INYOSI, a key player in providing capital for Black Economic Empowerment (BEE) entities, has announced its newest loan beneficiary: Cape Plumbing & Bathrooms PE (CP&B PE). This partnership highlights INYOSI’s commitment to empowering local businesses and fostering economic growth within South Africa.
Established in 2002 as Coastal Plumbing Supplies, CP&B PE has deep roots in the Port Elizabeth community, operating for nearly two decades. The company has significantly diversified its offerings, now providing exclusive plumbing ranges, fireplaces, and decking, catering to both retail and wholesale customers. Their dedication to quality product brands and superior customer service has solidified their competitive edge.
CP&B PE is spearheaded by Warren van Schanke, a qualified Chartered Accountant with extensive industry experience. He is joined by Nicole Le Roux, who recently became a shareholder and brings a wealth of sales expertise. This dynamic partnership has not only strengthened the company’s leadership but has also significantly improved its Broad-Based Black Economic Empowerment (BBBEE) status. With their diversified shareholding structure, CP&B PE is now a 100% locally owned business and a Level 2 BBBEE entity, unlocking considerable opportunities for growth, including access to government contracts and preferential procurement.
The company’s growth outlook is impressive, with plans for a new store in Port Alfred and a recently completed flagship showroom in Port Elizabeth, complete with a coffee shop. As part of a larger group with over 12 stores from Cape Town to Port Elizabeth, CP&B PE benefits from substantial buying power, allowing them to offer competitive prices.
CP&B PE chose to partner with INYOSI to fast-track their growth strategy. According to Warren van Schanke, INYOSI’s capital will be crucial for maintaining critical stock levels. This will ensure consistent supply for their dedicated trade counter, enabling trade customers to access the products they need without delay. Despite a challenging market, CP&B PE’s biggest hurdle has been keeping up with demand, a challenge INYOSI’s support aims to overcome.
Beyond business expansion, CP&B PE is actively committed to creating employment opportunities as they expand into new regions. Their partnership with INYOSI also makes them a valuable addition to the INYOSI Supplier Development Programme, fostering relationships with investors in the construction industry.
CP&B PE is also dedicated to staff development, evident in Nicole Le Roux’s progression to a shareholder role and Matthew Kafusani’s multiple promotions.
In terms of Corporate Social Responsibility, CP&B PE has a three-year sponsorship deal with Westering Junior School cricket, supporting equipment, transport, clothing, and branding.
They also sponsor Collegiate 1st team Hockey and recently assisted Gift of the Givers by donating seven bathrooms for a school upgrade.
The positive experience of liaising with INYOSI’s representative, Sihle Maneli, further underscores the efficiency and helpfulness that INYOSI brings to its partnerships.
INYOSI’s message is clear: if you are a fully black-owned business with a three-to-five-year track record, INYOSI is ready to fuel your growth.