By Noxolo Majavu
The goal of painting as much color as possible in as many lives is what inspires a paint company owner to manufacture more premium coatings for homes and businesses around the continent.
Bonga Masoka, the founder of Splash Coatings Africa, launched the company in 2017. This was after he was presented with an opportunity to acquire a set of paint formulations that had been researched and developed for almost 15 years aimed at finding the perfect balance between quality and sustainability.
“Since I couldn’t afford to build my own factory, I began as a paint reseller. I would find clients, sell the paint at a margin, buy it from the research and development company from which I purchased the formulations, and then deliver it to the client. After recognising the market opportunity, I decided to register the company as Splash Coatings Africa,” he told Vutivi News.
Masoka previously studied politics, public policy, and administration at the University of Cape Town. Before that, he had a short stint at a FET college, where he studied graphic design, sculpture and painting.
He started with two products in different lines of wall coatings. Today, they have expanded to seven lines, including roof paint, water-based enamel, sealants and waterproofing paint, plaster primers, and wall and ceiling paints.
“The market is receiving us very well considering we are one of the fastest-growing brands in our industry. In addition to our two stores in Soshanguve and Soweto, we are now available on Takealot and are slowly gaining recognition and support. We have also begun attracting the commercial sector, with two properties owned by Growthpoint already using our products,” Masoka said.
Splash Coatings Africa caters to a variety of clients including modest RDP houses, luxurious residences, and a R650-million commercial property.
When the business started, it was self-financed from the creation and branding of packaging materials to building the factory and acquiring a commercial vehicle.
“We later received assistance from the National Empowerment Fund (NEF) and Gauteng Enterprise Propeller (GEP) for expansion, which enabled us to procure the current light industrial mixers we are using and to build the two stores from which we are trading in Soshanguve and Soweto. We are now in the process of raising additional funding in the retail market for further growth,” Masoka said.
When asked what drives his passion, he responded: “Security for my family and [the] team. The goal of painting as much color as possible in as many lives as we can across the continent, having resources to invest in other young potentials, [and] positioning the Splash Coatings Africa brand among the top five in the South African paint industry.”
Masoka also added that they have been their turnover by more than 70% per annum. However, realising profitability at this stage of the business was difficult, which was usual with enterprises in their growth stage.
“In addition to this, like most other small businesses, we have faced capital challenges, difficulties in attracting and affording the right skillset, and having sufficient resources to create, sustain, and exploit growth opportunities,” he said.
“We have introduced Savings Cards in the market to promote the concept of formally saving towards home improvement and painting efforts. Additionally, we are now featured on Takealot, among other achievements,” Masoka added.
