An agreement signed between SPEDU and Ticano Group (Pty) Ltd is expected to improve access to working capital and supply chain finance for businesses in the Selebi-Phikwe area, while strengthening supplier development, investment readiness and market access.
Under the partnerships, Ticano will provide an indicative financing envelope of up to P250 million, subject to applicable funding criteria and assessment. The two organisations stated that eligible businesses may access financing solutions including purchase order finance, invoice discounting, contract finance, asset finance and other working capital facilities.
Ticano Group was established in 2015 to provide unique and creative financial solutions for growing
businesses. The company’s services range from purchase order financing- essentially providing complete supply chain financing to Asset Backed Funding.
According to its website, credit decisions are based upon the creditworthiness of the SMEs buyer and the strengths of the transactions themselves, rather than strictly relying on a balance sheet of the SME.
During the recent Memorandum of Understanding signing event in Selebi-Phikwe, officials of the company stated that the goal of going into the partnership with SPEDU was bigger than financing.
“It is about helping businesses access opportunities, fulfil contracts, strengthen their operations, improve cash flow and position themselves for sustainable growth,” Ticano said.
“Together with SPEDU, we look forward to turning this partnership into tangible opportunities for businesses and contributing to the continued economic development of the region.”
However, the programme will particularly prioritise citizen-owned, youth-owned, women-owned and disability-owned businesses, with a focus on sectors such as manufacturing, agribusiness, tourism, mining services, logistics, renewable energy and the green economy.
On the other hand, SPEDU is a government agency established to drive sustainable economic development in the Selebi-Phikwe area. As a special economic zone, its role is to attract investment, support businesses while creating employment opportunities.
“SPEDU continues to strengthen strategic partnerships that unlock investment opportunities, enhance local participation and drive sustainable economic growth across the region,” the regional economic zone added.
The MOA was signed by the SPEDU Caretaker Chief Executive Officer, Ronnie Phuthego and Ticano Group (Pty) Ltd Chief Executive Officer, Opelo Motswagae.