SAICA ED and Sasol ESD kick off Financial Excellence programme to improve 90 small businesses.

SAICA Enterprise Development (SAICA ED) and global chemicals and energy company, Sasol , have partnered together to implement an Enterprise and Supplier Development (ESD) Programme that will empower 90 Small and Medium Enterprises (SMEs) within the following regions nationally, namely, Durban, Ekandustria, Johannesburg, Emalahleni, Pretoria, Nelspruit, Sasolburg and Secunda.

Sasol Enterprise and Supplier Development (SESD) approached SAICA ED to implement a customed ESD solution which will focus around ‘Financial Excellence’ in SMEs. This programme is aimed at improving SMEs’ financial management systems to run effective operations and create business sustainability and will run for one year.

Sasol Head of Enterprise and Supplier Development, Jabulile Ratsibe: “Through our partnership with SAICA Enterprise Development, a renowned organisation in financial education and support, we strive to empower small businesses with the necessary tools and knowledge to navigate the complex financial landscape. Our goal is to enable them to optimise their operations and confidently seize growth opportunities. This initiative complements the existing funding solutions we offer to support SMEs”

“SAICA ED’s intent for this programme is to mobilise selected members from all designations of the SAICA profession to assist Sasol in promoting Financial Excellence in the SMEs. Through these rigorous interventions we hope to optimise business performance and develop financially astute SMMEs that are compliant and credible through Accounting Support Services,” says project manager, Vashna Rawjee, SAICA ED.

SAICA ED is part of the Learning and Development division of The South African Institute of Charted Accountants (SAICA) and runs Enterprise and Supplier Development (ESD) programmes – particularly focusing on black-owned initiatives – with the goal of growing the SMME entrepreneurial ecosystem for greater sustainability.

Through this partnership, the SAICA ED Financial Excellence programme will assist and implement the following interventions:

·?Deep Dive Financial Diagnosis and Assessment of all the SMEs.

·?Financial Coaching interventions that include forecasting and access to funding preparation.

·?Affordable Accounting and Back Office Support, and

·?Financial Bootcamps and workshops.

All SMEs will be tracked in terms of their business development and their growth against the initial financial deep dive. This will be achieved by establishing solid financial recordkeeping practices, as well as coaching the SME owner in financial management systems and effective cash flow processes.

Currently SAICA ED has completed SME induction sessions in the regions and interventions will begin shortly.

Sasol Head of Enterprise and Supplier Development, Jabulile Ratsibe: “This collaboration exemplifies our ongoing commitment to foster an inclusive and thriving small business ecosystem. By investing in the strengthening of financial management practices and operational capabilities of small businesses, we are not only driving sustainable growth but also unlocking their potential to access funding, create jobs and uplift communities in the areas where we operate.”

“SAICA ED as well as Sasol play an active role in promoting sustained, inclusive, and sustainable economic growth and productive employment and decent work for all, goal 8 of the UN Sustainable Development Goals. With a continuous passion to see development and transformation in South Africa's entrepreneurial ecosystem, SAICA ED is thrilled with this new partnership with Sasol and is very excited to further its reach in the Energy and Chemicals sector through this strategic partnership aimed at assisting SMEs,” adds Annie McWalter, SAICA ED Chief Executive Officer.?