CASE STUDY: VIBRAMECH
A strong BEE scorecard is essential for doing business in South Africa’s mining sector. Vibramech, South Africa’s largest manufacturer of vibrating mineral processing equipment, entrusted Riversands to deliver maximum BEE scorecard benefit across the pillars of Enterprise and Supplier Development, Skills Development and Socio-Economic Development.
Since September 2016, Vibramech’s funding for projects at Riversands Incubation Hub has improved access to economic opportunities for a growing number of emerging entrepreneurs. These include entrepreneurs first forming a business to established entrepreneurs operating for a number of years.
Funds were allocated establish the Riversands Agri-Hub to create a new generation of ‘agripreneurs’ who are set to take advantage of the market opportunities in the areas surrounding Riversands
Using Vibramech’s funding, Riversands also established a retail showroom for all the SMEs to sell their wares. Known as ‘The Yard’, the showroom is open during office hours and has seen a steady increase in turnover during the start-up phase. More than 50 entrepreneurs benefit from the market access opportunities created by The Yard.