14 SMEs unlock more than R86m in property sector projects under Pareto’s Supplier Development Programme
In the light of Global Entrepreneurship Week, we celebrate 14 small and medium businesses that successfully graduated from the innovative Pareto’s Supplier Development accelerator programme in partnership with Property Point.
Since the beginning of the programme in 2020, the 14 black-owned businesses that participated in the intake generated a total of R86.9 million in revenue from Pareto and created a total of thirty-three permanent jobs – a celebrated milestone to which sees the commitment to economic inclusion and despite a time of global crisis and job losses. The announcement comes during Global Entrepreneurship Week which is a global celebration of entrepreneurship that takes place from November 14–20 this year.
Pareto and Property Point partnered to launch a two-year Supplier Development Programme in 2020, at a time where the country was confronted with significant domestic and global challenges, including the sudden emergence of Covid-19.
The key objective of the supplier development programme was to help grow sustainable business enterprises in the sector in which Pareto operates. The aim was to create jobs and expand the economy and this involved the investment, support, facilitation and fostering of new and existing small and micro-enterprises. Josephine Sidambe, Founder of Ingqwele Consulting and Project Management, a full-service construction company was announced as the overall top achiever and was awarded a prize of R75 000 investment towards the business.
Sidambe said the bespoke support given to both her as the jockey and the business as the proverbial horse had been invaluable. “The Supplier Development programme has helped my business experience a platform where we could meet experts in the field; network with other peers; and access to the intelligence which helped us keep up with trends. This award will go a long way to help us with the tools that will boost our business.”
Ayanda Magqaza Founder and Director of TASKMITH Investment Group (PTY) LTD, a black and female-owned entity that provides quantity surveying, project management and development management services was announced as the runner up and was awarded the prize of R50 000.
Magqaza said they had experienced a lot of changes due to the Covid-19 pandemic and were now very excited about the future of the business as things are starting to change for the better thanks to Pareto.
