Shoprite Group has launched Shoprite Next Capital – a new business division dedicated to building and growing commercially viable small businesses. This is part of the group’s ongoing efforts to give smaller suppliers access to its consumer market.
Engines of growth, job creation and innovation, SMEs are essential to the revival of the South African economy, and Shoprite Next Capital is the formalization of the key role that the Group plays in the success of SMEs in their providing access to its consumer market, said Maude Modise, the group’s managing director of business and supplier development.
“With Shoprite Next Capital, our goal is to further enhance the participation of small, emerging suppliers in our business. We will focus on their specific needs and how best to help them,” she said.
“This new division will offer SMEs easier entry into the group’s retail market with direct access to buyers who understand their needs combined with personalized growth plans that will help suppliers scale up incrementally.”
Modise added that the group aims to build lasting relationships to grow, strengthen, support and grow South African small businesses, create jobs and increase the localization of goods.
“Shoprite Next Capital will operate as a one-stop-shop for SMME Partners by providing marketing opportunities, working capital assistance, packaging and labeling assistance, data sharing, product range and l geographic expansion, as well as potential private label partnerships.
“The group has always partnered with small suppliers, but now we’re giving them extra attention and assigning dedicated buyers, essentially creating a separate value chain from the larger supply chain system,” she said. declared.
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