ProfitShare Partners and Hot 91.9FM get SA working with R43m financial boost
Johannesburg - ProfitShare Partners, the fintech disruptor, together with radio partner Hot 91.9FM have boosted businesses with over R43-million in a year-campaign to #GetSAWorking.
With a starting fund of R100-million, ProfitShare Partners aimed to facilitate opportunities where doors had often been closed in the faces of small business owners.
ProfitShare Partners founder and CEO Andrew Maren said the campaign was trying to remove all the barriers placed in the way of SMEs access to funding.
“In striving to enable qualified small businesses with the funding required to meet the orders they have received from clients, ProfitShare Partners is delighted with the successes already achieved,” said
With a further R57-million to be disbursed over the remaining seven months of the campaign, Maren said it’s important that other SMEs hear the success stories and see the doors that are open to them.
“As South Africa faces a long road to recovery after Covid-19, we want to be the team that encourages a can-be-done attitude among SMEs – and the team that gives them what they need to do it,” he said.
Among the businesses that benefited includes Kakono Trading that approached the campaign to increase their capacity to deliver a wide range of information communication technology (ICT) solutions and services.
“ProfitShare Partners blasted Kakono through their cash flow glass ceiling with a cap of R5-million per transaction,” said Kakono Trading’s Shinese Manaka.
Josias Kele from Kelecorp Trading was unable to deliver on a purchase order due to traditional banks' cumbersome process and collateral to secure funding.
“ProfitShare Partners instilled a sense of confidence in us and we knew they understand the SMEs pain. They gave us the opportunity to do the work we needed to quickly,” Kele said.
Andries Leboho of Gallant Business Solutions who was forced to move his core business of petroleum wholesale and supply to personal protective equipment (PPE) during the Covid-19 lockdowns to make ends meet.
“Dealing with banks was a difficult process due to many branches being closed, as well as the difficulties their requirements presented us. Once we were approved, ProfitShare Partners was fantastic and helped us deliver our orders on time,” he said.
Annastacia Phalane of Kagiso Trading, was about to give a large contract away because she had no access to funding but approached ProfitShare Partners and said their assistance was “a dream come true”.
“With their speedy turnaround I was able to deliver to a very happy client who now believes in my company,” she said.