SMEI Projects was yesterday named the first winner of Go4Growth, South Africa’s richest business competition with prizes worth a total of more than R14-million.
The first prize covers all costs associated with a listing on the JSE’s AltX exchange, business advisory services, business software from SAP valued at R1-million, and all designated advisory fees from Xchange Sponsors for the first year after listing.
The Boksburg-based construction firm was judged the most growth-oriented SME from a shortlist of 10 finalists, drawn from 206 entries to the Go4Growth competition.
The 206 Go4Growth entries came from companies with annual turnover ranging from start-up to R500-million. The entry list included firms from more than 20 different industry sectors including IT, engineering, transport, industrial, retail and medical, as well as companies of all sizes ranging from one employee right through to companies with 500-plus people.
SMEI Projects is a construction company working in the structural, mechanical, electrical and instrumentation fields. Its main sources of business are the mining and heavy industrial sectors. Clients of SMEI Projects include blue chip companies such as Anglo Platinum, De Beers, De Beers Marine and all of the EPCM contractors in South Africa. Total staff complement is 650 people.
The company’s growth record over the past four years clearly impressed the judges with revenue growth exceeding 100% per annum for each year of the period.
Sandy Pratt, MD of SMEI Projects, received the award from JSE CEO Russell Loubser and SAP South Africa managing director Claas Kuehnemann at a function at the exchange last night.
The Go4Growth competition was aimed at identifying South Africa’s most growth-oriented SME and at encouraging companies to look to the AltX as a means of raising capital to grow.
The partners supporting the Go4Growth initiative are: business software leader SAP, the JSE’s AltX exchange, official AltX sponsors Xchange Sponsors and business growth advisors, SAP BusinessEdge.
The winner will be guided by Xchange Sponsors through the process of meeting the AltX’s listing requirements.