The Shoprite Group has launched Shoprite Next Capital, a business division dedicated to capacitate and grow commercially viable small, medium and micro enterprises (SMMEs) to give small suppliers access to its consumer market.
Shoprite yesterday said that as drivers of growth, job creation and innovation, SMMEs were crucial to the recovery of the South African economy, and Shoprite Next Capital was the formalisation of the key role the retailer played in the success of SMMEs by giving them access to its consumer market.
Maude Modise, the general manager for Enterprise & Supplier Development at the group, said: “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.”
This new division would 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 would assist suppliers to scale up gradually, said Modise.
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,” said Modise.