Novus Holdings is committed to making a sustainable difference within the communities in which we operate, through our Future Foundations initiative. The principle behind Future Foundations is the approach of giving ‘a hand up, not a hand out’. This is essentially how the Group approaches all social investment projects and is something that sets this programme aside from all others.
By contributing to the development of relevant small, medium and micro enterprises (SMMEs), these enterprises will be able to grow sustainably – via a supportive hand-up rather than a dead-end hand-out approach – and will be poised to create much-needed employment opportunities for school-leavers and the unemployed.
While the Group has narrowed its funding objectives from a substantial list provided in the amended B-BBEE best practice codes, it has also identified two important forms of SMME development, which are defined below:
In this form of development, SMMEs that are not part of the Novus Holdings supply chain are assisted with financial investment and other needs (i.e. equipment, skilled staff). In time, beneficiaries of ED may be asked to migrate across so as to become valuable members of the Group’s supply chain.
The Group’s ED beneficiaries include: Songo Africa, Drink Dispense Services (DDS), and Inyozi Empowerment.
Two passionate young entrepreneurs, Nomcebo Nhlabathi and Sanele Sibandze, had in mind to open a clothing and promotional gifts company in their native KwaZulu-Natal. Songo Africa, which was born in 2004, is derived from the Nguni – “Songo” means “adding flavour”
Drink Dispense Services (DDS).
A leading provider of draught and fountain services, Drinks Dispense Services (DDS) was founded in 1995 when a Joburg division of SAB began outsourcing its Draught Beer Servicing Unit. This owner-managed business has grown over the past two decades to service in excess of 20 000 pubs, restaurants and retail outlets throughout Africa
Initially known as the Cadiz Enterprise Development Investment, Inyosi Empowerment came into being after a rebrand and relaunch that took place in 2016. It is a specialist fund that provides finance, in the form of loan capital at affordable interest rates, and ancillary support to black-owned businesses and beneficiaries.
This approach involves a significant investment in business development, market opportunities, equipment/manpower and/or financing, where it is of direct benefit to the Group’s supply chain. SD is also more likely to directly affect the company’s overall profitability and to improve the total added value from the supplier.
The Group’s SD beneficiaries include: Pem Finishing, Rodco Finishing, and Van’s Bookbinders
Established in 2006, PEM Finishing is the brainchild of Patrick Avontuur and Ernest Maasdorp, who wished to become financially independent in their own right and also to provide employment for the previously disadvantaged of South Africa. Today, PEM Finishing employs 232 permanent and 133 fixed-term staff members
Another supplier of Novus Holdings is Rodco Finishing, which was established five years ago, in June 2012. Their vision is to become a preferred supplier of hand-finishing services to the Group, while simultaneously creating employment and empowering staff with development opportunities.
Based in Epping Industria, Van’s Bookbinders is a 100% black-owned bookbinding and print-finishing company, which was established in 2001 with just 10 employees and has grown over the years into a permanent staff contingent of 30.