• Home
  • Business
  • South Africa: MTN initiates new supplier programme for SMEs, invites applications
Image

South Africa: MTN initiates new supplier programme for SMEs, invites applications

MTN has launched the MTN Xlerator, an enterprise supplier development (ESD) initiative aimed at boosting its procurement spending by R4 billion within a two-year period, specifically focusing on engaging with 51% Black-owned Small, Medium, and Micro Enterprises (SMMEs).

The MTN ESD program welcomes applications from SMMEs that have a minimum of six months of operational history, are majority Black-owned (at least 51%), maintain an annual turnover of R500 million or less, and have Black managers holding key positions in their daily operations.

Charles Molapisi, the CEO of MTN South Africa, further elaborates,

“MTN Xlerator is a symbol of our unwavering commitment to progress, innovation, and empowerment. We believe in the enormous, unearthed potential within South Africa. At MTN, we believe in the evolution of empowerment and our goal is to transition from a transaction-based supply chain to a values-based one, ensuring everyone enjoys the benefits of a connected world while building a better tomorrow.”

MTN has selected Payabill, a fintech specializing in SME financing, as one of the financial partners for the program.

Payabill offers funding solutions to South African SMEs and will be featured among a group of chosen lenders and banks in MTN’s program.

Payabill focuses on SMEs with annual revenues ranging from R500,000 to R30 million, providing them with working capital and other financial resources to support business expansion. Their financial services encompass a range of options, including local and international trade finance, as well as asset financing.

Payabill CEO explains that “We are excited to have been selected by MTN to partner on its Xlerator programme. Payabill has already paid many suppliers in most sectors chosen by its customers all over the country.”

Related Posts

Ghana: Guinness Breweries PLC introduces Learning for Life Program to promote inclusion

In collaboration with the Youth Employment Agency, the Ghana Tourism Authority, and the Diageo Bar Academy, Guinness Ghana…

Ghana: Kasapreko and GIZ aid Bonuama community with ambulance, water plant

In a collaborative effort between Kasapreko Company Limited and the German Development Cooperation, a state-of-the-art ambulance has been…

African Development Bank Opens new office in Yaoundé, Cameroon

The African Development Bank Group, has announced the opening of its newest office for Central Africa. The office…

Kenya: Mastercard and Equity Bank collaborate to enhance cross-border money transfers

Mastercard and Equity Bank have unveiled a strategic partnership aimed at facilitating safe and secure money transfers for…