MTN has selected fintech firm Payabill as a finance partner for the Xcelerator programme.The programme will see procurement spend increase by R4 billion over the next two years.In this program, MTN South Africa looks to support the businesses it works with through fund injections, training and more. The network operator says that it plans to expand procurement spend in the programme by R4 billion over the next two years.
“MTN Xlerator is a symbol of our unwavering commitment to progress, innovation, and empowerment. We believe in the enormous, unearthed potential within South Africa. At MTN, we believe in the evolution of empowerment and our goal is to transition from a transaction-based supply chain to a values-based one, ensuring everyone enjoys the benefits of a connected world while building a better tomorrow,” MTN South Africa’s chief executive officer, Charles Molapisi said in a statement.
“We are excited to have been selected by MTN to partner on its Xlerator programme. Payabill has already paid many suppliers in most sectors chosen by its customers all over the country,” CEO at Payabill, Eli Michal said in a press release. The CEO says that through Xcelerator, Payabill will be able to reach more SMEs while also improving the service it offers to its existing clients.
“Small businesses are neglected by banks and other lenders due to high perceived credit risk, and associated costs of assessment and collection. SMEs see these lenders as having onerous credit requirements to keep them out. Payabill is different. Payabill is welcoming, quick and easy to deal with and can provide funding in hours due to its bespoke credit methodology,” adds Michal.while taking note of the eligibility requirements.
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