To cohesively solve the challenges of creating a healthy pipeline of suppliers that represent the demographics of the country, SAB created a two-pronged approach. This approach is aimed at supporting the top-performing suppliers with the greatest potential for growth with programmes to suit their needs, be it funding, business development support or both.
These programmes are the SAB Accelerator and the SAB Thrive Fund. Both programmes will combine global best practice and innovation unique to the South African context.
The first programme, SAB Accelerator, is focused on supporting Black-owned suppliers in need of business development and technical support to grow further into the SAB supply chain. SAB Accelerator attempts to scale their service or product offering to enhance their efficiency by enabling them to improve performance and capacity. The programme has 3 sub-programmes namely, Start-up, Catalyst and Amplify.
The second programme is the SAB Thrive Fund, a fund focused on supporting existing Black-owned suppliers in need of capital to grow. Simultaneously, SAB Thrive Fund supports existing suppliers improve their Black ownership credentials by providing them with access to 100% Black-owned capital. The SAB Thrive Fund is an Enterprise & Supplier Development (E&SD) Fund powered by the Awethu Project which is the Black Private Equity Fund Manager that owns a majority of the Fund (51%) – enabling this intervention to speak to both the spirit and the letter of the B-BBEE codes by creating shared value for both SAB and Black-owned businesses.
About SAB Thrive/
The SAB Thrive Fund is the SAB Supplier Development Fund, which has the mandate to create both stronger and more black-owned suppliers in the SAB supply chain. The SAB Thrive Fund looks to invest in SAB suppliers with turnover greater than R5m and less than R50million (QSE), to improve SABs B-BBEE compliance, while simultaneously creating shared value for new Black economic entrants.
The SAB Thrive Fund is a fund owned by SAB, in partnership with the Black Youth-owned Black Private Equity Fund Manager, the Awethu Project. The Fund’s capital is considered 100% black-owned in line with the DTIs B-BBEE Codes.
The SAB Thrive Fund also provides existing White-owned suppliers with equity capital to support the enhancement of their black-ownership, while facilitating the introduction of a black entrepreneur(s) to gain an ownership stake in the business with the intention of apprenticing this individual, to take over the business in the near future.
Existing black-owned suppliers
The SAB Thrive Fund invests equity capital into SAB’s existing high-growth black-owned suppliers to provide growth capital to further their profitable expansion, without diluting the black-ownership of these businesses, through the following process:
Existing White-owned suppliers
The SAB Thrive Fund provides existing White-owned suppliers with equity capital to support the enhancement of their black-ownership, while facilitating the introduction of a black entrepreneur(s) to gain an ownership stake in the business with the intention of apprenticing senior management, to take over the business in the near future, through the following process:
To be eligible to apply for funding from the SAB Thrive Fund, applicants must be:
About SAB Accelerator
Start-up and Catalyst Programmes
To be eligible to apply, applicants must be either:
Cheri Yase Kasi is proudly South African ideation experts pioneering disruptive consumer-centric experiential marketing strategies. Basically, we come up with authentic real ideas for clients, well known personalities and brands…we are the fixer of this lovely marketing industry that we work in.
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