Mamogale is rewriting the mining manual with South Africa’s first underground crew rehabilitation service. Her business takes mining teams that are underperforming, fractured, or demoralised – and rebuilds them into cohesive, productive units that deliver both safety and efficiency underground.
Starting out, Refilwe used her entire provident and retirement fund to get TsogoMath off the ground. “I even moved out of my home and turned a garage into a cottage just to cut costs and make this dream a reality. I became an e-hailing driver to keep things afloat while the business was not generating any income.”
Her business, launched with zero income in 2022, hit R5m turnover by 2024 – and she’s only just begun.
“I didn’t wait for opportunities – I knocked on doors until they opened. But when those doors did open, I had to be ready. That’s where Phakamani made all the difference – they gave me the financial systems, the governance frameworks, and the business coaching to scale without stumbling.”
Refilwe’s work is focussed on improving productivity, of course, but with an innovative twist. She is also creating conditions for women to lead and thrive in mining, developing three new tools to facilitate women’s entry into the underground mining space.
With Phakamani’s support, she’s been able to hire locally, grow her professional team, and position TsogoMath as a trusted partner for mining houses seeking not just output, but safe, sustainable operations.
For Refilwe, though, it’s also about changing the face of mining.
“When women walk into underground spaces and lead crews to success, it chips away at old stereotypes. My dream is that the next generation of women doesn’t have to ‘fight’ to belong in mining – they just do.”
Refilwe has received numerous accolades including being a two-time finalist in the Standard Bank Top Women Awards. She also devotes her free time to mentoring and supporting other women to break into the worlds of entrepreneurship and mining.
Annah Manugu: Driving change in transport and beyond
Born in the village of Bapong near Rustenburg, Annah Manugu has defied convention in one of the most male-dominated industries in South Africa: transport and logistics. After starting her career in a joint venture in 2008, she was often the only woman in the room – managing finances, strategy and compliance while struggling to be taken seriously.
In 2021, she broke away to launch Mamoja Trading & Projects, a fully black woman-owned company that now specialises in transporting platinum concentrate, chrome, ore and coal across the North West and Limpopo mining belts. Today, Mamoja counts major mining houses like Glencore, Sylvania Metals and Eastern Platinum among its clients, with revenues having nearly doubled in just two years.
Annah attributes much of this growth to both her determination to “do transport the right way” – with rigorous compliance, safety and professional systems – and to the support she received through Phakamani’s ESD programme. Phakamani’s intervention helped the business increase its annual turnover from R13m to over R19m in just one year.
“Phakamani opened my eyes to diversification,” she says. “They helped me see opportunities beyond trucking – from leveraging our workshop to offering truck wash and mechanical services. That shift has strengthened my business and expanded my footprint in the industry.”
Passionate about women’s empowerment, Annah employs and mentors women in transport and has launched her own initiative, A re Direng Mmogo (“Let’s Work Together”), which trains youth and women with code 10 and 14 licenses while also addressing broader social issues like unemployment, GBV and mental health in the Marikana and Rustenburg areas. With awards ranging from the 2022 Youth Achiever Award at the Freight Awards to the 2024 Logistics Achiever Award, Annah is not only positioning Mamoja to one day become the world’s largest mover of platinum but also creating a legacy of safer roads and thriving local communities.
Beyond the billion
For Phakamani, the billion-rand milestone is only a marker along the way. With sustained backing from partners like Sibanye-Stillwater, the organisation is building an ecosystem where small businesses move beyond survival mode, and actually scale into sustainable and competitive corporations.
“We measure our success by the ripple effect,” says Van Rensburg. “One SMME funded often means ten livelihoods secured, a community uplifted, and a sector transformed. That’s the real return on investment.”
Event details
Date: Friday, 19 September 2025
Venue: The Garden Venue, Northriding
Time: 12:00 PM
For more information, or if you are a media professional and interested in attending this event, please contact:
Malerato Khabo: New business development manager
moc.snoitulosinamakahp@otarelam
011 439 3929
About us
Phakamani Impact Capital Group of Companies is a progressive holding company committed to revolutionising funding, training and development across industries. Through strategic investment, we empower businesses that equip individuals and organisations with the skills essential for success in a rapidly evolving global economy. Our portfolio spans diverse sectors, ensuring industry-aligned skills development that fosters innovation, economic resilience, and career growth.
