Next month, the proprietor of the well-known Soweto diner Sakhumzi Restaurant will start a major insurance company.
The decision to launch the project was prompted by what he says as “a need to provide township businesses with adequate short-term coverage to protect black businesses from catastrophe in the event of any emergency, no matter how small.”
Sakhumzi Maqubela, the restaurant’s creator and proprietor, stated, “There is no turning back; the diversification process continues.” We have conducted a feasibility analysis and believe we know what to expect. We are enthusiastic about the undertaking.
His commercial empire includes, among other things, a fueling station, a panel-beating facility, and Sakhumzi Stokvel. His first passion is the restaurant on Vilakazi Street in Orlando West, which is a popular tourist destination.
“Observe the Durban shops that were wrecked by the floods. The occupants lost their homes and pricey electrical goods, and years of collected riches, in whatever form, were wiped out in a single blow.
“What would you have to live for if you did not have a short-term insurance policy when your assets, worth millions and built over many years, are destroyed by floods and rioters?
“Climate change is not a scare tactic of the West. It is genuine; it has impacted numerous black companies and homes.
“We have witnessed floods in Johannesburg and throughout the country destroy our valuables.” All of us must avoid not having dependable insurance coverage. We must safeguard our assets as effectively as possible. Not doing so invites calamity.
“That is where we see ourselves going, thus the February launch of our insurance company,” he explained.
Regarding the Durban riots of July 2021, which expanded to different parts of the country, including Gauteng, Maqubela stated, “South Africa is becoming increasingly susceptible to catastrophic occurrences. If this is true, and we know that it is, then we must all safeguard our homes, companies, technological devices, and other valuables.
“The upcoming South African insurance company Sakhumzi intends to provide a solution,” he stated.
“Black people have experienced severe indignities, been cheated, and lost millions due to unscrupulous dealers who fail to clarify the fine print in full. The fine print is used to deceive individuals without fully explaining the terms.
“We plan to be an answer to these exploitative tendencies, to help clients make informed choices through the principles of honesty.”
When asked which corporation will provide financing for his business, Maqubela replied, “We do not wish to get ahead of ourselves.” Needless to say, a respected entity will assist us in achieving our aims.
“Once established, we will approach every household and business in black neighborhoods with a first-rate business proposition.”
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