A drop in the ocean of noncompliance.
That is how Pule Moekoa – winner of the Southern African Institute of Business Accountants (SAIBA)’s Practice of the Month for October – sees himself.
Through his accounting and consulting firm Drop Financial Consultants, Moekoa is determined to help small businesses become compliant and grow their businesses.
Already, Moekoa has achieved a lot since he had a dream of becoming an accountant while still at school.
While at school in Clocolan, he sold apples in his neighbourhood on his way to school in the mornings to help support his family.
He was also a creative thinker who tried to find solutions to problems, one of which was the mandatory six arch lever files that pupils had to have, but at R24 per file were unaffordable to many, including Moekoa.
Using container boxes, wooden tomato crates and elastic bands, he fabricated files and sold them at R5 per file to other pupils.
After graduating at the top of his class, his teachers “dumped” him at Vaal University of Technology to study cost and management accounting, and later also public management accounting.
While at university, Moekoa again displayed his entrepreneurial skills by helping other students with their assignments in exchange for meal cards and in the hope that they would become future clients.
After he completed his studies Moekoa returned to the Free State town of Ficksburg where he joined the local municipality as an asset clerk and later a local economic development clerk to gain experience as part of realising his dream of having his own accountancy firm.
While working at the municipality he recognised his future market within the informal business sector.
After seven years with the municipality Moekoa started his firm, called Dr. Entity at first, in 2011 at the age of 29.
Through his own firm Moekoa could help informal vendors to register formal businesses and helping them to become compliant which enabled them to get contracts with the municipality, get funding for growth and securing succession for their families.
But disaster struck when he lost all his computers in a robbery.
He had nothing left and decided to move to Soweto where he decided not to give up on his dream. He started searching for mentors and in 2015 found one in Allon Raiz of Raizcorp which helps entrepreneurs to grow their businesses.
After two years of incubation and Raizcorp’s assistance in getting him sponsorship through Kagiso Tiso Holdings’ supplier development programme, as well as with support from the Eskom Foundation, Moekoa restructured his firm with the help of a non-executive board assigned to him by his sponsors and opened offices in Sandton.
Moekoa says he also values his membership with SAIBA and the learning opportunities it offers his firm through CPD courses and other information. He currently holds the designation Business Accountant in Practice (BAP(SA)) from SAIBA.
He says with all the assistance from Raizcorp, Kagiso Tiso and SAIBA he has changed his practice from ordinary to extraordinary by assisting clients with wealth strategies, such as using three bank accounts for different purposes and having money available for future purposes.
But for Moekoa, this is only the start of a much bigger dream that he has – to take Drop Financial Consultants internationally to the stock exchange, and plough the profits back into the education and entrepreneurial development of South Africa’s youth.
Given the road he has travelled thus far, no dream is too big for Pule Moekoa.