Sourcefin, a leading financial specialist, is proud to announce its collaboration with the City of Joburg’s Department of Economic Development (DED) to empower and support small, medium, and micro enterprises (SMMEs) in South Africa. This transformative partnership aims to foster economic growth, enhance service delivery, and provide crucial financial solutions to the underserved SMME sector.
The Collaboration
The collaboration, formalised through a Letter of Intent (LoI) signed on 21 March 2023, represents the shared commitment of Sourcefin, the City of Joburg, and the DED to support the growth and development of SMMEs in the region. The LoI serves as the blueprint for a strategic alliance that seeks to create an enabling environment for SMMEs to thrive, contribute to the economic prosperity of South Africa, and unlock new opportunities for success.
Why partner with Sourcefin
Sourcefin offers a comprehensive suite of services that goes beyond traditional funding, specifically tailored to address the unique needs of SMMEs. Through efficient and accessible funding solutions driven by smart technology and a dedicated team, Sourcefin empowers SMMEs to fulfil customer orders promptly and access critical cash flow through invoice discounting. What sets Sourcefin apart is its commitment to providing a holistic support ecosystem. SMMEs partnering with Sourcefin gain access to expert guidance in key areas such as procurement, logistics, project management, and legal advice. This comprehensive approach equips SMMEs with the necessary tools to confidently navigate complexities, streamline operations, and achieve successful outcomes.
“We firmly believe in a collaborative growth model,” emphasises Joshua Kadish, Director at Sourcefin. “At Sourcefin, we go beyond being a mere funding provider. We forge true partnerships with our clients, working side-by-side to ensure timely delivery with careful adherence to specifications. Our success is intrinsically tied to the success of our clients, which is why we have embraced a profit share model. We are only rewarded when our clients are, aligning our interests and fostering a genuine commitment to their growth. Additionally, a significant advantage of partnering with Sourcefin is the unparalleled access to our extensive supplier network. By tapping into our network, SMMEs can secure goods at the best prices, maximising their profitability and giving them a distinct competitive edge in the market.”
Empowering SMMEs
The collaboration between Sourcefin, the City of Joburg, and the DED is designed to benefit a wide range of SMMEs across various industries. SMMEs awarded purchase orders by the City of Joburg will have the opportunity to leverage Sourcefin’s funding solutions and comprehensive support services to ensure the successful fulfilment of their orders. The funding amounts and periods will be determined on a case-by-case basis, tailored to the individual needs and requirements of each SMME.
“We are excited about the potential of this collaboration to empower SMMEs and drive economic growth,” says Avi Mishan, Director and Co-Founder at Sourcefin. “Our comprehensive suite of financial solutions and expert guidance positions SMMEs for success. By combining our strengths and working together with the City of Joburg and the DED, we can create a dynamic environment where SMMEs thrive, contribute to the economy, and build a prosperous future for South Africa.”
The collaboration between Sourcefin, the City of Joburg, and the DED holds great promise for the empowerment of SMMEs and the overall economic growth of South Africa. By providing accessible funding, expert guidance, and a comprehensive support ecosystem, this collaboration aims to drive entrepreneurship, enhance service delivery, and foster sustainable economic development.
Partner with Sourcefin
Intrigued and eager to explore how Sourcefin can support your business growth? Take the next step and click here to access our application form for purchase order funding or invoice discounting solutions. Let Sourcefin be your trusted partner in unlocking financial opportunities and achieving your SMME goals. Together, we can drive your success and empower your business for a prosperous future. Apply now and experience the Sourcefin difference.
