SOUTH AFRICA – Edge Growth, through the Engen Convoy Fund, an Enterprise and Supplier Development Fund to promote broad-based black economic empowerment (B-BBEE), has invested in DKN Transport, a level 1 B-BBEE contributor with a 30% black female shareholding.
Through this funding, DKN will be able to expand their fleet size and market offering, with additional job creation as a result.
Headquartered in Johannesburg since 2004, DKN Transport provides road freight logistics solutions across various industries, nationally and cross-border into Africa.
“Traditional logistic companies are still critical enablers to achieving economic growth within the African and South African business eco-system,” said Hitesh Dullabh, Investment Associate at Edge Growth.
“Given the economic impact of COVID as well as the disruption caused by recent events in the country, this investment comes at a great time to contribute to growing the broader logistic supply chain in South Africa and job creation over the long-term.”
With a history of strong financial performance, supported by a professional and capable team, DKN has proven business resilience in a very competitive market and environment.
Transport and logistics organisations have been particularly hard hit over the last 18 months, due to the effect of the COVID-19 pandemic and declining demand.
“We are really pleased about this investment into DKN Transport, which has come at an opportune time, given the tough economic environment we find ourselves currently operating within,” commented DKN Director Nevenka Naidoo.
“This funding will allow us to continue to drive our customer centric ethos thereby strengthening our key client partnerships, as well as support us in being a prolific employer.”
The Engen Convoy ESD Fund was established to maximise socio-economic development through supporting sustainable supply chain transformation.
The fund supports SMEs both within and outside of Engen’s database by providing growth funding for both capital expenditure and business development.