Oil and gas company Chevron South Africa, which markets its fuel under the Caltex brand, has started a new enterprise and supplier development (E&SD) programme aimed at improving access to its value chain for black-owned businesses.
The initiative is open to businesses that are 51% black-owned and that can continue and sustain growth through adding value within Chevron’s value chain.
A key feature of the E&SD programme involves proactively enabling entry into the petrochemicals business by providing access to interest-free, unsecured financing. The funding can be used as working capital and for expansion as part of an ongoing commercial relationship with Chevron.
The funding and mentorship are considered key to the removal of barriers to entry.
“This is being done to demonstrate the company’s intention to lead change in the petroleum sector, not as a short-term project, but as a continued, deeply rooted process,” says Chevron south Africa chairperson Shashi Rabbipal.
He notes that the programme will create a long-term competitive advantage for the company by growing its base of capable and reliable partners.
“Chevron South Africa’s current transformational achievements and broad-based black economic empowerment level four rating would not have been possible without the existing strong partnerships that we have with our suppliers and retailers,” he says