BBCBE signs MoU with Access Bank


BBCBE President Danny Masimene; Access Bank CEO Abiodun Dada; and BBCBE deputy president Bafana Dube
Photo by Creamer Media's Sabrina Jardim
Nonprofit organisation the Black Business Council in the Built Environment (BBCBE) has signed a memorandum of understanding (MoU) with financial services firm Access Bank to unlock significant financing and acceleration for projects in the built environment.
To address the challenge of access to finance in South Africa, particularly for emerging businesses in the construction sector, the five-year MoU is aimed at streamlining the financing process, reducing delays and ensuring projects are completed on time.
Speaking to Engineering News, BBCBE president Danny Masimene explained that the partnership enabled collaboration with Access Bank and allowed the organisation to monitor the progress in terms of MoU deliverables.
Masimene explained that the BBCBE had tailored MoUs with various stakeholders, such as the National Housing Finance Corporation and the sector education training authority, thereby fostering public-private partnerships and opening up channels of communication for its members.
“We have to make our relationship with our stakeholders official.”
Masimene described the MoU as a mutually beneficial partnership that enabled easier access to finance for BBCBE members, as well as an opportunity for Access Bank to expand its market reach.
“We are very excited to welcome all members of the BBCBE into the Access family,” said Access Bank CEO Abiodun Dada during the BBCBE Business Connect event, held on September 25.
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