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File photo: Courtesy of FNB
FNB and Vodacom are pleased to announce the signing of a Memorandum of Understanding (MoU) with the aim of offering financing solutions to Vodacom’s eligible supplier base. This agreement includes the provision of short-term financing solutions to support and enable suppliers to perform on their awarded purchase orders or contracts by Vodacom.
According to Diresh Naicker, Head of Commercial Banking at FNB , “this memorandum of understanding reinforces FNB’s commitment to economic growth and sustainability in the country. By improving access to funding solutions, we help to drive economic development and crucially the creation of additional jobs. This promotes financial inclusion, empowering businesses and a key to unlocking business potential for particularly small and medium enterprise businesses. Supplier finance is therefore not just a financing solution – it’s a catalyst for growth.
Our collaboration with Vodacom is a significant step in this direction, ensuring satisfactory performance capacity and financial integrity of the selected suppliers. This agreement also promotes transparency and trust between all parties involved. We are excited about the potential this partnership brings to foster a more robust and resilient business environment in Mozambique.”
For Julia Nsaleni Tembe, Head of Legal, Risk and Compliance at Vodacom, “today marks a significant milestone in our journey as we reaffirm Vodacom´s commitment with the development of Mozambique through impactful collaborative platforms. It forms part of our vision of connecting Mozambique to a prosperous future. Through our extensive value chain, which includes distributors, agents and suppliers, Vodacom connects millions of lives and businesses to valuable economic opportunities.
We recognize the crucial role that small and medium enterprises play in the economy, but also the challenges that these entities face in providing goods and services to larger corporations. These are challenges such as capacity, access to funding and sometimes just the opportunity to get through the door and have a conversation.
We believe that this partnership with FNB will provide the PMEs with invaluable tools to scale their businesses”.
This Memorandum of Understanding marks the beginning of a strategic collaboration between FNB and Vodacom, aimed at strengthening financial support for companies and suppliers, promoting the growth and sustainability of local businesses.
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