It’s certainly a feat worth celebrating in the petroleum sector, an area in which there is a negligible minority of black entrepreneurs.
Chevron South Africa’s Chevron South Africa’s Caltex Branded Marketer programme, which was developed to help integrate new entrants into the value chain of the petroleum retail market, is making a huge difference in the development of black entrepreneurs, according to Price Njokweni, general manager: sales and marketing support – Chevron South Africa.
“In the last 10 years, Chevron South Africa has played a significant role in transforming the fuel industry in South Africa with the introduction of the Branded Marketer business model.”
Njokweni explains: “The model has proved to be a huge success with an aggregate of 73% black ownership. In the Eastern Cape alone, the acquisition deal by the Branded Marketer model makes it the largest Caltex fuel marketer in Chevron South Africa’s Africa region, totalling 101 outlets.”
Furthermore, Njokweni says that the partnership has allowed the company to increase its retail presence in historically disadvantaged communities that were underrepresented to begin with. “These outlets have served as the centre for economic activity in some rural communities and have contributed significantly to the creation of direct and indirect jobs.”
The Branded Marketer partnership has reached a strategic 10-year milestone with 11 black empowered companies, which together account for 53% of Caltex’s retail volume (South Africa and Botswana), across 432 Branded Marketer supplied service stations in South Africa and another 32 in Botswana.
