The Shoprite Group has launched a new business division, called Shoprite Next Capital, dedicated to capacitate and grow commercially-viable SMMEs.
Maude Modise (Shoprite), Minister Stella Ndabeni-Abrahams (Department of Small Business Development) and Joseph Bronn (Shoprite). Source: Supplied
The move is designed to further the Group’s efforts to give small suppliers access to its vast consumer market, in recognition of the fact that as drivers of growth, job creation and innovation, SMMEs are crucial to the recovery of the South African economy.
“With Shoprite Next Capital our aim is to further enhance the participation of small and emerging suppliers in our business. Our focus will be on their specific needs and how best we can assist them,” explains Maude Modise, GM for enterprise and supplier development at the Shoprite Group.
“This new division will provide SMMEs with easier entry into the Group’s retail market with direct access to buyers that understand their needs combined with personalised growth plans that will assist suppliers to scale up gradually,” continues Modise.
Minister Stella Ndabeni-Abrahams, delivering a keynote speech at the launch of the Shoprite Next Capital – a new business division dedicated to capacitating and growing commercially-viable small businesses. @Shoprite_SA pic.twitter.com/cuoRcQTDqo— Department of Small Business Development (@DSBD_SA) June 22, 2022
The Group says it aims to build sustainable relationships to develop, capacitate, sustain and grow small South African businesses, create jobs and increase localisation of goods.
One-stop shop for SMMEs
Shoprite Next Capital will operate as a one-stop shop for SMME partners by providing marketing opportunities, working capital assistance, packaging and labelling support, data sharing, product range and geographic expansion, as well as possible private label partnerships.
“The Group has always partnered with small suppliers, but now we are giving them additional focus and allocating dedicated buyers, essentially creating a separate value chain to the bigger supply chain system,” says Modise.