SAB Thrive Fund appoints Edge Growth as Fund Manager
The South African Breweries (SAB) is proud to announce that Edge Growth has been appointed as the Fund Manager of The SAB Thrive Fund. Edge Growth is a small business development specialist that has been operating in the industry for over 10 years and is excited to be part of The SAB Thrive Fund family. As fund managers their aim will be to transform suppliers within the existing SAB supply chain.
The SAB Thrive Fund is an Enterprise & Supplier Development fund that is 49% owned by SAB and was created to invest and transform suppliers within the SAB supply chain.
Since inception in 2016, SAB has invested more than R200 million into The SAB Thrive Fund which formed part of its Public Interest Commitments (PIC) and efforts to create a diversified and inclusive supply chain by supporting the growth of black-owned suppliers through business development, support and growth capital. Additionally, The SAB Thrive Fund has successfully placed 12 black principals in the respective operating companies, this forms part of the Fund’s objective of including historically disadvantaged individuals into the businesses leadership and management structure of their organisations.
Richard Rivett-Carnac, SAB Vice President: Finance, Legal, Corporate Affairs RoA, says “We are delighted to have Edge Growth as fund managers of The SAB Thrive Fund, they bring an excellent team and proven track record that will help diversify our supply chain even further.”
Edge Growth is committed to providing operating companies with the following:
- Facilitate the redeployment of funds into new suppliers which will service gaps in SAB’s supply chain
- Support the integration of the black principals in the management structure and support of the organisation’s overall transformation;
- Leverage Edge Growth and SAB networks to provide operating companies with business development and opportunities for diversification
- Provide business coaching and mentoring to black principals
Edge Growth’s Richard Rose says “The SAB Thrive Fund’s objectives aligns closely with our own SME development goals and we’re excited to help the portfolio continue to grow strongly and create meaningful socio-economic impact in South Africa.”
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