Home

About Us
Shareholding
Board of Directors
Organizational Structure
Corporate Governance Statement
Products
General Business Loans
Agribusiness Loans
Achievements
FAQ's
Gallery
Contact Us

MISSION
“To support inclusive national economic growth
through the expansion of sustainable access to
financial services for Swazi entrepreneurs and the
general population by helping them to be innovative,
be growth driven and ultimately improving the quality
of life for all”.

VISION

“To position ourselves nationally as the leading

provider of development finance and other support
financial services which directly contribute to national
economic development”.

PURPOSE
To economically empower Swazi Entreprenurs through
the provision of accessible and sustainable financial
services.

Downloads

Fincorp Brochure
Audited Annual Financial Statements
Annual Reports

Vacancies

Currently No Vacancies.

Policies

Environmental Compliance.

Enquiries

Please send us your enquiries

Email:
Subject:
Message:

Send Enquiry

Where We Are

You are here: Home FINCORP BEKETELA BLOCK YARD

BEKETELA BLOCK YARD

Background

Running a business is every man’s dream and for many turning that dream to reality has been impossible. For three
gentlemen that were working in a block yard, the dream was farfetched, until they were given an offer they could not resist.
Mr. Dlamini, Mr. Shongwe and Mr. Msibi had been working for A & M Block yard performing different tasks. Never in their
wildest dreams did they ever think that they would one day own a block making and distribution business. Towards the end of
2003, the Director of A & M block yard informed them that he was selling the business and he wanted to give first preference
to his employees. This was an irresistible offer and it also meant sacrificing their terminal benefits for them to acquire the
business. Other employees thought it was a risk not worth taking as such only the three out of over twelve employees made
the bold decision.
The directors faced a lot of challenges during takeover but they never gave up.

Finance

“Operations resumed as soon as the takeover was concluded. We didn’t have enough material and cash flow to satisfy the existing clientele, to an extent that we were
compelled to approach a financer for a loan. The loan was for working capital as well as the purchase of a truck. We went to FINCORP, who willingly granted us our
first loan and consistently monitored our business and mentored us in the process. The mentoring was a huge benefit to us since we were new in business and lacked
the necessary managerial accumen of running a business.” Mr. Dlamini states.
With the truck and sufficient stock the business was able to meet its client’s demands. Beketela Blockyard eventually failed to cope with the demand when it
increased. “With the advantage of having a Credit Officer that monitored us closely, we were advised to apply for another loan which would enable us to meet the
demand as well as to manage the cash flow problem that was also caused by late payments from large companies that we had supplied with blocks.”
Beketela Block Yard has always made it a point not to miss a loan repayment installment as such creating a good credit record with their financier. Mr. Shongwe is
quoted as saying that they would sometimes sacrifice their salaries than to default on an installment. As we speak, they have been granted three loans in succession
which are well serviced.

Product

Beketela Block Yard supplies building blocks of every size and they 0pride themselves in the quality of their product which has drawn a huge number of clients to
the business, particularly reputable construction companies.
In addition to the block making they also sell different types of sand. The most common sand include river sand and plaster; as such the sale of these types of sand is
very high in comparison to others such as; gravel, top soil as well as crush dust and crush stones.

Beketela Block Yard also offers delivery services. Owning two trucks places them at a competitive advantage since they are able to make prompt delivery for blocks
and the different types of sand.

Market/Clientele

Being in a highly competitive industry has not affected their ability to grow as a business. This has mainly been through the provision of quality products that are
always available as well as ensuring that they provide excellent customer service.
Beketela Block Yard mainly supplies local construction companies as well as the general public that has construction projects in and around Mbabane. They have
established a good relationship with the construction companies by ensuring that ample stock is available as well as through the provision of flexible terms for their
long standing reliable clients.

Financial Independence

“Running our business has had a positive financial impact in our lives. We are currently not leaving lavish lifestyles but are very happy and content with our
financial status. The difference between now and when we were still in fulltime employment is that we are now able to provide adequately for our families basic
needs without a challenge and we are however careful to separate the business from domestic needs.” Mr. Msibi states.

“We earned very little whilst still employed, and due to our family commitments we ran out of money before the next payday. We were then compelled to walk home
since we sometimes could not afford bus fare and if urgent family matters exhausted the little salary we had before rent was paid, we would find ourselves
negotiating rental payment terms with the landlord. That is now a thing of the past and we are now homeowners and proud parents that pay our children’s fees
timeously and we believe that one day when the business has grown we will then afford to buy ourselves personal cars.” They state.
The business has also enabled the establishment of another block yard that is currently managed by one of the directors and the new venture is still at its infancy
stage.

“Running a business has not been an easy task, and it has taken a lot of hard work, patience and sacrifice to get to where we are today. Also contributory to our
success is the fact that we are hands on and supervise the different business operations ourselves” says one of the directors.

As a word of encouragement to other entrepreneurs the directors of Beketela Block Yard say it is patience, determination and hard work that will pay off
at the end of the day.

Copyright © Fincorp 2012. Wesite Designed & hosted by Real Image Internet. All Rights Reserved.