Phineas Mabuela | Mabuela Investments (Pty) Ltd
Programme sponsor: Vergenoeg Mining Company
“It has contributed positively to my business and I can’t wait to learn more”
Mabuela Investments (Pty) Ltd supplies the mining industry with steel, pipes, fittings and industrial valves. Owner Phineas Mabuela started his business because he wanted to escape poverty and gain financial independence. The creation of his business saw him coming up against a number of challenges. “I had no clear vision of what kind of business I wanted to run. I didn’t know who my target market was and that nearly pulled me down,” he explains.
Phineas was fortunate enough to be selected for a Vergenoeg Mining Company business-development programme. While on this Raizcorp-powered programme, Phineas learned valuable skills. “You need to know why your business is in existence. It’s very important that your personal values align with your company values,” he explains. “For sustainability, it is imperative that you are always hustling and that you do not rely on only one client,” he adds.
When the Covid-19 pandemic hit, Phineas expanded on his product offering in order to avoid relying on one income stream. “Even though we are known for supplying steel and valves, I identified a different opportunity for sales – I added sanitisers to the list,” he says. “Being on the Vergenoeg programme has been an amazing development tool that has empowered me both personally and in my business.”
In a thank-you message to his sponsor, Phineas says, “I am so privileged and humbled to have received this sponsorship from Vergenoeg. Thank you so much for this once-in-a-lifetime opportunity. I have learned how to run a successful business. I see growth day by day and I am making more profit than before. It has contributed positively to my business and I can’t wait to learn more. ”