Downtown Africa
Small business development specialist, Edge Growth, has been appointed by The SAB Thrive Fund to manage investments in this enterprise and supplier platform, with the aim of transforming suppliers within the SAB supply chain. With an almost 90% localized supply chain, SAB aims to expand and improve the efficiencies of existing business and expand the opportunities to more entrepreneurs.
Edge Growth, which has over a decade’s experience within the industry, will now play an important role as a partner to The SAB Thrive Fund, to spearhead business development and opportunities for diversification. In this partnership, Edge Growth will facilitate the redeployment of funds into new suppliers which will service gaps in SAB’s supply chain. Integration of black principals into the management structure is also an important support component, including the provision of comprehensive business coaching.
“We are extremely proud of this appointment by The SAB Thrive Fund. The funds invested here will lead to more jobs, support for entrepreneurs and opportunities for a more diversified and inclusive supply chain, and we are honored to play a part in this important initiative,” says Richard Rose, CEO at Edge Growth’s Fund Management Business Unit. Over the last five years, SAB has invested more than R200m into The SAB Thrive Fund, established in 2016 to support the growth of black-owned suppliers through business development, support and growth capital. SAB owns a 49% stake in the SAB Thrive Fund.
To date, the SAB Thrive Fund has successfully placed 12 black principals in the respective operating companies, aligned to the Fund’s objective of including historically disadvantaged individuals into the business’s leadership and management structure of their organizations.
“We are delighted to have Edge Growth as fund managers of The SAB Thrive Fund, they bring an excellent team and proven track record that will help diversify our supply chain even further,” says Richard Rivett-Carnac, SAB Vice President: Finance, Legal, Corporate Affairs RoA.
Edge Growth, a black owned B-BBEE Level 2 small business development specialist, partners with corporates and investors to achieve real transformation by scaling SMEs through their fund management solutions, ESD strategies and SME development programs. “The SAB Thrive Fund’s objectives aligns closely with our own SME development goals, and we’re excited to help the portfolio continue to grow strongly and create meaningful socio-economic impact in South Africa,” Rose says.
This article was initially published in bizcommunity.com. You can start earning money by becoming our Independent Reporter or Contributor. Contact us at IR@downtownafrica.com
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