Small business development specialist, Edge Growth, has been appointed by The SAB Thrive Fund to manage investments in this enterprise and supplier platform, with the aim of transforming suppliers within the SAB supply chain. With an almost 90% localised supply chain, SAB aims to expand and improve the efficiencies of existing business and expand the opportunities to more entrepreneurs.
L to R: Richard Rose, CEO of Edge Growth Ventures; Raesibe Dlamini, SAB Sustainability Manager & SAB Thrive Fund Director; Kelebogile Shoko, portfolio manager at Edge Growth; Naadirah Grimsel, SAB Public Affairs & Regulatory Manager; Zoleka Lisa, SAB Vice President Corporate Affairs SA and Joe Kekana, portfolio manager at Edge Growth.
Edge Growth, which has over a decade’s experience within the industry, will now play an important role as a partner to The SAB Thrive Fund, to spearhead business development and opportunities for diversification
In this partnership, Edge Growth will facilitate the redeployment of funds into new suppliers which will service gaps in SAB’s supply chain. Integration of black principals into the management structure is also an important support component, including the provision of comprehensive business coaching.
“We are extremely proud of this appointment by The SAB Thrive Fund. The funds invested here will lead to more jobs, support for entrepreneurs and opportunities for a more diversified and inclusive supply chain, and we are honoured to play a part in this important initiative,” says Richard Rose, CEO at Edge Growth’s Fund Management Business Unit.
Over the last five years, SAB has invested more than R200m into The SAB Thrive Fund, established in 2016 to support the growth of black-owned suppliers through business development, support and growth capital. SAB owns a 49% stake in the SAB Thrive Fund.
To date, the SAB Thrive Fund has successfully placed 12 black principals in the respective operating companies, aligned to the Fund’s objective of including historically disadvantaged individuals into the business’s leadership and management structure of their organisations.
“We are delighted to have Edge Growth as fund managers of The SAB Thrive Fund, they bring an excellent team and proven track record that will help diversify our supply chain even further,” says Richard Rivett-Carnac, SAB Vice President: Finance, Legal, Corporate Affairs RoA.
Edge Growth, a Black-owned B-BBEE Level 2 small business development specialist, partners with corporates and investors to achieve real transformation by scaling SMEs through their fund management solutions, ESD strategies and SME development programmes.
“The SAB Thrive Fund’s objectives align closely with our own SME development goals, and we’re excited to help the portfolio continue to grow strongly and create meaningful socio-economic impact in South Africa,” Rose says.