What is the Inyosi Supplier Development Investment?
The Inyosi Supplier Development Investment was launched in 2016 to provide a comprehensive solution to supplier development in South Africa. Since 2012 we have worked with and understood the practical difficulties encountered by our investors who want to achieve more than mere compliance with BEE legislation. In addition we have experienced first-hand the shortcomings of the black-owned businesses we have funded. In our view these can be distilled down to three key areas:
- Access to finance
- Access to markets
- Access to skills
The Inyosi Supplier Development Investment has been designed to address each of these aspects for black-owned suppliers. In addition, due to our extensive knowledge and experience in the BEE space, we provide our clients with a comprehensive and professional solution for the enterprise and supplier development element in the BEE Codes.
Our solution addresses fundamental business imperatives without which any business will flounder. It provides investors with an online iHive portal to access black-owned suppliers and it provides working capital to those businesses. This combination of access to markets coupled with access to working capital funding is, in our opinion, a game changer for black-owned suppliers.
From our investors’ point of view this portal allows them the opportunity to get all their suppliers to register, at no cost, on the iHive portal. It furthermore provides them with the ability to manage their suppliers on a real-time basis – ensuring procurement is made from empowering supplier status suppliers.
Access to Markets
Our access to markets solution is a technology-based solution which allows companies to buy goods and services from black-owned businesses. With over 100 000 potential businesses from which goods and services can be acquired we believe that this approach leverages technology and provides companies with an auditable procurement trail. Ultimately this should lead to a reduction in administrative complexity of the procurement process, and provide much-needed access to black-owned suppliers.
Black-owned suppliers who sign up on the portal are afforded a simple and effective way to connect to the market. When any goods or services that they supply are requested by a corporate, they will receive a notification of the potential opportunity. They can then decide whether they wish to quote on the business. In the event that they are successful, they can request working capital funding for the goods and services for which they have successfully received a purchase order from one of our investing companies.