MACSTEEL has garnered two prizes at the Absa Business Day Supplier Development Awards, which recognise and celebrate businesses committed to building a better South Africa via inclusive and transformed supply chains. Macsteel won the Small Supplier and Local Manufacturing Award in acknowledgement of companies that have developed an ecosystem of small suppliers, manufacturers or value—add services and products from the local industry.
It was also recognised as a partner in South African Breweries market access platform (MAP) steering committee, which collected the Collaboration Award in acknowledgement of companies that recognise the importance of industry relationships and cross-sector collaboration for the benefit of the wider ecosystem. Together with SAB, Total, KFC, General Electric and Coca-Cola Beverages Africa, Macsteel’s involvement in the MAP Steering Committee supports preferential procurement and localisation in the spirit of collaboration and towards building a more resilient economy.
”These awards are truly meaningful to Macsteel, as they are testament to how we truly go beyond the scorecard and show true leadership, co-operation and long-term commitment in sustainably building our economy,” said Kim Allan, Macsteel’s group corporate social responsibility manager.
In three and a half years, Macsteel has invested R272 million in the development of its enterprise and supplier development initiative, the Macsteel Usizo supplier development programme. This initiative is designed to strengthen the capacity of SMMEs within the steel manufacturing sector to better enable them to deliver high quality, fabricated products at competitive prices.
Allan says the company’s strong belief in providing sustainable support led to the development of Usizo, offering small-business customers a sustainable solution to overcome their operational limitations. Macsteel was the first corporate to enter into a private-public partnership with Sefa (Small Enterprise Finance Agency), and the first in the steel industry to implement a supplier credit programme.
She says the initiative comprises three key components: providing less stringent access to trade credit for small businesses with favourable cash flow terms, in order to bring previously excluded entrepreneurs without collateral into the credit value chain; providing programme participants with access to non-financial support through business mentorship and industry-related transfer of skills; and third, by deliberate action to provide further access to market opportunities for SMMES in the Usizo programme. The project was launched in May 2015 in partnership with Sefa.