By Excel Fongoma
Sourcefin and the Black Management Forum (BMF) have announced an innovative partnership that promises to drastically change the financing environment for small, medium, and micro businesses (SMMEs) in South Africa.
SMMEs are essential to economic growth, accounting for millions of jobs and over 40% of the nation’s GDP. However, a lot of these companies are still hindered by a persistent lack of funding and inadequate support systems.
The new three-year collaboration aims to tackle these entrenched challenges by combining Sourcefin’s innovative fintech funding model with BMF’s policy influence and empowerment strategy for black business leadership.
Together, they hope to not only provide critical financial resources but also foster sustainable growth and inclusive economic participation.
Jordan Hertz, Chief Commercial Officer at Sourcefin, highlighted the pressing nature of the funding gap.
“South Africa’s economy is deeply reliant on the opportunities created
by small, medium and micro enterprises (SMMEs). Yet, these businesses are too often denied funding due to limited financial histories and outdated, exclusionary credit assessment models,” Hertz said.
Sourcefin is rewriting the rules of access to capital through an alternative funding model that prioritises the potential and promise within each SMME, rather than rigid, traditional credit metrics. In just four years, the firm has deployed close to R2 billion across more than 1,000 SMMEs a testament to its growing influence in the alternative finance
landscape.
“Our model is forward-looking,” Hertz added. “We evaluate the viability and growth route of a business, enabling them to access the capital needed to thrive and scale. It’s about unlocking opportunity, not gatekeeping it,” he said.
Despite ongoing government efforts to support SMMEs, a staggering R300-billion funding gap remains one that public funding alone cannot close. Private sector involvement, therefore, is not just helpful, but essential.
This partnership marks a significant milestone for the Black Management Forum (BMF), reinforcing its commitment to fostering black excellence in business.
“Sustainable economic transformation and socioeconomic development are only possible when small businesses are given the tools to succeed,” noted BMF President, Mpho Motsei.
For an organisation long dedicated to championing the advancement of black professionals and business leaders, the alignment with a funding partner presents a powerful extension of its mission from thought leadership and advocacy to direct economic empowerment.
While the BMF has historically played a pivotal role in shaping inclusive economic policy and connecting leaders through strategic dialogue and networking, it has faced challenges in addressing the immediate financial needs of SMMEs on the ground.
This collaboration offers a much-needed bridge between vision and execution enabling the BMF not only to influence policy but to participate actively in the delivery of practical solutions for growth. In doing so, it further cements its relevance as both a voice and a vehicle for change in South Africa’s business landscape.
Through this new collaboration with Sourcefin, the BMF gains a powerful mechanism to address these gaps. SMMEs within its network will now be better positioned to access tailored financial support designed specifically for their growth journeys.
“This partnership marks a pivotal moment in our collective efforts to empower South African SMMEs. Through this collaboration, we are not just signing an agreement, we are committing to a future where SMMEs are at the forefront of driving inclusive economic growth, job creation, and meaningful socioeconomic transformation for our nation.”
