Telkom Business - Afrikan Heroes

Telkom Business Launches Micro Lending Facility for Small Businesses

August 18, 2022

One of South Africa’s leading telecoms companies, Telkom through its subsidiary Telkom Business, has announced the launch of Telkom Lend, a new service to enable small businesses to apply online for funding and get an answer within 24 hours. Telkom says that Telkom Lend is an end-to-end digital process that means no paperwork, no long queues and no waiting for a response from a financial institution.

Speaking on the development, Sibusigo Ngwenya of Telkom Financial Services said that “Business funding from Telkom Lend will ensure that small businesses are able to scale and grow with fast funding without the need to put up any collateral.”

“This also means that businesses take control of their payments. With funding offers ranging from R20,000 ($1,200) to R5-million ($300,000) depending on monthly turnover, funding can be paid back over three to twelve months on a daily or weekly basis, depending on the business cash flow,” he explains.

Applications made through Telkom Loan are checked for eligibility with Telkom’s proprietary automated scoring model. The telecom says that this saves time and gives business owners a chance to focus on their businesses instead of filling in forms and standing in queues.

Ngwenya says it is not only the application that is handled quickly. “Money will be paid into the account once approved within 24 hours to use for various needs including expanding a business, purchasing equipment or renovating premises.”

Another benefit is that a business does not pay a penalty to settle the outstanding balance earlier, as it will instead qualify for a discount.

Businesses that apply for funding must have been in operation for at least six months with a monthly turnover of at least R30,000 ($1,800) and have a trade history of at least three months.

The telecom says that any business can apply, not only those that have a relationship with Telkom Business.

“Data is used to review the creditworthiness of businesses and speed up the funding process. The combination of technology and data analytics not only provides funding for businesses but is also driving financial inclusion while supporting economic growth,” Ngwenya concludes.

Those who may need more information on this are advised to visit telkombusiness.co.za/businessloans.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Why Broadband is Critical to the Success of Small Businesses

February 15, 2021

By Dumisani Bengu

In an age where a business is now largely conducted online, access to reliable and fast internet connection is now more important than ever. Due to COVID-19, supply chain systems and customer service have moved online, and business broadband is playing an essential role in making this happen.

**Dumisani Bengu is the Chief Operating Officer (COO), Telkom Business**

The pandemic has escalated the need for more SMMEs to embrace fast and reliable internet connection for selling their products, engaging with customers, marketing and communicating with suppliers and this is where business broadband comes in.

Business broadband may be considered more costly than home broadband on a rand and cents basis; however, it is cost-efficient and inexpensive when you consider the value-added services that often come with business broadband packages which are of great value for small-medium enterprises.

This kind of broadband is packaged with tools and instruments that are tailored for each enterprise that includes security features and various software packages that help protect company data against cyberattacks.

Through the fast internet connectivity provided by business broadband, small businesses can do daily transactions, sell solutions while providing business owners with cost-efficient and easy access to the digital economy.

Higher speeds

Compared to home broadband, business broadband offers higher speeds, creating stronger and reliable connectivity. Standard broadband consists of speeds up to 30 Megabytes per second (Mbps) and lower and it is found in technologies such as DSL and older dial-up systems.

Super-fast broadband speed can go up to 300Mbps from 30Mbps, a preferable speed for most businesses needing reliable and fast internet for normal day-to-day business. Ultra-fast fibre is the gold standard of broadband connectivity with speeds of more than 300MBps and some industry players can go up to 1G per sec.

Ultra-fast fibre should be considered by businesses largely in fields such as data science, digital ecosystems, eCommerce and others whose core products and value propositions are distributed digitally.

Innovations requiring high bandwidth and lower latency

Businesses push through a lot of data through broadband access and speed is imperative. As technology develops, there are a lot of solutions in other verticals, such as smart offices, distributed energy supply such as renewables, close circuit plant monitoring systems, etc and it is only a matter of time before they proliferate South African market and broadband speed is going to be a distinguishing factor.

Customisation

Business broadband users have other customer-specific solutions such as dedicated lines to your business which will not be shared with others in the area to avoid throttling the speed. Customers get a dedicated IP address, providing reliable access points when using tools such as VPN.

Through business broadband packages, one may also access multiple voice access points on your device, depending on the needs. It also provides voice access at competitive rates as IP voice is more cost-effective.

The challenges of setting up broadband in areas with little infrastructure

The lack of infrastructure in rural and remote areas presents a great challenge in terms of bringing strong and reliable connection to small businesses in such areas. Service providers have various challenges in setting up broadband networks in rural areas, including uneven terrain and sparse populations, among others. But these challenges can be addressed by actively engaging in government and private sector partnerships.

The future of business broadband

Broadband is a crucial driver of job creation and economic growth. The applications enabled by the Internet are especially important for small businesses because they have become crucial platforms for innovation in healthcare, education, entrepreneurship, and communications. Business broadband will play an important role in the future of business productivity, growth, customer service and customer experience.

Dumisani Bengu is the Chief Operating Officer (COO), Telkom Business