Success Story
Memphis Koatsane Interview: Nedbank Pitch & Polish Top 8 Finalist
Memphis Koatsane Interview: Nedbank Pitch & Polish Top 8 Finalist
Memphis Koatsane Interview: Nedbank Pitch & Polish Top 8 Finalist. A total of 8 talented and innovative minds have made it to the top 8 of the Nedbank Pitch & Polish competition for the R1 million prize. One of the contestants that made it is South African entrepreneur and founder of Moonshine Reflective Spray, Memphis Koatsane. We took some time to speak to Koatsane and find out about his experience in the competition, the inspiration behind his business and his vision for the future. Check it out below!
What inspired you to create Moonshine Reflective Spray?
Due to alarming numbers of accidents that are caused by stray animals especially in rural and urban areas, I had a light bulb moment where I was able to invent a spray that makes livestock glow in the dark especially at night. Our main objective is to reduce or at-least avoid accidents caused by stray animals especially at night.
How did you develop the formula for the spray to ensure safety and effectiveness?
I had the pleasure of working with the Technology and Innovation Agency (Grass-roots Innovation Programme) which is under the Department of Science and Innovation. I was then granted the opportunity to work with a SABS laboratory to create my prototype to ensure that the product was non-toxic and harmless towards the animal fur of the animals.
What has been the community’s response to this innovation?
We have done an impact assessment over a period of 6 months where we collaborated with RAF in over 6 villages in the EC and KZN province where we have received amazing feedback from both motorists as well as livestock owners. We are looking to expand to other province in South Africa and neighbouring countries such as Botswana and Namibia where they experience similar challenges.
How do you see your spray reducing road accidents in rural areas?
Due to its high visibility at night and motorists being able to spot the animal from all different angles when headlights are on, we have managed to reduce the number of accidents in high accident zones by at-least 8% over a period of 6 months which is a great achievement and we would like to reduce that by 25 % over a period of another 6 months.
What challenges have you faced getting your product into the market?
We have had major challenges especially with regards to lack of resources, lack of information and more importantly lack of capital injection. A lot of livestock owners are illiterate and it’s always difficult to introduce and convince them that the product is safe and extremely easy to use with no side effects of fur of animal or rather the meat itself.
How has Pitch & Polish helped you refine your pitch and business strategy?
The Nedbank Pitch & Polish competition helped me sharpen my pitching skills through a structured learning experience. I’ve been paired with a mentor from Raizcorp, who provides me with guidance on strategy, finance, sales, and marketing.
Secondly, I also went through a 2 day intense mentorship programme where they mentored me and provides me with business guidance to ensure that I take my business to the next level
What has been the most rewarding moment of your journey so far?
Seeing my business grow and employing people from my community has been one of my most rewarding moments of my life.
Being a part of the Nedbank Pitch & Polish competition has also exposed me to so much business knowledge. Making it from the top 16 all the way to the top 8 and still competing with brilliant minds from different provinces and knowing that I am the only contestant from the North West, while I work with limited resources to achieve the end goal has been rewarding. I had the pleasure of being mentored by the best minds in the country from Raizcorp who are very knowledgeable has been very interesting.
How do you plan to scale production to meet demand nationally?
We currently have a space where we are able to own our production value chain, where we do our own producing and packaging of the product instead of outsourcing those skills. We managed to acquire a 4 in 1 Aerosol filling machine and air compressor to achieve this goal.
How do you balance affordability with ensuring top quality?
Quality has always been our main priority as we our with road safety, due to the fact that our product is a first of its kind in South Africa we have been able to provide an affordable product that lasts to a maximum of 5 months which gives value for money.
If you won the R1 million, what steps would you take to expand Moonshine Reflective Spray?
Moving to a bigger working space where we can employ at-least 5 youth would definitely be a start. Acquiring resins or chemicals in bulks from China as some of the resins within the formulation cannot be accessed anywhere in South Africa. Having 2 or 3 branches in other provinces will definitely make our product accessible in other provinces.
