Short Story

MySurfer

MySurfer, co-founded by Bongane Shabalala and Kamohelo Mzangwa, is an affordable internet service provider for students, offering packages as low as R250 for uncapped internet for a month. They partner with accommodation providers for students and install their access points (similar to a router) in communes and student accommodation.

They have been around for four years and have grown to R750000 in revenue and over 2000 students, from their humble beginnings of a single commune serving 10 students.

They Just landed the biggest provider of accommodation for students in Bloemfontein, which means they will need to install 200 access points in 175 properties. Earn R100 a month for the next 24 months when you buy an access point, that they will install in these properties, for R1500.

How It Works
  1. You contribute R1500 (or a multiple of it, maximum is R30000 for 20 access points) to this campaign.
  2. At the end of the campaign you become an owner of the access point which will be managed under The MySurfer brand.
  3. For the next 24 months, you will earn R100 per month, per access point.
  4. this will be paid out quarterly to you
  5. The entire payment process will be managed by The People’s Fund and Audited by SnB Chartered Accountants & Auditors ( Practice Number 966205)
  6. The People’s Fund will take 10% of the proceeds (or R10 per month) to administer this.
  7. You own the access point for two years and then it is passed onto MySurfer after this period.
Expected Returns

NB!! First & foremost, we need to declare that this does not constitute financial advise in anyway and that we have made our projections based on historical yields. Buying assets that will be run by a small business is risky and you should only commit money you are willing to lose.

The expected return for this project is R2400. Which means an annual return of 30%.

Put in the rand amount for the amount you would like to buy (Please ensure it is a multiple of R1500).

Own A Wireless Access Point With MySurfer

by Bongane Shabalala

  • R300,000.00

    Funding Goal
  • R219,000.00

    Funds Raised
  • 0 Days to go
  • Target Date

    Campaign End Method
Raised Percent :
73.00%
This campaign has been invalid or not started yet.
, South Africa

Bongane Shabalala

1 Campaigns | 0 Loved campaigns

See full bio

Campaign Story

Name Donate Amount Date
Yaseen Parker R15,000.00 February 28, 2018
Kenneth Dipale R1,500.00 February 27, 2018
Lengo Holdings R16,500.00 February 26, 2018
Jabulile Galawe R1,500.00 February 26, 2018
Xolile Mthembu R12,000.00 February 25, 2018
Thabo Maluleka R1,500.00 February 23, 2018
Gerhard De Jager R4,500.00 February 22, 2018
GEOFFREY BURTON R3,000.00 February 21, 2018
Zinhle Mthombothi R4,500.00 February 19, 2018
Lucas Mogashoa R7,500.00 February 13, 2018
Hlobisile Vilakazi R1,500.00 February 07, 2018
Paul Plantinga R3,000.00 February 07, 2018
Nompumelelo Khumalo R3,000.00 February 06, 2018
Mpe-mpe Monyane R1,501.00 February 05, 2018
Marvin Thobejane R4,500.00 February 05, 2018
Brownsense Stokvel R84,500.00 February 05, 2018
Mpho Baisitse R1,500.00 January 25, 2018
Jane Walls Hurwitz R4,500.00 January 24, 2018
Thabo Mashegoane R3,500.00 January 07, 2018
Shireen Motara R3,000.00 January 05, 2018
Akofang Kgomo R3,000.00 January 05, 2018
Ernest Mokotoane R1,500.00 January 05, 2018
Thulani Mbokodo R1,500.00 January 05, 2018
BrownSense Stokvel R46,500.00 January 05, 2018
Palesa Monahadi R5,000.00 January 03, 2018
Dumisa Barnabas R9,100.00 December 28, 2017
Busisani Lembede R10,800.00 December 26, 2017
Khotso Mavuso R1,500.00 December 23, 2017
Emma Byloo R1,500.00 December 18, 2017
Anthea Ambursley R1,500.00 December 17, 2017
Vuyo Klaas R2,700.00 December 16, 2017
Brownsense Stokvel R53,000.00 December 13, 2017
Charles Cracknell R25,800.00 December 13, 2017
Andrew Brown R3,000.00 December 06, 2017
Sharon Mthetho R24,000.00 December 04, 2017
Vusi Mabona R1,500.00 December 03, 2017
Nompumelelo Mabutho R1,500.00 December 01, 2017
Sibonelo Mbongwe R3,700.00 November 26, 2017
Karabo mashilo R3,000.00 November 26, 2017
Tracy CRICHTON R1,500.00 November 25, 2017
Naweed Khan R1,500.00 November 23, 2017
Dean Elson R1,500.00 November 22, 2017

2 reviews for Own A Wireless Access Point With MySurfer

  1. Sandile Sithole

    I am interested in understanding a few matters:
    • When I decide to invest/buy into one of campaigns that are on the go (MySurfer for example). When do I make the payment into your account and when do I start earning my R 90 per month (R100 less 10%)?
    • Have you guys looked at the tax side of things for the investor? The investor needs to have a clear distinction between income and capital repayment on all the money they ear during the 2 year cycle.
    • Can an investor be a company or do you only deal with individuals?
    • Are there BEE certification requirements for investing?

    And lastly, is there any way I could make the MySurfer ownership of an access point a more permanent solutions as opposed to the 2 years on offer? Can you speak to the guys at MySurfer about this or is just not an option?

    • admin

      Good day Sandile

      Firstly, apologies that it has taken this long to respond to you. Our system marked your comment as spam. We hope to serve you better in future. The answers to your questions:
      1. As so as you make put in the amount you want to contribute you are required to make payment. We take around a month after the campaign ends to install and execute on the purchase of assets on our platform. Then we pay you every 3 months post this. For example My Surfer ended February; the month of March was used for installation and the month June (April, May June would be the quarter) would be when you receive the payment for the three months (quarter).
      2. Yes we have, though each individual would need to talk to their tax consultant to see how this fits into their tax position. PS this is income and not capital gains. We will be looking at ways to make it far more tax efficient for people.
      3. Yes you can be a company or an individual
      4. No there are no BEE requirements for buying into one of our assets
      5. Currently for all campaigns it is not an option. But we will look at such means in future

  2. Tracy Crichton (verified owner)

    Just received my first royalty – well done guys this is a win for all keep going!

    • Admin

      Thank you Tracy!

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