The funding supports the expansion of Fumani Holdings into a fully recognised Isuzu dealership in Westonaria, Gauteng. Structured as a blended debt funded facility with no equity dilution, the transaction is specifically designed to fund the establishment and operationalisation of the dealership while preserving ownership control.

The site, acquired from My Ride Motors, was non-operational at the time of purchase and carried no goodwill or stock value. As a result, the funding will be directed towards recapitalisation, inventory acquisition and ensuring operational readiness in line with OEM requirements.

Founded in 2011, Fumani Holdings has developed a track record in vehicle supply, particularly within the public sector across South Africa. The move into an OEM approved dealership forms part of a broader strategy to expand its role in the automotive value chain, transitioning from supply into fully integrated retail operations under the leadership of founders Sechaba Sephiri and Bafana Mathebula.

Isuzu Motors South Africa has formally licensed and supported Fumani to operate the dealership. This approval confirms the company’s entry into the OEM’s official dealer network and reflects confidence in its leadership and operational capability.

“This milestone marks a defining moment in our journey as a business. Transitioning into an OEM approved dealership has always been part of our long term vision, and with the support of the AITF and Isuzu Motors South Africa, we are now able to realise that ambition. We are excited about the opportunity to grow, create jobs and contribute meaningfully to the automotive sector,” says Alastair Hodgson, Department Executive for Dealer Development at IMSAf.

From a funding perspective, the transaction aligns with the AITF’s mandate to support participation in the automotive sector. Tshepo Rapudi, Chief Investment Officer of the fund, states, “This transaction reflects the AITF’s commitment to unlocking meaningful participation of black owned businesses in high value segments of the automotive industry.”

The R20 million package is structured across five targeted facilities, covering vehicle inventory, working capital, workshop tools and machinery, premises and establishment costs. This structure is intended to ensure the dealership is adequately capitalised across both immediate and longer term operational requirements.

Sechaba, Founder and Managing Director, has built and scaled ventures across automotive, equipment and industrial markets, with a focus on public sector engagement, partnerships and capital structuring. Bafana, also Founder and Managing Director, leads operational and commercial execution, with more than 15 years of experience in business development, market expansion and performance management.

Sechaba describes the transaction as a key point in the company’s development. “This transaction represents a deliberate step in our evolution as a business. Over the past decade, we have built strong capabilities in vehicle supply, particularly within the public sector, and this transition into an OEM approved dealership allows us to move further up the value chain and participate more meaningfully in automotive retail. The support from the AITF has accelerated this transition, but our focus remains firmly on long term value creation through building a scalable, well governed and financially sustainable business.”

Bafana adds that the next phase will focus on execution within a competitive environment. “Our immediate priority is to build a dealership that is operationally efficient, commercially disciplined and responsive to customer needs across both public and private sector markets. The automotive retail space is highly competitive, with increasing pressure on pricing and margins.”

The project is expected to retain 18 existing jobs and create a further 10 new positions, bringing total employment to 28. It is also projected to generate approximately R115 million in annual turnover and unlock around R578 million in market access over the next five years.