Purchase of Controlling Interest Cedrent Vehicle Hire Leads To 51% Indigenous Ownership
South Australian company, Cedrent Vehicle Hire (Cedrent), has announced that Munda Wana Wilurarra Pty Ltd (MWW) has purchased a controlling interest in the company, providing an injection of funds that will help to grow the business into the future. MWW is an Aboriginal owned company that exists to fund the Far West Coast Aboriginal Community Trust. The aim of the Trust is to assist the Indigenous members of the Far West Coast Aboriginal Corporation (FWCAC) with the resources needed to provide them and their families with a standard of living equal to that of the broader Australian community.
A new South Australian Industry Participation framework came into effect on 1 August 2017 with objectives to generate jobs and investment to regional South Australia through procurement and infrastructure spending.
Under the framework, engaging with an Aboriginal business like Cedrent is essential for government agencies to meet their social procurement targets and provide economic benefit to the Aboriginal community. As Cedrent grows, so too does its capacity to employ Aboriginal people, bringing down the line benefits to the local community.
Supply Nation Certification
Dan Walmsley, Cedrent’s Marketing Manager, revealed that the added benefit of FWCACCT having 51% interest in the company was that Cedrent has the potential to become a certified provider with Supply Nation, and this certification is now in its final stages.
A not-for-profit organisation, Supply Nation connects majority Indigenous-owed businesses with opportunities in government and corporate supply chains.
“Supply Nation supports Aboriginal Business Direct which provides a directory of Indigenous businesses that are more than 50% Indigenous owned” explained Mr. Walmsley.
“Under its Indigenous Procurement Policy, the Australian government’s procurement teams use the directory to source those providers who will meet their needs, while at the same time fulfilling the government’s targets under the Policy.”
The purpose of the government’s Indigenous Procurement Policy (IPP) is to leverage the government’s multi-billion procurement spend towards Indigenous products and services, thereby stimulating Indigenous economic development.
“Becoming a Supply Nation Certified Supplier, and listed in the Aboriginal Business Direct directory, will open up new government supply opportunities for us, and reinforce existing ones,” said Mr. Walmsley.
“As well, corporate procurement teams are incorporating supplier diversity into their purchasing policies, with an emphasis on Indigenous businesses and, as a result, through our Certified Supplier status with Supply Nation, we will be well positioned to secure new contracts in the corporate sector.”
About Cedrent Vehicle Hire
Cedrent is an South Australian based vehicle hire company providing a range of vehicles and fully equipped camp setup facilities for projects that include mining, telecommunications, government, and exploration. It also hires vehicles to individuals wishing to explore some of the more remote areas of Australia.
Its vehicles are mine site compliant if required.
As a 51% Indigenous-owned, Cedrent is an ideal choice for those companies required to meet Indigenous procurement targets.
Mr Walmsley says “we continue to work with Supply Nation to develop our shared compelling vision to build a prosperous Indigenous business sector”.
http://www.supplynation.org.au/media/1195/the_sleeping_giant_web.pdf http://www.supplynation.org.au/media/1195/the_sleeping_giant_web.pdf http://www.fwcac.org.au/land/ https://www.pmc.gov.au/indigenous-affairs/economic-development/indigenous-procurement-policy-ipp