Invested for long term success.
The SA SME Fund, which invests in intermediaries that provide debt and equity instruments to SMEs, has recognised the potential that ProfitShare Partners’ business model offers to SMEs for high-impact growth, and has provided the company with R100 million that will assist in catalysing more growth in the SME market.
The availability of funding and access to working capital has always been a challenge for SMEs. This has been exacerbated by the country’s economic crisis which has been deepened by the pandemic. PSP will provide SMEs with an alternative funding model to act as a catalyst for their survival and growth.
FirstRand’s Vumela Fund has committed an additional R25 million funding line to ProfitShare Partners (PSP) to support SMEs needing capital to supply essentials to fight Covid-19.
PSP has been actively assisting a few SMEs since the start of lockdown to supply essential items, including the local manufacturing of hand sanitisers, face masks, other health personal protective equipment and pharmaceutical medical supplies.
The additional R25 million funding line from the Vumela Fund will enable the fintech startup to take this drive one step further and partner with more SMEs who are in the business of supplying these essentials.
J.P. Morgan is pleased to announce the launch of the J.P. Morgan Abadali Equity Equivalent Investment Programme (EEIP) with the approval of the South African Department of Trade, Industry and Competition (the dtic).
The Abadali EEIP intends to create a positive economic and social impact in South Africa by addressing a critical funding gap for majority black owned and controlled enterprises. These businesses have historically found it challenging to access capital to finance growth.
The Abadali Fund will be administered by Masakhe Partners, with Edge Growth Ventures as the fund manager and ProfitShare Partners as a short-term capital solutions partner, both of which are majority black owned and controlled.
Goldfields is pleased to announce the launch of the South Deep Joint Venture with ProfitShare Partners.
The objective of this funding line is to assist to further its key objectives of incorporating previously marginalised suppliers into their supply chain while simultaneously growing SMEs into larger, more sustainable and more reliable suppliers of goods and services.
The team behind the scenes that make things happen for SMEs and future generations.