Opportunity Issue 108

News & snippets
Industry insights from the past quarter
Ithuba Valves develops innovative Butterfly valve
Ithuba Valves and Industrial Supplies has developed an innovative Butterfly valve equipped
with ranges from 1 000mm to 2 800mm (PHOENIX Butterfly Valve). Its features include
a dish disk that reduces the weight of the valve by 20%. The valve is able to handle
seven to 10 litres of fluid a second. Ithuba Valves and Industrial Supplies has gained a
strong reputation as a manufacturer of waterworks valves, being able to create valves
to customers’ specifications from its dedicated workshop and factory in Alberton. Ithuba
Valves and Industrial Supplies is the only Level 2 BBBEE company that specialises in design,
manufacturing, refurbishment, installation, removal and supply of waterworks valves.
Clients include Rand Water, Eskom, the Department of Water and Sanitation and Umgeni
Water. For the Mohale Tunnel component of the Lesotho Highlands Water Project, Ithuba
Valves designed and installed a wedge-gate valve that would last a lifetime.
Efficient stoves to combat climate change
Standard Bank has finalised an agreement to support The African Stove Company (TASC) with funding
for its South African operations. This carbon-credit project is designed to combat climate change and
simultaneously drive positive social outcomes in rural areas. The facility provides TASC with funding to
support its socially orientated projects. The company’s revenue stream is derived from selling carbon
credits issued in terms of emission reductions that will result from rural communities using about
680 000 cookstoves donated by the company to South African communities. The efficient stoves
reduce the amount of wood needed to fuel the stoves. This reduces the emission of greenhouse gases,
particularly carbon dioxide, and helps preserve biodiversity. Costs and cooking times are reduced, bringing
tangible benefits to communities. The dangers of cooking on an open fire are also avoided. TASC generates
carbon credits as a result of the reduction in carbon emissions from the use of the cookstoves and the
distribution of cookstoves is funded by the sale of carbon credits to companies that want to contribute to
combatting climate change and offset their emissions.
Swoop Funding lands in South Africa
Swoop Funding launched in South Africa in 2023, a strategic expansion made possible with the
support of Sage and Enterprise Ireland. Ciaran Burke, co-founder of Swoop Funding, expresses his
enthusiasm, "We are thrilled to introduce Swoop to South Africa, a country teeming with potential
and a vibrant entrepreneurial spirit. Our platform is designed to be a catalyst for positive change,
offering a lifeline to businesses facing financial challenges." Swoop connects businesses to a spectrum
of funding options, including loans, equity investment and grants. This holistic approach ensures that
businesses can access the right type of finance tailored to their unique needs, fostering growth and
sustainability. Among Swoop’s earliest funding successes is Growing Paper, a South African company
that produces handmade, biodegradable paper embedded with seeds.
Back row: Eimear Costigan, Wesgro; Austin Gormley, Irish Ambassador; Nicola Kelly, Enterprise Ireland SA.
Front row: Ciaran Burke, Swoop; Elricco Govindasamy, Sage; Alastair Woods, Swoop SA.
14 | www.opportunityonline.co.za