KTH awards seven SMEs a position on their supplier development programme 201611 March 2016
On 11 March 2016, black owned and managed investment holding company, Kagiso Tiso Holdings (KTH) officially launched their dynamic supplier development programme – Impande. Meaning “roots”, Impande is an isiZulu word that describes KTH’s focus on growing black-owned businesses, and reflects their commitment to contributing to building a solid support system for transformation within the SME sector and the growth of the South African economy.
KTH, which is one of the most respected black-established companies in South Africa, has developed and implemented a supplier development programme in order to assist with creating a sturdy foundation on which to stimulate and develop entrepreneurship in South Africa. The programme aims to grow entrepreneurs and their skills sets, so that their offering would include products and services from which corporates such as KTH could procure from.
Speaking on this initiative, KTH’s CEO Vuyisa Nkonyeni said: “Small business development is the cornerstone of what is needed in order to improve the South African economy. Providing opportunities to small businesses and in particular, to entrepreneurs, is both a national and civil imperative that cannot be ignored. KTH is privileged to be in a position to support this talent in a practical and sustainable manner which will see these businesses being able to access customised support, designed to assist them with growth and development.”
In order to achieve the targets KTH had set themselves for supplier development, KTH partnered with Raizcorp – Africa’s most successful and established for-profit business incubator model to roll out a well thought out and enterprising business growth programme for entrepreneurs. After numerous applications were received and assessed, seven growth-hungry entrepreneurs, who have black-owned small businesses, were selected to join the Impande programme.
The seven selected businesses include:
|•||Two black women- owned legal businesses,|
|•||One black-owned accounting firm,|
|•||One black-owned tax advisory firm,|
|•||One black woman-owned design and media company,|
|•||One black woman-owned printing company, and|
|•||One black- owned catering company.|
Impande is an intense 24-month business growth programme, where each business will have access to markets, customised entrepreneurial learning, and guiding (“mentorship”), as well as access to specialist services, which will all be facilitated by Raizcorp. In addition to this, each business will receive a three-year contract to be a part of KTH’s supply chain, where they will be exposed to additional markets via KTH’s extensive networks.