Approximately 500 delegates representing 250 Africa-based small and medium businesses recently pitched their products to Massmart buyers at the Massmart powered by Walmart Growth Summit.
In a video address, the Honourable Minister of Trade, Industry & Competition, Mr. Parks Tau said, “This summit is testament to the power of collaboration between government and the private sector, between local entrepreneurs and global markets and ultimately between vision and opportunity.” He reminded summit participants that every contract awarded would strengthen South Africa’s manufacturing base and urged them to seize the opportunity, engage meaningfully and build networks to take their businesses forward.
The summit provided small business with the opportunity to pitch their products directly to Massmart buyers in 30 temporary pitch meeting rooms that were specifically constructed at the summit venue for this purpose. Pitch meetings were held every 40-minutes throughout the day. Commenting about this arrangement Massmart Chief Merchandise Officer, Herman Venter said, “An industry-wide challenge for smaller businesses is to identify and connect with the right buyers for their products. The Growth Summit overcame this hurdle by scheduling meetings between prospective suppliers and buyers in a single place. To achieve this, we had 125 Massmart buyers at the event with the specific purpose of meeting and developing business relationships with participating small business suppliers.”
Remarking after her pitch meeting, Nokukhanya Mncwabe, Co-Founder and CEO of Africa Liquor Company said, “Participating in the summit was a great opportunity for my business, I am grateful for all the information that was available to help us in advance, which demystified the retail landscape in addition to helping us prepare for our pitches. My obvious highlight from the summit is the prospect that our Matawi Honey Liqueur will soon be available in Makro stores and I cannot wait to get started.”
Mncwabe was one of more than 60 summit participants who received a highly sought after golden ticket which represents Massmart’s intention to list a supplier’s product, subject to final verification of information shared in the pitch meetings. Golden tickets were awarded for a wide range of products including spare-ribs, instant porridge, sauces and other condiments, condensed milk, chilli oil, floor polish, patio furniture, and plant pots.
A key objective of the summit was to ensure that all summit participants left the event with a path to potential future growth by gaining a clear understanding of the specific actions needed to develop a business relationship with Massmart.
