Investment into transport company unlocks opportunities within hard hit transport and logistics sector


TRANSPORT COMPANY SECURES FUNDING TO EXPAND Investment into DKN unlocks opportunities within hard hit transport and logistics sector DKN Transport, a level 1 B-BBEE contributor with a 30% black female shareholding, has secured funding from The Engen Convoy Fund to enable this proudly South African privately owned

company to unlock additional market opportunities. Headquartered in Johannesburg since 2004, DKN Transport provides road freight logistics solutions across various industries, nationally and cross-border into Africa. With a history of strong financial performance, supported by a professional and capable team, DKN has proven business resilience in a very competitive market and environment. Transport and logistics organisations have been particularly hard hit over the last 18 months, due to the effect of the COVID-19 pandemic and declining demand. The Engen Convoy ESD Fund was established to promote broad-based black economic empowerment (B-BBEE) with the objective of maximising socio-economic development through supporting sustainable supply chain transformation. The fund, which is proudly managed by established small business development specialist Edge Growth, supports SMEs both within and outside of Engen's database by providing growth funding for both capital expenditure and business development. Traditional logistic companies are still critical enablers to achieving economic growth within the African and South African business eco-system, comments Hitesh Dullabh, Investment Associate at Edge Growth. Given the economic impact of COVID as well as the disruption caused by recent events in the country, this investment comes at a great time to contribute to growing the broader logistic supply chain in South Africa and job creation over the long-term . Through this funding, DKN will be able to expand their fleet size and market offering, with additional job creation as a result. We are really pleased about this investment into DKN Transport, which has come at an opportune time, given the tough economic environment we find ourselves currently operating within, says DKN Director Nevenka Naidoo. This funding will allow us to continue to drive our customer centric ethos thereby strengthening our key client partnerships, as well as support us in being a prolific employer, she says. Ends The Engen Convoy Fund is an Enterprise and Supplier Development Fund to promote broad-based black economic empowerment (B-BBEE), with the objective of maximising socioeconomic development through supporting sustainable supply chain transformation. The Engen Convoy Fund supports SMEs (companies with less than R50m turnover) within and outside of their databases. It provides access to finance for both capital and business development needs for entities that are at least 51% black-owned and/or black-female owned. How it Works: The Convoy Fund provides relaxed requirements for securing business loans to qualifying ESD SMEs and investment business development support for the selected beneficiaries. This is to ensure the long-term sustainability of these SMEs. The fund is managed by Edge Growth, a registered credit provider, and is governed by Engen's Internal Transformation Committee, overseeing the disbursement and approval of funds. Edge Growth is a leading SME and Venture Fund Manager, specialising in developing small businesses and creating jobs and real transformation by connecting corporates and entrepreneurs, growing SMEs by addressing their key constraints: Access to finance, markets and skills. Our offering consists of three services areas, designed to achieve maximum IMPACT: ESD Strategy for corporates & building SMEs in their value chain Investing in and growing SMEs through fund management Scaling businesses to full potential through accelerator programmes If you would like more information, please contact Linda Erasmus at +27 10 001 3715 or email at [email protected]

Posted By : leigh
Organisation : csm
Website : https://edgegrowth.com