In a bold and impactful initiative, Glencore, in partnership with SAICA Enterprise Development (SAICA ED), launched a pioneering Financial Excellence (FEO) programme in 2023. This pilot project, embedded within Glencore’s Enterprise and Supplier Development strategy, was designed to uplift and empower 19 Small, Medium and Micro Enterprises (SMMEs) across South Africa’s Eastern and Western Limb regions.
A unique and targeted approach:
What sets this programme apart is the focus in offering financial expertise to directly support black-owned, youth-led, and women-owned businesses. The results speak volume with 100% of beneficiaries were Black-owned enterprises, 32% were Youth-owned, and 63% were Women-owned. This inclusive approach ensured that the programme not only addressed Financial Excellence, but also contributed to broader socio-economic transformation. Additionally, three SAICA-associated Small and Medium Practices (SMPs) played a vital role in coaching and mentoring the SMMEs throughout the programme.
Practical support with measurable impact:
A standout feature of the programme was the Back-Office Accounting Support, taken up by 84% of participating SMMEs, most from the Eastern Limb. Of these, 63% received one year of free access to SAGE accounting software, a critical tool in modern financial management. The programme also delivered a series of targeted workshops, tailored to the specific needs of each region which included:
- Business Processes, Tax Compliance, Bookkeeping, Risk Management, and Governance in the Eastern Limb area
- Tax Compliance, Business-Personal Finance Boundaries, Growth Strategy, Business Margins, and Ethics in the Western Limb area.
Tangible business growth
The programme’s success is evident in the numbers:
- 10 of the SMMES (53%) of the SMMEs achieved an increase in turnover in their businesses.
- 7 of the SMMEs (37%) achieved an increase in net profit in their businesses.
- 20 new jobs were created by 6 SMMEs in the Eastern Limb region.
These outcomes reflect not just financial improvement, but sustainable business development and job creation.
Voices of success: Participants have shared glowing testimonials
- Lehlogonolo Rarau owner of GLADCON (PTY) LTD reported significant improvements in bookkeeping and financial systems, leading to better decision-making and confidence in financial planning.
- Masehlelele Gloria from MAGLORY'S TRADING highlighted enhanced financial management capabilities and a deeper understanding of sustainability and strategic financial planning.
A model for future development:
This Financial Excellence Programme is a blueprint for how corporate partnerships can drive real change in the SMME sector. By combining financial expertise, practical tools, and a commitment to transformation, SAICA ED have created a model that delivers measurable impact and long-term value.
The success stories and data-driven outcomes make a compelling case for scaling this initiative further. It shows how a focus on Financial Excellence, with even getting the basics of quality Back-Office support, can drive tangible business results and job creation.
