Edge Growth through its Coca-Cola Beverages South Africa (CCBSA) Fund has invested an undisclosed amount in Bashumi Instruments & Control Services (BICS), a South African 100% black Female owned company.

The BICS funding is in the form of long-term debt, which will provide increased capacity and improved agility for the company where job creation and long-term sustainability are front and foremost in planning.

BICS specialises in supplying laboratory equipment, consumables and specialised chemicals as well as related installation and repair services to both the public and private sectors.

“BICS has had a long history of quality service and have an established client network. Due to the ever-evolving nature of supplier repayment terms both internationally and locally, there is a pressing need to remain liquid to be able to grow as an SME. We believe that the relationship we have built with the company will lead to continued revenue growth and market share,” said Vuyiswa Nzimande, Edge Growth lead deal maker.

BICS was established 17 years ago as a black female-owned company by founder Lomo Senoamadi.

Since then, BICS has faced constantly changing industrial dynamics, radical IT advances and service orientation challenges.

With its target market also evolving to the globalized standards of business, BICS is an organisation that has learnt to re-invent itself and is recognised today for their quality products and efficient customer service.

“We are delighted and indescribably grateful to receive the funding from the CCBSA SME Fund. This has been an amazing, demanding and deeply insightful journey. The funding came at the opportune time… just after we celebrated 17 years in business. We find ourselves ready to take BICS to the next level,” said Senoamadi.

“Going through the application process has helped us improve our business processes and prepared us for the growth that we yearn for, and that we know is required in order to expand our capacity to serve our industries even better.”

CCBSA Fund is focused on supporting the growth, development and sustainability of majority black-owned suppliers.

This fund is making R20m a year available over five years, which commenced in 2019, to help existing suppliers access the funding they need to deliver on new and existing contracts, increase market access and successfully implement their respective growth strategies.