A New Era of Financial Empowerment
We are a credible financial institution and a catalyst for community transformation.
Our Story & Our Purpose
Black Capital Credit Union Cooperative Limited is a registered financial cooperative under Section 1 (k) of the Cooperative Amendment Act 6 of 2013. Its medium to long-term objective is to be licensed as a Co-operative Financial Institution under the Co-operative Banks Act 40 of 2007. It is a member-owned, community-focused financial cooperative based in KwaZulu-Natal, South Africa. Established to serve the financial needs of individuals and small businesses—our primary mission is to promote financial inclusion through accessible savings and loan products.
Rooted in the principles of mutual support and shared prosperity, we offer competitive interest rates and tailored financial services designed to meet the unique needs of our members. Our cooperative model ensures that all profits are reinvested into the organisation to benefit members, foster sustainable growth and drive long-term community impact.
The Challenge We Seek to Address
Many individuals and small businesses in KwaZulu-Natal and across South Africa, face significant challenges in accessing fair and affordable financial services. Traditional banks often impose rigid credit requirements and high interest rates, excluding a large segment of the population from formal financial systems. This exclusion limits opportunities for funding education, home improvements, or launching small enterprises—key pillars of personal and community development.
Our Solution
Black Capital Credit Union aims to offer an inclusive alternative to mainstream financial institutions. We provide fair, transparent, and accessible loan and savings products tailored to our members’ needs, and empower individuals through financial education, helping them make informed financial choices. By closing the gap in financial access and education, we aim to break the cycle of poverty, stimulate entrepreneurship, and build a more financially empowered and prosperous community.
Our Core Principles
Our Vision
Our long-term vision is to become a CFI that is competitive, viable and sustainable with capacity to fulfilling members’ economic and social needs. Our vision 2030 is to become a full-fledged co-operative bank.
Our Mission
To be a strong, member-only financial co-operative providing innovative financial services and products while increasing the community’s savings, providing loans and offering financial education to support to our members.
Our Values
Integrity (truthful, accountable); Respect (equality, dignity); Excellence (highest standards); Flexibility (interactive) and; Safety and security (protect your funds and personal information).
Our Leadership
Our board of directors provides strategic direction and oversight, ensuring the long-term sustainability and success of the cooperative.
Mr. Lizwilenkosi Dlamini
Deputy Chairperson
Principal at Sunnydale Secondary School with 15 years’ experience in education management. Holds a B Tech in Education Management and has experience in Financial Management, HR, and Strategic Planning.
Mr. Phelelani Zulu
Secretary
20 years of teaching experience and holds a Bachelor of Pedagogics. Part of the audit committee for uMlalazi Local Municipality, bringing a wealth of governance and project management experience.
Ms. Thulisile Ndaba
Deputy Secretary
Holds a Bachelor of Commerce in Business Management and Banking. Former chairperson of the Accounting and Auditing Society at the University of Zululand with strong organisational and communication skills.
Mr. Themba Khumalo
Treasurer
Business executive and entrepreneur for over 20 years. Holds a Bachelor and Honours of Administration, is a member of the Institute of Directors, and serves on various boards as the Founder and Executive Chairperson of Umphini Holdings.
Ms. Ruth Mdlalose
Director
A double-degree graduate (BA and Education) with over 20 years of teaching experience. Currently an entrepreneur and a founding member of the King Cetshwayo Co-operative Financial Institution, holding Directorships in a number of companies.
Mr. Sibusiso SE Gumede
Director
Holds multiple degrees including an M.Com in Economics. Content Advisor to the Portfolio Committee on Small Business Development in Parliament. Founder of multiple enterprises with over 10 years of economic development experience.
Mr. Sikhumbuzo Mkhwanazi
Director
A former Detective and entrepreneur in the security industry with 11 years of hands-on experience. Certified in security with a strong record of identifying threats and a working knowledge of security operations and safety practices.