Business & Economy

Wednesday, 26 March 2014 09:49

Foskor launches Supplier Development Initiative in collaboration with the SASDC

Written by 
Foskor launches Supplier Development Initiative in collaboration with the SASDC

South African Supplier Diversity Council | Tel: 0111001025 |  

PRESS RELEASE | 26 March 2014  


Richards Bay, KwaZulu-Natal - On 14 March Foskor celebrated the launch of a new Supplier Development Initiative which aims to enhance Foskor’s pool of qualified suppliers that they can draw from.

“The purpose of us meeting today is to reaffirm our commitment as Foskor in supplier development,” welcomed Sifiso Mncube, Divisional Procurement Manager at Foskor. “In the last four years Foskor took a view that as a company we cannot go forward unless we share the economy and we are able to bring black suppliers into the core function of what we do.”

Sifiso highlighted Foskor’s immediate plan of spending money in developing suppliers. However, he noted “if we spend one rand with you, then we must be able to do business with you”, emphasizing the importance of providing necessary support to black suppliers brought into the supply chain.

Sifiso also serves as a Board Member for the South African Supplier Diversity Council (SASDC), who played an integral facilitation role in creating and, going forward, project managing Foskor’s Supplier Development Initiative. The program complements one of the SASDC’s core functions of supporting its Corporate Members in establishing sustainable business practices that demonstrate supplier diversity, thereby increasing the flow of transactions between Corporate South Africa and black businesses.

“We applaud Foskor for partnering with us to implement true supplier development that will drive benefit to both Foskor and suppliers in the programme” says Gary Joseph, Chief Executive of the SASDC. He went on to state “We are optimistic that this demonstrates how Corporate South Africa can best invest in their supplier base while addressing much needed economic transformation and empowerment.”

The first cohort of ten black companies will undergo an intensive four month training program executed by 20/20 Insight, a SASDC certified company who specializes in supplier and enterprise development. 20/20 Insight works with corporate companies such as Foskor to help them develop SMEs in line with their empowerment objectives. “The new codes are saying the supplier base must change, and this change isn’t marginal – it’s huge. Companies will have to change,” says Karabo Mashugane, Managing Director of 20/20 Insight.

The “Optimization and Growth Strategy” training features fortnightly business modules such as an overall company diagnostics, accounting, break-even analysis and human resource management and planning. As an outcome, suppliers will optimize efficiencies in their company and leave with a practical business plan for immediate adoption. Thereafter, the intention is to continue monitoring the performance of these companies and focus on a 10-year growth strategy to ensure business sustainability.

All ten supplier participants are 100% black-owned and certified by the SASDC, while two are also 100% black-women owned. Needless to say, utmost appreciation was expressed in response to Foskor’s Supplier Development Initiative for giving them an opportunity and making an investment in the growth and development of their businesses.

“Foskor understands the background we Black SMME companies come from,” says Tholie Cibane, Managing Director of TS Cibane Consulting CC. “I don’t want to be given things on a silver platter - I want to work for it. It’s just a matter of opening doors. If we can be identified as Foskor has done, we are prepared to work. Why not give us an opportunity rather than close the door as we try to enter the mainstream economy?”

Congratulations to the Foskor Supplier Development Program participants:

  • Zufi Projects
  • Engineering Solution Bay CC^
  • Mecheng Industrial Solutions (Pty) Ltd^
  • Khonzi Tarding and projects CC*
  • Mnguni Development Projects CC
  • Glonic Trading CC 
  • Zikhuthaliseni Trading CC
  • Deltron Consulting (Pty) Ltd
  • Inhlanzeko Project Management Services CC
  • TS Cibane Consulting CC*

All companies are 100% black-owned; *indicates 100% black women-ownership; ^indicates 50% or greater black women-ownership

This initiative runs from 27 March - 19 July 2014. In support of its objectives to create the best circumstances possible for corporate members to do business with bona fide black owned businesses, this collaboration between the SASDC and Foskor is the first of many more capacity building and support interventions that the SASDC will be rolling out with its corporate members.

About Pressportal

MyPressportal is geared towards the South African Market only. A press release can have a huge impact on the marketing of your company, as many journalist use press releases to communicate new happenings from all types of companies and NGO's. MyPressportal is FREE. We do not plan not to make this a paid service. If you would like to know more about the system, please read the FAQ.