Through this form of development, we assist relevant SMMEs that are not part of the Novus Holdings supply chain by providing financial investments and other solutions required for them to operate successfully. The end-goal is that in time, these beneficiaries then become valuable members of our Group’s supply chain.
Songo Africa – 2017
Two passionate young entrepreneurs, Nomcebo Nhlabathi and Sanele Sibandze, had the idea of opening a clothing and promotional gifts company in their home province of KwaZulu-Natal and so Songo Africa was born in 2004. The name is derived from the Nguni word “Songo” which means “adding flavour”, and the company has a vision that includes producing time-relevant and impactful promotional elements that build a strong brand presence for their clients. The company’s product line includes promotional gifts, promotional support elements, print production and design, as well as consumer market research.
In 2017, Novus Holdings’ contribution to Songo Africa was in the form of an interest-free loan to help stabilise their cash flow and expand their business.
Drinks Dispense Service (DDS) – 2017
A leading provider of draught beverage and fountain services, Drinks Dispense Services (DDS) was founded in 1995 when a Johannesburg division of SAB took the decision to outsource its Draught Beer Servicing Unit. This owner-managed business has grown over the years servicing in excess of 20 000 pubs, restaurants and retail outlets throughout Africa. While DDS is still based in Johannesburg, additional full-service and satellite offices can be found around the country and its footprint on the continent extends to branches in Botswana, Mozambique, and Malawi. The company offers specialist dispensing services and products, refrigeration, installation, sanitation and maintenance of fridge and draught-related equipment for a broad client base.
During 2017, Novus Holdings provided DDS with an interest-free loan, which has helped them to buy their own vehicles rather than leasing them out.
Inyosi Empowerment – 2017
Initially known as the Cadiz Enterprise Development Investment, Inyosi Empowerment was established following a rebrand and relaunch in 2016. It is a specialist fund that provides finance, in the form of loan capital at affordable interest rates, and ancillary support to black-owned businesses and beneficiaries which are required to have a minimum operational track record of between three and five years, be 51% black-owned and show an annual turnover of less than R50 million. Among Inyozi Empowerment’s other achievements is the fact that the fund has supported over 41 000 entrepreneurs since inception.
In 2017, Novus Holdings invested R3 million in Inyosi Empowerment, which in turn has helped the fund invest in the following SMMEs:
• Trust for Urban Housing Finance (TUHF) (Pty) Ltd
• Tedcor Management (Pty) Ltd
• SA Taxi Finance Solutions (Pty) Ltd
• Small Enterprise Foundation (SEF) (NFP)
• Rand Trust Financiers (Pty) Ltd
• Darchem (Pty) Ltd
• The Clothing Bank (NFP)