Boutique B&B in Rustenburg ‘beds down’ for further success with new investment

This 100% Black-owned and managed establishment has benefited from a R3.15m investment from the Royal Bafokeng Holdings Kgolo Enterprise and Supplier Development (ESD) Programme supported by Edge Growth.

Carol Maithufi, co-founder at TshiBerry

TshiBerry founders and entrepreneurs Carol and Innocent Maithufi say that the funding application process was smooth and has taken the business to new heights. Plans they had made to grow the business were accelerated and allowed to flourish because of this investment.

These plans included increasing their room capacity and dining facilities, which has enabled TshiBerry to capture more of the corporate and group booking market, potentially transforming it from a small to medium-sized establishment in the area.

The funding has also created formal employment for three more local Bafokeng staff and will further stimulate growth and create sustainability for the business through diversified service offerings and a broader customer base.

Noluvo Nela, investment principle at Edge Growth, says that the deal team gained valuable insights into the hospitality industry, particularly rural upmarket accommodation, through this transaction, with Carol Maithufi’s expertise and hands-on approach give them great confidence in the business's ability to execute the expansion successfully.

The Kgolo Enterprise and Supplier Development (ESD) Programme is one of several Royal Bafokeng Nation (RBN) SMME development programmes that aim to support quality and sustainable SMMEs. Targeted at Royal Bafokeng-owned SMMEs, the programme provides customised, life-stage appropriate business development support, through a partnership with small business development specialist Edge Growth.