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Shoprite Next Capital launched to help develop SMEs

In a bid to drum up development of the local SME space, Shoprite Group has launched a new business division.

Shoprite Next Capital is that division and it has been created with a view to furthering the group’s efforts to give smaller suppliers access to the consumer market.

The division will operate as a sort of one-stop-shop for SMEs. Shoprite will offer marketing opportunities, working capital assistance, packaging and label support, data sharing, product range and geographic expansion. There is also the possibility of private label partnerships with the retailer.

“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,” explained general manager for enterprise and supplier development at Shoprite Group, Maude Modise.

The hope is that through Shoprite Next Capital, the path into Shoprite Group stores will be easier. SMEs will also have the benefit of working with Shoprite and its deep understanding of the sector.

“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,” Modise concludes.

Hopefully this division leads to more diverse range of products in Shoprite Group stores.

[Image – CC 0 Pixabay]

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