NEF invests R15 million in KZN ice-cream distributor, Bizcommunity.com – Biz Community
The National Empowerment Fund (NEF), the agency of the dtic mandated to grow Black economic participation in South Africa, has invested R15 million in KwaZulu-Natal-based Sticks and Licks (t/a Ola Ice Cream Durban) to expand its ice-cream distribution business.
Sticks and Licks, which operates as an independent distributor for Unilever SA, intends to use its funding to develop a world-class facility in Ballito, north of Durban. It has a five-year exclusive distribution agreement with Ola SA to deliver its products to its customers, which include supermarkets and garages. Ola SA delivers its products to the company, which then distributes and delivers the products to customers through a team of sales people who travel to customer sites in order to drive sales.