Historic Supply Chain Finance milestone for Addendum and Mr Price Group.
2024 has been a transformative year for South African Supply Chain Finance, with Addendum and the Mr Price Group achieving groundbreaking milestones placing both South Africa and the African continent firmly on the global Supply Chain Finance (SCF) map.
Breaking Global Barriers in SCF innovation
In collaboration with Mr Price Group, Addendum launched a cutting-edge SCF programme that has gained international acclaim. This programme earned four prestigious awards at two globally recognised SCF competitions: Working Capital Forum Europe Awards 2024 and the SCF Community Awards 2024.
In a historic sweep of Gold Awards, Addendum and Mr Price Group achieved several local and global firsts:
- Gold at the Working Capital Europe Awards 2024: First-ever South African and African SCF programme to win this honour.
- Record-breaking scores: Highest marks in the nine-year history of the Working Capital Europe Awards.
- Dual Gold wins: First SCF programme globally to win Gold at both the Working Capital Europe Awards and the SCF Community Awards in one year.
“The multi-bank, multi-currency, multi-country programme attracted a perfect score from this year’s judges on almost every criterion.” – Working Capital Forum Awards.
While global recognition is not new for Addendum, the level of acclaim it has garnered this year in partnership with Mr Price Group goes beyond celebrating individual business success. These achievements firmly establish South Africa – and the broader African continent – as a global leader in Supply Chain Finance innovation.
The drivers behind this groundbreaking win
The success of the Addendum-Mr Price Group collaboration lies in its balance of financial sustainability, supplier empowerment, and operational innovation, creating transformative, win-win solutions for buyers and their supply chain partners.
The judges for both awards were unanimous in their reasons on why this programme stood out:
Inclusivity: Tailored solutions for diverse supplier needs, including Shariah-compliant financing and legally compliant options
Innovative financing models: Rapid supplier onboarding and seamless integration with ERP systems for automated processes.
Operational Efficiency: Flexible, low-cost liquidity through SCF and invoice financing options.
Scalability and impact: High supplier participation rates and financial benefits across multiple countries and currencies.
By addressing unique supplier needs while maintaining financial sustainability, the programme has set a new standard for SCF initiatives worldwide.
“This year’s Gold Award winner has presented incredible flexibility and innovation in their Solution by addressing Supply needs through flexible and comprehensive solutions they have set a high standard for the industry” – SCF Community
Inspiration for South African and African Companies
Addendum and Mr Price Group’s success highlights the transformative power of Supply Chain Finance to promote growth, sustainability, and empowerment within supply chains.
This achievement also showcases the potential of South African companies to excel in this highly competitive and complex field. It is more than a win for these organisations—it’s a win for Africa, proving that the region has the talent, expertise, and vision to drive global financial innovation.