MTN South Africa has launched Xlerator, an enterprise supplier development (ESD) programme through which it plans to increase its procurement spend by ZAR4 billion (US$209 million) over two years with 51 per cent black-owned SMMEs.
The Xlerator programme plans to double the number of SMMEs on MTN’s supplier database and will uplift them through business strategy development, skills development, and improved funding access.
Xlerator is open for SMMEs that have been in operation for at least six months, are at least 51 per cent black-owned, achieve an annual turnover of ZAR500 million (US$26 million) or less, and have daily operations that black managers in key positions manage.
“MTN Xlerator is a symbol of our unwavering commitment to progress, innovation, and empowerment. We believe in the enormous, unearthed potential within South Africa. At MTN, we believe in the evolution of empowerment and our goal is to transition from a transaction-based supply chain to a values-based one, ensuring everyone enjoys the benefits of a connected world while building a better tomorrow,” said Charles Molapisi, MTN SA CEO.
South African SME financing startup Payabill has been chosen by MTN as one of the finance partners for the programme. Payabill, which provides simple access to funding to South African SMEs, will feature alongside other selected lenders and banks in the programme.
“We are excited to have been selected by MTN to partner on its Xlerator programme. Payabill has already paid many suppliers in most sectors chosen by its customers all over the country,” said Eli Michal, Payabill CEO.