Winner: Mr Price Group Limited 

Partner: Addendum Financial Technologies 

 Mr Price Group Limited, in partnership with Addendum Financial Technologies, has won the SCF Gold Award for 2024, the most prestigious award given by the SCF Community to the corporate that most distinguished itself in working capital and supply chain finance. Mr Price Group’s success follows their win in the category Innovation in Approved Payable Award, a testament to their groundbreaking approach to supplier engagement shown by the group and its partners. The company’s dual financing model, focused on approved payable as well as invoice financing, reflects their commitment to providing flexible and comprehensive options tailored to diverse supplier needs. As the jury remarked, “Two financing options are available, SCF and Invoice Financing. This offers more options to suppliers, which is truly excellent.” 

One of the key highlights of Mr Price Group’s programme is its rapid 24-hour supplier onboarding process, ensuring minimal downtime and quick access to financing options. With a supplier coverage rate of more than 75%, the programme not only supports financial stability across its supply chain but also fosters trust and long-term collaboration with suppliers. The jury noted, “They have an impressive coverage rate with fast onboarding in 24 hours. Impressive!” This high level of inclusivity demonstrates Mr Price Group’s dedication to creating accessible solutions that empower suppliers of all sizes. 

 Their approach is further strengthened by their innovative and adaptable programme structure, which addresses the unique challenges faced by suppliers, especially in an area of the world such as the African continent, where SCF is less consolidated and mature than Western Europe or North America. By offering embedded early payment options through SCF and invoice financing, Mr Price Group has solidified its position as an industry leader, fostering financial sustainability and supplier satisfaction.

In addition to the Innovation in Approved Payable Award, Mr Price Group has also earned the prestigious Gold Award. This accolade was given by the jury due to their ability to set new benchmarks in supplier engagement through their forward-thinking and flexible financial solutions. The jury also commented on the project’s size and reach, stating, “The size and scope of the project, as well as the value unlocked across various geographies in the African continent, shows outstanding impact and incredible adaptability.” 

Mr Price Group’s achievements go beyond financial innovation; they underscore a broader commitment to sustainable and inclusive business practices. As the first SCF programme in Africa to be fully compliant with Sharia law, their programme exemplifies how tailored financial solutions can cater to diverse supplier bases while respecting cultural and regulatory nuances. 

In the competitive arena of approved payable finance, Mr Price Group stands out for its dedication to empowering suppliers and fostering partnership and resilience across the supply chain. Their achievements set a high standard for companies seeking to balance innovation, inclusivity, and financial sustainability. The jury further praised the programme’s success, saying, “The percentage of suppliers joining the programme and geographies covered is truly impressive.” 

As businesses navigate the complexities of global supply chains, Mr Price Group’s programme serves as an inspiring blueprint for success. By aligning advanced financial solutions with supplier-centric strategies, they continue to redefine excellence in approved payable finance and lead the way toward a more collaborative and inclusive supply chain future. Mr Price Group’s ability to integrate innovation into approved payable finance demonstrates how organizations can create value for suppliers and strengthen partnerships across diverse markets.