Tuskys has unveiled an ambitious supply chain financing facility in partnership with Diamond Trust Bank that will allow SME suppliers to get their payments for supplies to Tuskys on time. The facility will, in addition, enable SMEs access credit from the financing partner at preferential rates through guarantees from Tuskys.
This will enable SMEs working with Tuskys to have better cash flows to run their businesses and scale up the growth ladder. The Facility will also allow them to access cash before invoices are due.
The budding SME sector in the country is now regarded as the next frontier that will spur the country’s economic growth. The sector provides approximately 80% of employment and contributes to over 92% of the new jobs created annually according to the Kenya National Bureau of Statistics.
The Supermarket has had a long history with SMEs. It has over the years been working with over 1600 SME suppliers, who employ over 160,000 people, hence helping to bridge the unemployment gap.
The Facility with DTB will ensure that this segment remains afloat in the face of hard economic times. So far, Tuskys has already placed 60 SMEs on the platform with DTB.
Most of these dealers supply from as little as Sh500, 000 to Sh5 million monthly.
The retail chain has worked with local manufacturers and has been at the forefront of pushing for the brand #BUYKENYABUILDKENYA that encourages investment in local products.
The regional chain has also launched the inaugural SME Forum dubbed Tuskys Biashara Club, a first in the retail sector, which aims at bringing together SME entrepreneurs who have been key partners and who for many years have been supplying Tuskys with quality products.
Some of the innovative Small businesses that have flourished with Tuskys include:
In liquids on Tap – Tuskys the leader
Aspendos Dairies (on twitter) that worked with Tuskys to launch milk in tap. All other major retailers have now adopted this. It is a great innovation that allows customers to purchase milk in whatever quantity. This has been a solution to most people who find packaged milk expensive.
The milk is clean, safe and hygienic and customers have the freedom to choose the quantity and how much to pay.
Today, Tuskys sells 6000 litres of milk every day on tap, in partnership with Aspendos. Through this innovation, Tuskys is supporting 2000 small-scale dairy farmers in Muranga County.
Tuskys sweet potato bread
Tuskys partnered with CIP international (on twitter) to produce sweet potato bread, through a project funded by Bill and Melinda Gates Foundation. This has been beneficial not only to customers who now have variety in bread selection but has also changed lives of farmers.
Sweet potato farming is supporting 400 small-scale farmers in MIGORI/SIAYA/KISUMU/HOMABAY, who now have a source of livelihood. Tuskys buys 500kg of sweet potatoes root daily from these farmers.
Working with Agriculture through aggregation
Tuskys stocks fresh green vegetables from the farms. In order to provide the fresh vegetables, Tuskys has partnered with aggregators who collect produce and deliver to Tuskys. Tuskys is looking to hook in up to 1000 small farmers of vegetables across Kenya through this model.
Working with the Association of Fashion Designers
This is a new partnership that Tuskys is exploring that will go a long way in enriching the local fashion design sector. This is more so after the recent launch of its first specialty clothing store that targets its over 4 million customers.
