Bidvest Bank, has demonstrated its commitment to supporting black-owned businesses by investing over R10 million in five Exempted Micro-Enterprises (EMEs) across Gauteng, Limpopo, and KwaZulu-Natal.
This investment is part of Bidvest Bank's Enterprise Development programme and three of the five businesses supported have a majority ownership by black females. These automotive businesses, Klasique Motors, Mamabheka, RA Motors and Panelbeaters, Lawries Auto, and Sondela Auto, specialise in maintenance and repairs for Banks and others enties fleet customers.
The purpose of these grants is to promote sustainable growth within the automotive sector while preserving employment opportunities and contributing to the transformation of the South African economy. Each business received tailored financial support based on their specific needs. With the automotive industry contributing 4.3% to the country's gross domestic product (GDP) in 2022, this investment becomes even more significant in terms of its potential impact on job creation.
Hannah Sadiki, the Managing Director of Bidvest Bank, emphasised the Bank’s commitment to fostering growth within the automotive sector and building sustainable businesses. She explained that this initiative aligns with the Bank's inclusive procurement strategy, which aims to develop local supply chains capable of supporting resilient communities. Sadiki highlighted the Bank's broader transformation agenda for Enterprise and Supplier Development (ESD), stating, "We aim to build this Ecosystem by supporting small-business growth, stimulating job creation, and creating economic opportunities for previously excluded groups. We are particularly proud that the majority of the businesses we support are black women-owned."
One shining example of the impact these investments can make is RA Motors, a black woman-owned business. Reflecting on her experience, owner Angie Ledwaba expressed her excitement about the future, thanks to the support received from Bidvest Bank. She revealed that her business was on the verge of closing down, but with the backing provided through the Bidvest Bank ESD programe, she can now confidently move forward and expand.