Analytics Made Easy - StatCounter

MTN Xlerator is MTN South Africa’s enterprise supplier development (ESD) programme that plans to increase MTN’s procurement spend by R4 billion over two years with 51% black-owned SMMEs. The programme plans to double the number of SMMEs on its supplier database and will uplift them through business strategy development, skills development, and improved funding access.

Payabill, the SME financing fintech,  has been chosen by MTN as one of the finance partners for its Xlerator programme. Payabill provides simple access to funding to South African SMEs. Payabill will feature alongside other selected lenders and banks in MTN’s programme. Payabill welcomes MTN as another partner to achieve Payabill’s objectives in giving SA’s SMEs a chance to compete and grow.

Managing cash flow is a real challenge for SMEs across sectors. Payabill was founded to assist those businesses that don’t have sufficient funds to buy stock, assets or services from suppliers who demand cash upfront.

Payabill targets SMEs with annual revenues between R500,000 and R30 million, giving them working and other capital to grow their businesses. It offers various forms of finance including local and international trade finance, as well as asset finance.

Explains Eli Michal, Payabill CEO: “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.”

As part of the arrangement, Payabill will also actively introduce and enhance the opportunities of its qualifying clients to the MTN Xlerator programme.

“Small businesses are neglected by banks and other lenders due to high perceived credit risk, and associated costs of assessment and collection. SMEs see these lenders as having onerous credit requirements to keep them out. Payabill is different. Payabill is welcoming, quick and easy to deal with and can provide funding in hours due to its bespoke credit methodology,” says Michal.

The MTN ESD programme is open for SMMEs that have been in operation for at least six months, are at least 51% black-owned, achieve an annual turnover of R500m or less and have daily operations that black managers in key positions manage.

Charles Molapisi, MTN SA CEO adds, “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.”

Michal adds, “We take risk where it matters – at the coalface of SA’s businesses – by helping smaller businesses that have little security and struggle to get funding. We pay suppliers when sales aren’t yet guaranteed and take risks where no one else would consider it. We are intent on helping those businesses locked out of the market at a time when SA businesses need all the support they can get.”

To apply for MTN Xlerator go to www.mtn.co.za/xlerator/

To check if you qualify for finance in minutes go to www.payabill.biz

Verified by MonsterInsights