Irish company Aztec Money, which operates an international, open-access marketplace for export trade receivables and invoices, has handed over sports kit to a school in one of Cape Town’s townships in support of the Desmond and Leah Tutu Legacy Foundation, a sign that it is looking to integrate itself further into the South African market.
Inspired by way in which Archbishop Desmond Tutu and his wife Leah recently celebrated their birthdays, the leading international trade finance group has stepped in to support Marconi Beam Primary School, in Joe Slovo township at Milnerton in the Cape.
The company recently sponsored the Eurofruit Congress Southern Hemisphere in Cape Town, and has since met with a large number of companies in the country’s fresh produce sector to discuss its business model, which is aimed at providing easier access to trade finance in an industry characterised by a long supply chain and, often, a slow flow of funds back to growers and exporters.
“We are pleased with our reception and see great potential to grow our business in South Africa and Africa as a whole,” said Colm Devine, Aztec Money's executive responsible for establishing the company’s business in South Africa.
The Tutus’ example of supporting less privileged communities apparently prompted Aztec Money to donate sports kits to the Marconi Beam Primary School, where a training field has recently been upgraded as part of Leah Tutu’s 80th birthday celebrations.
“Our philosophy of providing all business with an equal opportunity to compete, irrespective of size or profile, forms the basis of establishing a paradigm for finance as a force for change, growth and collaboration as opposed to finance for the profit of financiers,” noted Aztec Money CEO Edwin Hagan Emmin.
“In this spirit of facilitating business communities to take control of business funding needs, we greatly admire the contribution of Archbishop Tutu and his family in increasing the welfare of so many, and we are delighted to assist with the outstanding work of the Desmond and Leah Tutu Legacy Foundation.”
Reverend Mpho Tutu, executive director of the Desmond and Leah Tutu Legacy Foundation, thanked Aztec for the “generous donation' and for 'keeping the momentum going on this lovely community project”.
“Aztec Money is specifically keen to support smaller stakeholders in the business community, typically those overlooked or under-serviced by traditional financial products,' added Emmin. 'By providing open access to funding, on terms the supplier chooses, Aztec Money can help create the multiplier effect necessary to grow strong export clusters and support export communities.”
Aztec Money has also indicated an interest to support other sports teams in South Africa’s rural communities as part of its community involvement in the country.
“We believe that sport is an important catalyst for change and with our initial focus of our business development in South Africa focusing very much on the fresh produce export trade, the beneficiaries will most likely be on some of the country’s fruit farms,” explained Devine.
“We are entering South Africa with a unique financial trading model which will bring great benefit to fruit growers, exports and companies involved in the export trade. It will however not end there and will be applicable to business far outside the fresh produce industry.”
