Lack of funding a challenge for aspiring entrepreneurs

Reading Time: 2 minutes

Access to funding remains one of the major stumbling blocks for aspirant business owners, many of whom have brilliant game-changing innovations that could solve the country’s challenges such as the energy crisis.

Some aspirant entrepreneurs in Mahikeng in the North West say they have been knocking on doors for several years without successfully obtaining funding.

One of them is 34-year-old Mpho Moloko who has invented a generator that does not use fuel.

“What makes this generator unique is the fact that it does not use any fossil fuels for it to operate. It also does not need you to charge it because when it works, it charges itself automatically. What I mean, it does not use any fossil fuels, I mean it does not use petrol, diesel or bio-gas to operate. The lifespan ranges between and 20-years without any maintenance. Should there be maintenance needed, we will be able to come do it as the company.”

Moloko added that with the fuel price in South Africa frequently rising and the load shedding seemingly far from ending. This could be a game-changer for many businesses.

“It could help a lot because at the moment, as a country, we are facing severe load shedding and sectors that are suffering from this are the private sector and other government institutions such as your clinics and schools. They suffer a lot because of this load shedding.”

Finding solutions for small businesses to unburden Eskom: