Vodacom To Spend R320 Million To Bring Broadband In KwaZulu-Natal

Vodacom will invest just over R320 million into the network across KwaZulu-Natal province during the 2020/2021 financial year. The lion’s share of the capital...

Latest Posts

Vivendi’s Canal+ Increase Its Stake in MultiChoice to 12%

Canal+ has increased its shareholding in pay-TV operator MultiChoice to 12% as the Vivendi’s own company continues to see value in the South African-based firm. MultiChoice...

South Africa’s Economic Reform Ambitions Fall Short Of What’s Required: A Few Pointers

By Matthew Kofi Ocran Over the past two decades various African National Congress (ANC) administrations in South Africa have sought to redistribute income to the...

COVID-19: A Global Survey Shows Worrying Signs Of Vaccine Hesitancy

By Scott C. Ratzan, Agnes Binagwaho, Heidi Larson, Jeffrey Lazarus, Kenneth Rabin, and Lawrence O. Gostin It has been nine months since the World Health Organisation (WHO) declared the...

Teddy Daka’s Etion Explores Asset Sale to Create Shareholder Value

JSE-listed Etion is considering selling off business units to create shareholder value for its investors. The diversified digital technology company did not specify how much...

FinTech Firm ProfitShare Partners Gets R25M from FirstRand’s Vumela Fund

ProfitShare Partners has secured a R25 million capital line from the Vumela Fund, which is managed by Edge Growth Ventures.

Launched in 2018, Vumela’s third fund focuses on supporting high growth SMEs in the banking supply chain with good economic and impact returns – a key driver of ProfitShare Partners value proposition to the SME market.

The Vumela Fund is a R588 million Social Venture Capital Fund that Edge Growth manages on behalf of the Vumela Trustees. The fund is a business with the objective of creating stakeholder value by investing in, growing and divesting of SMEs and providing value-added growth support services to both investee and non-investee companies.

“We’re really excited to have secured the confidence of an established fund like Vumela to continue enabling the SME market through our short-term capital solutions,” says Andrew Maren, founder and CEO of ProfitShare Partners.

“We have unlocked an insatiable market for our offering and the commitment from the Vumela Fund is indeed encouraging to reach more SMEs and create an even greater impact in the market.”

ProfitShare Partners is fast-tracking SME performance and delivery through its profit-sharing business model.

As a short-term capital partner to small business owners, the FinTech company also provides the professional expertise and guidance to help SMEs deliver optimally and avoid the common pitfalls that slows growth.

“We have every confidence that ProfitShare Partners will deliver on the mandate of the fund. The results they have already shown will bring exceptional value to the objectives we wish to achieve – creating and supporting high growth SMEs,” says Mike Sage, Trustee of the Vumela Fund.

“The impact that we’ve seen is impressive and we look forward to accelerating this over the next two years.”

Through its partnership with Edge Growth, ProfitShare Partners is assisting in addressing the gap that exists in the SME environment.

In line with the Vumela Fund’s goal of ensuring sustainability for SMEs to become key contributors to job creation in the economy, ProfitShare Partners is committed to offering immediate capital solutions to SMEs struggling with cash flow to deliver on their contracts and purchase orders in the supply chain of large corporates.

“We’ve managed to grow our book value 400% in one year, highlighting the demand for this type of capital. Each successful deal raises the profile and profitability of our SME clients – ultimately, we want to grow small businesses to become financially sustainable and lose them to traditional financial institutions. That’s when we know we have truly helped our SME’s,” added Maren.

Latest Posts

Vivendi’s Canal+ Increase Its Stake in MultiChoice to 12%

Canal+ has increased its shareholding in pay-TV operator MultiChoice to 12% as the Vivendi’s own company continues to see value in the South African-based firm. MultiChoice...

South Africa’s Economic Reform Ambitions Fall Short Of What’s Required: A Few Pointers

By Matthew Kofi Ocran Over the past two decades various African National Congress (ANC) administrations in South Africa have sought to redistribute income to the...

COVID-19: A Global Survey Shows Worrying Signs Of Vaccine Hesitancy

By Scott C. Ratzan, Agnes Binagwaho, Heidi Larson, Jeffrey Lazarus, Kenneth Rabin, and Lawrence O. Gostin It has been nine months since the World Health Organisation (WHO) declared the...

Teddy Daka’s Etion Explores Asset Sale to Create Shareholder Value

JSE-listed Etion is considering selling off business units to create shareholder value for its investors. The diversified digital technology company did not specify how much...

Don't Miss

Making Sure Your Home Buying Story Is a Love Story and not a Horror Story

It was a dark and stormy summer night. As they curled up on the couch, the couple swooned over the dream home they found...

Using Tech To Bolster Human Connections

by Margaret Nienaber In a strange new world characterised by physical distance, we are rediscovering the value of real human connections – between colleagues, clients,...

Steps You Could Take When You Are Hiring Foreign Employees

Due to their better qualifications or longer experience, you might want to hire some foreign employees in your team. Find out the steps here. When...

Pick n Pay Buys Online On-Demand Grocery Disrupter Bottles

Pick n Pay announced today that it had concluded an agreement to purchase on-demand, online grocery service Bottles.  This will enable Pick n Pay...

What Lessons Can Be Drawn From The MV Wakashio Incident?

By Rubesh Doomun PORT LOUIS, Mauritius -- Much ink, and oil, has already been spilled about Mauritius having to deal with an ecological catastrophe. A...

Stay in touch

To be updated with all the latest news, offers and special announcements.

%d bloggers like this: