The Icebolethu Group is today a prominent financial services conglomerate of seven company divisions that together offer customers an all-encompassing funeral services offering. Much like a one-stop-shop for funerals, the business is able to take care of all funeral-related needs, from the tombstone and event catering to floral tributes, funeral policies and philanthropic requests. The Icebolethu Group even owns a private cemetery as part of its diverse product offering.
None of this would have ever been possible, however, if ex-educator Nomfundo Mcoyi hadn’t have made the bold decision back in 2008 to venture into the industry after identifying a gap in the local funeral business.
“I was motivated by the need for a reputable funeral service provider that caters for all and, as such, started Icebolethu Funerals – a funeral parlour – with a group of just five people in 2008. Through hard work, unwavering dedication and ambition, Icebolethu Funerals is now a very well established business, and continues to operate as the backbone company of the Group which now has 43 branches in and around the KwaZulu-Natal province.”
Icebolethu Funerals has even opened a branch in the United Kingdom to cater for the needs of South Africans and people from the SADC region living in the UK, says Mcoyi. “This cover offers funeral arrangements, whether it be in the UK or country of burial repatriation, catering and tombstone. It allows policy holders living in the UK to cover themselves, as well as those that are back at home.”
In the funeral policy business, Mcoyi explains that it is all about tapping into as many communities as possible. “Insurance is a numbers game and without numbers, a business won’t make money. Through aggressive advertising and marketing strategies, unique branding, and consistently excelling in our service offering, we have managed to capture a large portion of a highly competitive South African market and continue to capitalise on the growth within the funeral industry.
When asked about her future plans for the business, Mcoyi says she has her eyes set on Cape Town. “We’ve now captured the market in KwaZulu-Natal and have an international Icebolethu Funerals branch in the UK. My next stop will be Cape Town because I’ve studied the funeral business in the region and have yet to see anybody do what we do in terms of offering a holistic funeral services solution.”
Nomfundo Mcoyi is a finalist in the 2017 Entrepreneur of the Year® competition sponsored by Sanlam and BUSINESS/PARETNRS. For more information on her business, please visit the website: icebolethugroup.co.za