Inyosi Empowerment is excited to announce the successful partnership between Inyosi Enterprise NPC and the 87% black-owned entity, Rentoza. Established in 2017, Rentoza is a subscription-based e-commerce platform which provides their clients with access to appliances and electronics on flexible terms.
Rentoza was founded by Avinesh Reddy, Aviraag Ramdhani, Chris Govender and Mishaan Ratan, all of whom play an active role within Rentoza. The co-founders enjoy over 55 years of collective experience in strategy, technology, finance, operations, sales and marketing. This group of friends have created Rentoza whose business model drives access to premium products at affordable rates and on flexible terms.
Rentoza’s innovative solution is a safe and secure online platform allowing consumers to subscribe for products for a specified duration. The safety and integrity of the platform is upheld through a rigorous vetting process. The vision of Rentoza is to transform the way South African’s consume and interact with products. With the provision of access to products, Rentoza is indirectly enabling consumers with the means to achieve a better quality of life.
We live in a technologically driven world, where technology has become such an essential and vital part of our lives, from electronics such as our cellphones, televisions, and laptops to the appliances we use daily, such as refrigerators, stoves, and microwaves. However, with the ever evolving and competitive electronics market, finding these high-tech products tend to be quite costly and not easily accessible. It was through this gap in the market, that Rentoza found its market and decided to delve deeper and not limit themselves to just electronic technology and appliances, but also offer a subscription based solution for consumers to acquire gaming consoles, exercise equipment and baby goods. Rentoza has created an innovative business solution with the aim of providing South Africans with easy access to these products in order for consumers to live prosperous and progressive lives. This business concept is unlike any other, and extremely convenient and life changing for those individuals who are not by the means of acquiring highly priced goods.
Rentoza believes that people of all backgrounds and salary brackets should enjoy access to the best and newest technology, without having to extend themselves outside of what they can afford. Over 20 million South African consumers are unable to afford these essential goods. Rentoza allows consumers to access these essential items through affordability, flexibility, and convenience.
Since the establishment of Rentoza, consumers who previously could not access essential items such as cellphones and laptops can now do so through Rentoza’s term-flexible subscription model. In addition, the establishment of Rentoza has contributed to economic development, as their subscription model minimizes capital costs for businesses, allowing them to direct capital, previously towards fixed asset purchases, now available to drive economic development and contribute towards job creation.
Rentoza has requested loan funding, which will be used to refinance pre-existing expensive interest-bearing debt from outside parties. Along with that, Rentoza will allocate some funding for the addition of inventory, which will further drive growth within Rentoza.
Inyosi Empowerment has more than a decade’s worth of experience in facilitating Black-owned businesses, with access to capital, markets and skills. With over R900 million used to aid more than 300 black-owned businesses, Inyosi has helped many businesses adapt to the ever-changing economic situation, assisted the development of many business owners skills, all while providing competitively priced funding, agreed matched grant funding and access to our inhouse web-based preferential procurement portal, www.iHive.co.za – providing them with access to our over 500 investor companies.
In commemoration of a decade’s worth of loan funding and pushing the envelope for black-owned SMMEs within South Africa, Inyosi Empowerment has launched an exclusive business loan funding competition, whereby one black-owned business could win an interest free loan of up to R5 million. This competition is aimed at celebrating the positive impact loan funding can have on the growth of SMME’s and how this in turn spurs on job creation and economic growth in South Africa; much like the domino effect, but more specifically the “Inyosi domino effect.”
To find out more about Inyosi Empowerment and their exciting business loan funding competition, please visit: www.inyosi.co.za/borrowers/competition/
