Photo by: Duane Daws
There was enough scope in South Africa to make local procurement of goods and services feasible, Shanduka Black Umbrellas COO Seapei Mafoyane said during the Proudly South Africa Buy Local Summit and Expo, in Sandton, on Tuesday.
South Africa’s private and public entities needed to better support local suppliers, as the nation’s future depended on the success of small and medium-sized enterprises (SMEs), she stressed.
Mafoyane warned that true economic transformation was only possible through the inclusion – and the resultant success – of small local businesses.
Black-owned and SME businesses remained sidelined as more established, larger firms held distinct market advantages, outpacing the competitive capability of these SMEs.
Shanduka, which had taken 300 entrepreneurs under its wings in the Black Umbrellas initiative, encouraged other market players to partner in the quest to uplift South Africa’s smaller businesses.
Shanduka had placed the budding entrepreneurs into eight Shanduka-guided incubators across six provinces.
The group also aimed to create exposure for 6 000 black-owned SMEs through listings on a so-called “black pages” online portal hosted by Shanduka. The portal enabled large companies to source suppliers and meet their local procurement spend requirements.