The Shoprite Group has launched Shoprite Next Capital – a new business division dedicated to capacitating and growing commercially-viable small businesses. This forms part of the group’s continued efforts to give small suppliers access to its consumer market.
As drivers of growth, job creation and innovation, SMMEs are crucial to the recovery of the South African economy, and Shoprite Next Capital is the formalisation of the key role the Group plays in the success of SMMEs by giving them access to its consumer market, said Maude Modise, general manager for enterprise and supplier development at the group.
“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,” she said.
“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.”
Modise added that the group aims to build sustainable relationships to develop, capacitate, sustain and grow small, South African businesses, create jobs and increase the localisation of goods.
“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,” she said.