Monday 2019-10-21

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SMILING THROUGH INV NEEDS E7MILLION

By Mhlengi Magongo | 2019-01-13

Smiling Through Investments which was established in 2013 needs about E7 million to expand.

This was said by the company’s director Gcina Dlamini at Vulamasango High School during the Junior Achievement (JA) presentation to Billionaire Nathan Kirsh on Wednesday.

The director said the money would be used to purchase Farm equipment which will be used for the production and process stage.

The company which was legally registered in 2016 is located in a leased 29ha farm in Malkerns.

Dlamini said their main product is bean seed but they also produce beans for grain, green mealies, and vegetables.

The company is also interested in improving the technology it uses. Dlamini said technology has advance to a stage that it has become relatively hard for businesses to operate without improvising it. 

The director said the company wants to buy technological equipment like computers.

The director related that the company also needs to increase its working capital this year.

He said if the company can receive the funding it would be able to repay investment within a period of five years.

Dlamini expressed that the company could raise a profit of E1.4m in a period of one year.

He also mentioned that the company had potential to buy its own farm within three years of the five-year period if it were to receive the funding.

The company plans on dividing the 29ha farm in Malkerns to produce all their products at once.

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