Family and funding are crucial for success of Mozambique shoe store

Mozambican entrepreneur Franise Buela grows his business with help from Socremo

Franise Buela owns a shoe store in Maputo, Mozambique. “I have a long journey with my business,” he says. At first, he bought shoes and sold them to shops, but then in 2003 decided to stop being the middleman and open his own store. He also obtained an import-export license, so he could import goods directly to himself.

Says Franise, “I started with my wife,” who unfortunately passed away several years ago. He has two adult sons, however, who pitch in with the store. “There are times when I travel and my sons come to help, because they know the business. When I’m not well, the family comes to help too. Family means a lot,” he says.

Besides family, Franise credits his bank, Accion portfolio company Socremo, with helping grow his business. “If I look at where I am now, it’s because of Socremo. No other bank would give me a loan,” he says. He adds that Socremo even followed up with him after that first loan, asking him if he’d like to apply for another. “This made me feel proud because it shows I am a good customer, and I pay my loans on time,” he says.

“Through Socremo, I now have a car, a house, and my business,” says Franise. These are all part of the legacy he hopes to leave his own sons. “I want them to have a better life than mine,” he says. “I want to show the kids how to run a business so they can succeed in life.”

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