In addition to partnering with the business of the oil major, the agency has secured access to funding from Chevron South Africa to expand its business.
Chevron South Africa’s executive chairman Shashi Rabbipal said in a statement that interest-free unsecured financing has been provided to AVATAR as part of its Enterprise and Supplier Development (E&SD) procurement programme.
“We have identified businesses that are at minimum 51% black-owned and have committed to enhancing their development and growth aspirations through funding, close collaboration and support that includes procurement of their goods and services.
Chevron South Africa recognises that we are in a unique position to influence the growth of our current suppliers to through the power of our E&SD programme.”
Chevron outlined that matching suppliers with business opportunities providessupport for entrepreneurs to grow market share and take their businesses to the next level of expansion in South Africa and globally.
“Capital is the oxygen that fuels entrepreneurs.
AVATAR has gone from start-up to mid-sized agency in five years and access to innovative funding has allowed us to go to the next level with new hires such as an internationally renowned Executive Creative Director, Brett Wild and several critical operational roles that have laid a foundation for our growth,” said Zibusiso Mkhwanazi, Chief Executive Officer for AVATAR360 Group and M&N Brands.
AVATAR aims to grow a sustainable business that creates employment and positions the agency and its founding values into the rest of Africa and beyond as a result of the Chevron funding.
“One of the key pillars in our transformation objectives is the level of support that we provide to entrepreneurs.
They know best how to grow their own businesses and Chevron has the resources to be a strategic partner. It’s a unique proposition and a partnership where mentoring and sustainability are key,” concludes Rabbipal.
