Nedbank Business Accelerator with 702

Makwande Auctioneers puts business assets under the hammer

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Business Accelerator finalist Makwande Auctioneers is an auction house which specialises in business-to-business (B2B) auctioneering.

The business auctions off obsolete assets such as manufacturing equipment and manufacturing by-products, explains business growth specialist Pavlo Phitidis.

Makwande Auctioneers is a young, black and female-owned.

Phitidis says Makwande Auctioneers founder Nobantu Mtimde is a determined and driven entrepreneur.

Mtimde says she was exposed to the asset disposal industry while working for another company and decided that she could add a new perspective.

Phitidis advises that the business needs to find good quality stock and make regular deals in order to grow.

The longer Nobantu sticks at this, the deeper she understands the value chains and the more the intellectual property and relationships build.

Pavlo Phitidis, business growth specialist

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