Small Business Funding in Soshanguve

Small business in Soshanguve

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About Soshanguve

HISTORY

Soshanguve is a township situated about 30 km north of PretoriaGautengSouth Africa. The name Soshanguve is an acronym for SOtho, SHAngaan, NGUni and VEnda, thus showing the multi-ethnic composition of the population (Mashabela 1988:138). The major African languages of South Africa are heard in Soshanguve.

The acronym divided the Soshanguve residents according to their tribe when they were resettled from Mamelodi and Atteridgeville in 1974. While this was to make admin easy for the apartheid government, it left a community divided and suspicious of each other. More than 20 years later, there are still remnants of the past but there is integration of cultures. The people of Soshanguve arguably are the most multilingual of South Africans.

Tswaing, meaning Place of Salt in Setswana, is a 2000-hectare heritage site, some 40 km north-west of Central Pretoria, surrounded by settlements inhabited by more than a million people, such as Winterveld, Soshanguve, Mabopane and Eersterus.

KNOWN FOR

The Tswaing Meteor Crater. Tswaing, meaning Place of Salt in Setswana, is a 2000-hectare heritage site, some 40 km north-west of Central Pretoria, surrounded by settlements inhabited by more than a million people, such as Winterveld, Soshanguve, Mabopane and Nuwe Eersterus. It falls within the Gauteng Province, borders on North-West Province and is part of the City of Tshwane. The main features of Tswaing are a 220 000-year old meteorite impact crater (100 m deep and 1,3 km across), a wetland (marsh) area, a variety of ecosystems and the remains of a factory that produced soda ash and salt. In geological terms, the Tswaing Crater represents one of the youngest and best-preserved small bowl-shaped meteorite impact craters in the world. It used to be known as the Pretoria Saltpan.

ECONOMY

Soshanguve is known for being extremely close to very affluent areas, yet the majority of those living in Soshanguve are extremely poor, and the graph below provides an indication of the percentage of Soshanguve”s population earning between various income groups. And as can be seen from the graphic a large proportion (roughly 17%) of Soshanguve’s population earns absolutely no income. And only 3% of SOWETO’s total population earns more than R307 600 a year. 

SOSHANGUVE BUSINESS FACTS:

South African Airways moved its head office

Moolman Group, Resilient Property Income Fund and Falcon Forest have partnered to develop the 39 000 m² mall in Soshanguve. The strategy around Soshanguve Crossing was to bring a full bouquet of national tenants to Soshanguve and showcase them in an upmarket environment offering the community a regional shopping experience with no compromises. In terms of location, the mall is ideally situated with high visibility and easy access from the busy intersection of Ruth First and Aubrey Matlala Roads.

Soshanguve Crossing is anchored by Game, Shoprite, Superspar and Edgars. These established brands are complemented by a line-up of national tenants such as Mr Price, Sheet Street, Clicks, Ackermans, Pep, Jet, Legit, Milady’s, Identity, Truworths, Sportscene, Markham, Exact, American Swiss, Side Step, Sterns, Shoe City, Rage just to name but a few. In addition to this comprehensive offering, Soshanguve Crossing also houses a number of fully-fledged banks including Standard Bank, Nedbank, Capitec, Old Mutual Bank and First National Bank.

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