In this form of development, we assist SMMEs that are not part of the Novus Holdings supply chain by providing financial investments and other solutions required for them to operate successfully, for example, equipment, and skilled staff. The goal is that in time, beneficiaries of our enterprise development programme can then become valuable members of the Group’s supply chain. The Group’s current enterprise development beneficiaries include Songo Africa, Drink Dispense Services (DDS), and Inyozi Empowerment.
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. That company is Songo Africa and 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 that build a strong brand presence products for their clients. The company’s product line stretches to corporate and promotional gifts, promotional support elements, print production and design, and consumer market research. Nomcebo and Sanele’s approach is one that begins with the concept and ends with a high quality finished product. “
Novus Holdings’ contribution to Songo Africa was in the form of an interest-free loan. This loan will help Songo Africa to stabilise their cash flow and grow and expand their business.
For more information about Songo Africa go to songoafrica.com
Drinks Dispense Service (DDS)
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 past two decades to service 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. Today, the businesses expertise extends to specialist dispensing services and products, refrigeration, installation, sanitation and maintenance of fridge and draught-related equipment for a broad client base.
Novus Holdings gave DDS an interest-free loan, which has helped them to buy their own vehicles rather than leasing them out.
For more information, visit www.mydds.co.za
Initially known as the Cadiz Enterprise Development Investment, Inyosi Empowerment came into being after a rebrand and relaunch that took place 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. These entities 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, to date, created 22 110 jobs in eight sectors of the South African economy.
Novus Holdings invested in Inyosi Empowerment, which in turn has gone on to 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; and
- The Clothing Bank (NFP).
For more on Inyosi Empowerment, go to inyosi.co.za