The Vumela Fund, established by FNB Business and Edge Growth, today announced a new investment in TSK Interiors, one of South Africa’s leading black-owned commercial interior fitout and construction companies.
The funding is expected to help unlock additional liquidity to allow TSK Interiors to capitalise on larger and more resource-intensive opportunities in the market, with job creation being a direct result of more opportunities and larger projects across the continent.
TSK Interiors is an interior construction company in Johannesburg that specialises in building, shop-fitting, construction management, tenant installations, and furniture relocations. With over 11 years in the business, TSK provides quality services backed by a strong and capable management team. Key clients, industry certification and a track record of exceptional customer satisfaction, provide TSK with a distinct competitive advantage in the sector
“TSK has demonstrated resilience backed by strong performance in a construction sector that has historically seen negative growth since the 2010 World Cup. The strength of its management has proven that TSK is capable to continue to deliver quality services to its new and existing customers as economic recovery continues,” says lead deal maker at Edge Growth, Hitesh Dullabh.
TSK Interiors places massive significance on the economic empowerment of previously disadvantaged individuals and maintains its credentials in the advancement of these interests.
“This facility has come at a critical moment, and we at TSK are extremely pleased to be able to expand our continental presence and to upgrade our CIDB,” said Thuso Koboyatau, TSK Interiors’ CEO “We hope to create more jobs at a time when our people need it most. We are excited to continue investing in our communities and give back by providing employment and business opportunities that allow people to build successful lives.
“FNB remains deeply committed to transformation and the growth of SMEs. Through our Supplier Development initiatives, we are able to assist businesses such as TSK by providing access to growth capital, unlocking additional business value, and most importantly, enabling them to create jobs in the economy “, said Heather Lowe, Head of SME Development at FNB Business.
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The Vumela Fund was established in 2009 by FNB Business Banking and Edge Growth to help alleviate poverty in South Africa by creating jobs through supporting the growth of SMEs. Vumela has R654M under management, and to date has deployed R390M to many early-stage businesses, creating thousands of jobs, primarily for low to middle income individuals
Edge Growth is a leading SME and Venture Fund Manager, specialising in developing small businesses and creating jobs and real transformation by connecting corporates and entrepreneurs, growing SMEs by addressing their key constraints: Access to finance, markets and skills. Our offering consists of three services areas, designed to achieve maximum IMPACT:
ESD Strategy for corporates & building SMEs in their value chain
Investing in and growing SMEs through fund management
Scaling businesses to full potential through accelerator programmes