Surveying the landscape, it is clear that a number of small, medium and micro enterprises (SMMEs) have become unfortunate casualties of the COVID-19 pandemic. Undoubtedly, the growth of the SMME sector is essential to rebooting the economy and driving job creation.
Major corporations have stepped up, hoping to solve this conundrum, helping to guide, support and shape this vital segment; ensuring for ongoing sustainability. Here is a snapshot of Absa suppliers that have demonstrated true Africanacity, a distinctly African ability to always find ways to get things done …
Inspired to transform
Seasoned entrepreneur, Mpume Mhlongo, Managing Director of MicroVBE Couriers, has made significant in-roads into the logistic industry. This black, female-owned company (a rarity in the courier space) is responsible for developing innovative track and trace systems that enable real-time visibility and instant, full traceability of goods. This then provides valuable business insights for clients – who, by the way, include top players such as Absa Bank, the National Health Laboratory Services (NHLS) and Altron Bytes Technology Group.
In line with Absa’s commitment to driving female empowerment, MicroVBE Couriers was awarded a logistics contract, transporting point of sale (POS) devices from suppliers, warehousing them before delivering them nationally. Absa also financially assisted MicroVBE with a grant of R2 million, laying the foundation for continued success and sustainability during the pandemic.
To learn more about Mpume’s journey click here.
Inspired to grow
SystemicLogic, a leading global financial innovation and technology company, has expanded significantly in the last seven years, thanks to the tenacity of its CEO, Audrey Mothupi, and the support and resources provided by banking partner, Absa. Not only did the bank assist the company with a line of credit while revenue was being brought in, but they also invited Audrey and her team to form part of the Absa’s Group Procurement Supplier Development initiative. Inevitably, both Absa and SystemicLogic share the same values and aspirations, especially during difficult operating times – driving job creation, enhancing resilience, impacting lives and empowering graduates to thrive.
Read full story here.
Inspired to shape
Plastics packaging company, Pavati is a black youth owned company with a 30% black female ownership (a Level 2 BBBEE contributor). Founded in 2015, by Mthobisi Bruce and Ntombenhle Nhleko, the company was originally established to provide plastic related packaging products to Bidvest Afcom. As members of Absa’s Supplier Development programme, the company was provided with debt funding on new manufacturing and vehicle assets and an overdraft facility, all at affordable rates.
Absa has also been pivotal in helping the company acquire new business and market access and has also helped drive a new product offering that has remained steadfast during lockdown- plastic money bags for commercial banks.
Get more info here.
Inspired to represent
Certified Chartered Account (SA), Mamoroke Lehobye, saw first-hand the pitfalls of small business owners only assessing their finances at the end of the year. It is essential that entities continuously keep track of their financial performance so that strategies and cash flows can be adjusted real-time. There’s just one problem – not every SMME can afford an expensive accounting firm or an in-house financial management resource. Enter MyCFO, the CFO for SMMEs that solve daily business finance challenges for emerging and growing enterprises to flourish, especially with added pressures of COVID-19. With the support of Absa, Mamoroke is not only able to grow her own venture but advocate, participate and create sustainable solutions for the SMME ecosystem.
Get more advice from Mamoroke here.
So how do corporates ensure for future fit, reliable and adaptable supply chains?
“By providing meaningful opportunities for development and business growth; by transferring knowledge and best practice through hands-on training; and by providing financial support and guidance where possible. This is the key to rebuilding, recreating and re-energising the economy,” explains Vusi Fele, Absa Chief Procurement Officer.