Lotty Nkosi is a single mother with three children. She was initially afraid to take a business loan from Phakamani but finally decided to start with a relatively small loan of R800. She makes curtains and doilies and buys and resells clothes.
Lotty has taken several loans from Phakamani over a five-year period and has been able to establish her business. She made R2000 of profit from her first month. Her options were to decide if she should save, pay off, or reinvest her money. Thanks to the initial support received from Phakamani her business no longer requires loan capital. Lotty says that her biggest challenge is when people buy on credit and don’t pay.
Because of her experience she has referred many friends and family to Phakamani. Those that joined Phakamani are now running their own businesses and can take better care of their families.