SAVCA reveals industry award winners
The awards recognise companies that have thrived from private equity and venture capital investment.
The Southern African Venture Capital and Private Equity Association (SAVCA) recently announced the winners of the inaugural SAVCA Industry Awards, held in partnership with financial services firm, Investec.
SAVCA is the industry body and public policy advocate for private equity and venture capital in Southern Africa. It represents about R165 billion in assets under management through 170 members that form part of the private equity and venture capital ecosystem.
The objective of the awards was to recognise the portfolio companies that have thrived from private equity and venture capital investment. The awards also promote the positive impact that businesses have on job creation and the economy.
Craig Dreyer (pictured), SAVCA Chairman, said all investee companies participating in the awards are “proof of the positive impact private business can have on the South African economy.” Dreyer said the success of this year’s winners is testament to the ability of private equity and venture capital investment to drive real economic growth and development across the country.
The three 2018 category winners are:
2018 SAVCA Industry Award for Best Small Company: SweepSouth
SweepSouth is an on-demand online platform for booking home cleaning services by connecting households with domestic workers.
Nominated by the Vumela Fund, managed by Edge Growth, SweepSouth has grown from just three domestic workers and two co-founders when the business started in 2014, to employ 38 people in-house and 8,000 “SweepStars” across South Africa.
Since 2015, when the Vumela Fund came on board, the annual revenue has grown by 1,050 percent over the term of the capital injection, with gross profit having grown in this time by 100 times since the inception.
2018 SAVCA Industry Award for Best Medium-Sized Company: Vumatel
Vumatel is a provider of the fibre-to-home and internet. Vumatel was nominated by Vantage Capital for the role it has played in providing connectivity, and the job opportunities the company has created. Vumatel’s staff compliment has increased to 660 permanent staff and 4 000 contractors used.
Since receiving R250 million of growth capital to fund its expansion in 2016, Vumatel has grown its subscriber base from less than 3,000 and 30,000 homes to over 63,000 subscribers and 200,000 homes by 2018.
As part of its efforts to bridge the digital divide, Vumatel has installed free fibre in over 150 primary and high schools, positively impacting around 120 000 learners.
2018 SAVCA Industry Award for Best Large Company: Tsebo Solutions Group
Nominated by Rockwood, Tsebo Solutions Group is South Africa’s third-largest outsourced services provider in catering and facilities management. It operates in 27 countries with five service lines and over 39 000 employees.
Managing director Clive Smith maintains that the assets of the company are the employees and customers, and almost half of its revenue is paid to staff monthly in the form of salaries. The group trains about 50,000 people on a two-year cycle, at a base level. Further to that there is significant management training, from supervisory and middle management to executive management.