Food retailer Shoprite Holdings will be announcing a black economic empowerment (BEE) initiative with the Department of Trade and Industry’s credit facilitation agency for small and medium enterprises, Khula Enterprise Finance, on Wednesday.
Shoprite said on Monday the innovative sustainable business venture, via its OK Foods division, will create positive spin-offs for BEE in South Africa by giving previously disadvantaged small businessmen a unique opportunity to enter the lucrative retail trade through the granting of OK Foods concessions on easy interest and stock repayment terms.
Dual guidance by OK Foods and Khula in terms of outfitting, training and mentorship promised to deliver maximum viability for entrepreneurs undertaking to participate in the ground-breaking initiative. — I-Net Bridge