Splash Coatings Africa is on a mission to turn houses into homes one stroke of paint at a time, thanks in part to funding from Gauteng’s Township Economy Partnership Fund (TEPF).
The company is the brainchild of founding director Bonga Masoka, whose childhood dream was to build his mother a home. When Masoka’s mother passed away in 2012, he feels he kept that dream alive by now giving his clients that feeling of ‘home’.
“We are not necessarily in the business of selling paint. We are in the business of selling the feeling of a home, and [for that] there will always be a need,” Masoka says.
The company specialises in the manufacturing, retail and application of premium paint at an affordable price. The paint is created in-house using independent contractors and is then sold in owner-managed stores run by young adults. The aim? To provide quality paint at an affordable price.
“Coming from a rural village in the North-West, I knew that it was a cultural norm to always paint one’s home every year, and to a large extent the market didn't understand why,” he says. “But after doing my research, I found that the difference… is paint quality. But quality paint is not easily accessible because of price,” says Masoka.
As one of 200 township-based enterprises receiving support through TEPF, a partnership between the Gauteng Department of Economic Development (GDED), the Gauteng Enterprise Propeller (GEP) and the Industrial Development Corporation (IDC), Splash Coatings Africa is now looking to expand into other markets.
The company has established owner-managed stores in Midrand, Ga-Rankuwa, and Soweto with Soshanguve and Dawn Park still under construction to be opened soon.
Masoka says his company’s relationship with the GDED and assistance from the provincial government has enabled the business to “accomplish more than was possible before.”Splash Coatings Africa has also taken out a loan from GDED through the Gauteng Enterprise Propeller (GEP). The GEP provides various forms of financial assistance to small and medium-sized businesses. These loans cover microloans, growth loans, franchise loans, contract loans, and start-up loans. In addition to formal loans, the GEP offers grant assistance to small businesses that don't fit the requirements for a loan.While there are other players in the township paint market, Splash Coatings Africa has established its product quality through its success as a business.According to Mathopane Masha, the GDED’s chief director for Inclusive Economy, business owners like Masoka are helping to shape the future of the province’s outlook.“Our intention is to celebrate young township-based entrepreneurs who are contributing to the province’s re-industrialisation agenda. At the end of the day, what is important is that Masoka’s company and expansion has an impact in the township in the form of jobs and skills,” says Masha.For more information on how you can apply for TEPF click HERE, or visit https://www.gep.co.za/ to find out more about the Gauteng Enterprise Propeller. This post was sponsored by the Gauteng Government and produced by Adspace Studio.