Through the ongoing support of Volkswagen’s Broad-based Black Economic Empowerment (BBBEE) Initiatives Trust, a former employee of Volkswagen Group South Africa (VWSA) has been able to realise his dream of becoming a business owner – and a supplier to his former employer.
MCR Plastics co-owner and MD Morgan Waterboer has received support from the BBBEE Initiatives Trust, as well as the Automotive Industry Transformation Fund (AITF) Equity Equivalent Programme, since he started his Kariega-based business in 2019.
“I worked for VWSA from 2002, in the Quality Assurance division, but almost 17 years later I saw a gap in the market,” says Waterboer.
His injection moulding company last year started supplying door covers and fuel filler modules for the Polo built at VWSA’s Kariega plant.
Waterboer runs MCR Plastics alongside his wife Edwina, who has been handling the finances and is currently running the human resources function.
“We are a small team, with four permanent employees and one consultant on board,” says Edwina.
MCR Plastics received bridging finance of R7.5-million from the BBBEE Initiatives Trust when the company started.
“Their support has been great and it has enabled us to grow.
“It’s not easy to start a business, but the support was very comprehensive. VWSA’s excellent team also supported us in getting the necessary processes in place.”
Through the AITF programme, the company also received funding, as well as assistance with the necessary certification. MCR Plastics was also invited to the 2022 South Africa Auto Week, where the management team could interact with stakeholders across the industry.
“Since 1996, I have dreamed of being a business owner,” says Morgan. “My proudest moment was when we loaded the truck with our very first delivery; that was a happy day for me.”
“We’ve always been Volkswagen fans,” adds Edwina. “We are grateful for them believing in us and helping us to grow our business, which they are still doing. It’s a blessing to see how the company is growing.”
The BBBEE Initiatives Trust was formed by VWSA in 2016 with the mandate of driving transformation in the South African automotive industry by investing in black-owned suppliers and also offering them post-investment support.
VWSA has also been involved in the AITF – an organisation working with South Africa’s owards transformation in the supply chain and dealer network – since 2020.