Meet the entrepreneurs blazing a trail in insurance

BY THANDI SKADE

Co- founders of Kunene Makopo Risk Solutions, Dumi Makopo and Siyanda Kunene,
are striving to grow their business into the biggest black Brokerage in South Africa

After completing a Bcom in insurance, Risk Management and Economics at Wits University, Dumi Makopo
cut his teeth at Hollard before treasury offered him a job as a senior financial analyst. He spotted a gap in
the market for an insurance company that caters specifically to the low-income market and black owned
business.

He was later introduced to Siyanda Kunene, who has a background in accounting, and the pair decided to
partner to launch Kunene Makopo Risk Solutions in 2006.

Pioneers of change
In a sector that is dominated by multi-national companies, the co-founders initially found it challenging to
Secure clients and establish a name for themselves.

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“In the beginning, we complained about the unfair market and structural racism in the sector, but we quickly
got over it,” explains Makopo. “We played to our strengths and focused on delivering to the few clients that
were willing to give us an opportunity. We decided not to play according to industry norms, but to be more
client-focused. We concentrated on developing new products for our clients through a consultative process.”

The pair later hit found themselves in a bind when they were unable to pay the rent for their office.

“Losing the space forced us to learn some hard lessons and it turned out tp be a blessing. We were forced to
Work out of our cars and being in such an unstructured environment pushed us to be creative. We spent
More energy on creating leads, taking on new challenges and putting our plans into action,” says Makopo.

The business partners became more accountable, solution-driven and creative in researching the clients
The wanted, finding gaps in the service their clients were being offered and seeking new methods to add
value. Over the years, the company has grown originally and it currently comprises 80 employers, with
offices in Cape Town, Newcastle, Durban, Ermelo, Thohoyandou and Johannesburg.

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The business is contracted to three major unions with membership nationally and it has commercial clients
Who are across South Africa’s nine provinces.

Forward-thinking
Looking ahead, Makopo and Kunene aim to establish a national presence and provide financial services
throughout Africa and they believe they are in a right track to achieving their goals.

What advice do they have for aspiring entrepreneurs? “Do not be afraid to fall. When you have identified
what it is that you want to do. stay focused, ignore the noise around you and stick to it. Success takes time,
so be patient and give it all you’ve got!”

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