Boss Moves: Young Man Saves NSFAS Money to Start Own Business, Mzansi Showers Entrepreneur with Praise

Boss Moves: Young Man Saves NSFAS Money to Start Own Business, Mzansi Showers Entrepreneur with Praise

  • Tholulwazi Phungula is a motivated young entrepreneur who started his own business using his allowance from the NSFAS
  • Phungula started his business in 2019 but the journey has been challenging owing to Covid-19 and, now, increasing shipping prices
  • After a national newspaper reported on his story, Mzansi is impressed by the young man and finds him inspiring

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Tholulwazi Ta'Mlwazen Phungula had big dreams of starting his own business and creating job opportunities for his fellow South Africans. The wheels towards his goals were set in the motion in 2019 after he secured a monthly allowance from the National Student Financial Aid Scheme (NSFAS).

boss, entrepreneur, NSFAS, watch business
Phungula is hard at work growing his watch manufacturing business. Image: Sunday Independent/Supplied and Tholulwazi Phungula/Facebook
Source: UGC

The journey begins

In an article published by Sunday Independent, the 29-year-old received the funding after he registered at the Vaal University of Technology. He chose to save the money and use it to start a business. Now, in 2021, he achieved his dream and owns a business that manufactures watches, named Tholulwazi Reconciliator Phungula (TRP).

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Speaking to the Sunday Independent, the promising entrepreneur explained that he always wanted to start his own business and NSFAS gave him access to much needed capital to make his first batch of watches. His first batch cost R8 000 for 100 watches.

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Challenges faced

For most businesses, Covid-19 was a nightmare and affected income and even caused some to shut down. For Phungula's start-up, it affected his profits but this motivated him to try harder.

Now that the pandemic is easing, there is still another hurdle in his way. He says that shipping costs have increased significantly and TRP is struggling to make a profit. However, he remains positive and hopes to one day open a factory in the country to manufacture his watches and create employment opportunities for locals.

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Mzansi reacts

The inspiring young man shared the feature with his Facebook friends and received an encouraging response.

King Nkosi:

"Very impressive!"

Mthobisi MfokaMkhabela:

"I followed your story bruh, I'm very impressed."

Reitumetse Mofokeng Tumie:

"Wow, this is a real motivation."

Ameerah Cloete-Malinga:

"This is truly inspiring Lwazi, may your business succeed and grow."

Thabiso LD Mokoena:

"Inspired, keep up the great work brother."

Limpopo woman Sela Matsemela runs delivery business employing 10, SA inspired

In other news, Briefly News reported on a Mzansi entrepreneur who is leading the way and inspiring others through the magnificent strides she has made in the bread baking business.

The Limpopo-based trailblazer, Sela Matsemela, started her business Ramariz Bakery delivering bread on foot around Sekgakgapeng, a semi-urban rural township north of Mokopane on the N11 road in Waterberg.

Her inspiring story of also delivering using a wheelbarrow and bicycle has caught Mzansi's attention. Matsemela now owns small trucks and employs more than 10 people.

Source: Briefly News

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