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Nika Koyava

Through&nbsp;the&nbsp;active engagement&nbsp;of SavvY's team, Gazelle Finance Georgia LLC, an investment fund, has committed to invest a substantial investment of $2,500,000 in Camex Airlines LTD.&nbsp;Gazelle Finance operates as a financing company serving small and medium enterprises (SMEs) in the Eurasia Region, with a particular focus on entities showcasing&nbsp;the&nbsp;remarkable potential for high-growth. Camex Airlines, a cargo airline with nearly two decades of experience in the transportation industry, offers ACMI leasing services and charter/ad-hoc solutions.This is Gazelle Finance's first investment in the transportation sector in Georgia, which marks a significant milestone for the company.&nbsp;Camex Airlines can now enter into lease agreements with multiple lessors, allowing them to acquire and operate four aircraft, including both narrow and wide-body freighters like the Boeing 737-800 BCF. This financial support also ensures the availability of the necessary working capital for the ongoing operations and maintenance of these aircraft. The company received its first aircraft, a Boeing 737-800 BCF, in July 2022 and began commercial flights in August after successfully passing all the necessary procedures. Furthermore, in 2023, two more aircraft were successfully integrated into the existing fleet.<figure class="table" style="width:100%;"><table class="ck-table-resized"><colgroup><col style="width:35.38%;"><col style="width:64.62%;"></colgroup><tbody><tr><td><h1>How we helped</h1></td><td>The project&nbsp;aimed to use Georgia's strategic location for initiating air transportation.&nbsp;To achieve this, SavvY's team prepared an investment package encompassing key tasks such as developing an optimal financing structure, conducting extensive research on potential investors, evaluating investments of potential routes, and performing thorough financial analyses of leasing companies of cargo suppliers (providers).</td></tr></tbody></table></figure>&nbsp;Additionally, our team actively participated in the air cargo value chain process, meticulously assessing the financial viability of partnership terms and requirements. Following&nbsp;careful evaluation of&nbsp;numerous international and local financial institutions and investors, Gazelle Finance, a local private investor, and a bank were ultimately chosen as the preferred sources of financing, each with distinct proportions and conditions.<figure class="table" style="width:100%;"><table class="ck-table-resized"><colgroup><col style="width:27.34%;"><col style="width:72.66%;"></colgroup><tbody><tr><td><h1>Impact and potential</h1></td><td>This investment presents an opportunity for Georgia to amplify its multimodal freight and cargo transit capabilities by establishing new air transportation corridors and trade routes.</td></tr></tbody></table></figure>It enables Camex Airlines to significantly increase the number of orders for additional destinations and become the first air freight company in the country to operate on a transcontinental route.&nbsp;<a href="https://www.interpressnews.ge/en/article/118264-gazelle-fund-lp-invests-in-camex-airlines-an-air-cargo-carrier-in-georgia">See article about our project</a>&nbsp;

Camex

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Fundraising

SavvY supports CAMEX in access to finance

We had been working on a programme initiated by the Swisscontact Georgia which works with the rural small and medium enterprises and entrepreneurs in Georgia. They currently implement activities to build a more effective and resilient system of SME access to finance and business support services to increase rural income and employment. Swisscontact’s activities in Georgia are aligned with the Swiss Cooperation Office’s strategy in the South Caucasus which is oriented towards rural business diversification, resilience, income, and job creation.The Dairy Supplier Investment Support Program aimed to facilitate rural market access opportunities of rural farmers from various regions of Georgia through provision of business advisory and technical services and access to finance. The goals of the project, which our team was responsible for, were facilitation of dairy buyers, e.g. large dairy product manufacturers such as brand Sante, Sophlis Nobati and Agrohub, in establishing a segmentation methodology and provide technical assistance to their suppliers. Specifically, assessment of potential production and provision of memoranda to support long-term partnership with selected rural farmers. In addition, our team supported farmers in improving and formulating loan/grant applications for accessing additional financing to increase production capacity.&nbsp;<figure class="table" style="width:100%;"><table class="ck-table-resized"><colgroup><col style="width:26.61%;"><col style="width:73.39%;"></colgroup><tbody><tr><td><h2>How we helped</h2></td><td style="text-align:justify;">The project had gone through different stages to achieve the initial goals. At first, our team provided technical assistance to buyers on segmentation methodology and production projections, which included elaboration of a guideline to segment appropriate, high potential and motivated suppliers. On the second stage our team supported buyers to conduct rapid assessment of suppliers’ financial and business capabilities. This also covered evaluation of key financial and business opportunities and barriers.</td></tr></tbody></table></figure>Furthermore, our team facilitated long-term partnership with rural farmers and major buyers by signing the memoranda about predetermined order terms between specific buyer and supplier. For the next stage, SavvY developed supplier investment plans for each farmer, which included forecasting for 5 years. Finally, SavvY Team supported suppliers to prepare finance applications relevant to the source of the funding.<figure class="table" style="width:100%;"><table class="ck-table-resized"><colgroup><col style="width:27.77%;"><col style="width:72.23%;"></colgroup><tbody><tr><td><h2>Impact and potential</h2></td><td style="vertical-align:bottom;">During the project, 43 farmers were identified and analyzed, 19 investment plans were prepared, from which 17 loan applications were made.As a result, the project outcomes enabled the diary industry to test long-term partnership with key major players and small and micro rural farmers. Also, project facilitated the linkage with central and rural economy and assessed farmers’ access to finance capabilities for further development of the dairy industry. &nbsp;</td></tr></tbody></table></figure>&nbsp;

Swisscontact Georgia

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Ecosystem Development

Dairy Supplier Investment Support Programme

SavvY prepared a business plan for a private client. The main purpose of the plan was to determine the demand for the Aberdeen-Angus cattle breed steak on the Georgian market, to provide their transportation from abroad, and to arrange a recipient farm. Additionally, communication with private and public institutions to attract resources was provided. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;During SavvY’s consultation services, favourable and unfavourable conditions for business development in Georgia were assessed based on a PESTEL analysis. After that, the product was studied in detail and its supply and demand were determined according to the Georgian market. Then we defined the target market, where steak should be positioned and who were the main market competitors. Finally, a detailed financial model was prepared where various scenarios were discussed, after which the project was evaluated positively and implementation began. Using the business plan, it was possible to receive a bank loan, with the interest financed by the Enterprise Georgia project. Also, within the project, the government handed over the land on which the farm was built to the client.<h2 style="margin-left:0px;text-align:justify;">Business Plan for Meat Processing Factory</h2>During June 2019, SavvY developed a business plan for meat processing factory. In addition, our team made meat market research in Georgia and depending on market trends, created particular concept for a factory. Also SavvY developed financial model, which provides information about raw materials purchases and includes potential sales assumptions. As a result, client was provided by a detailed business plan document.

Naturveli

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Business Plan

Financial Modeling

Business Planning & Financial Modeling for Black Angus Farm

The main operating activity of “Meghvineoba Mukuzani LTD” is winemaking and viticulture. The vineyards are located in the village of Mukuzani. The village of Mukuzani is recognized as a micro-zone of “Mukuzani” and has a unique grape harvest, which gives the wine a special aroma.In 2020, under the project, SavvY provided business valuation consulting service to the company based on international valuation standards.

Meghvineoba Mukuzani 

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Asset Valuation

Business Valuation of Mukuzani

In 2020, SavvY prepared a business plan for the production of audio-video equipment, lithium-ion batteries. In the process of working on the business plan, the SavvY team studied key industry characteristics, local market consumption, key players in the world market, as well as import-export statistics. Within the framework of the project, a business concept was developed and financial calculations for 7 years were prepared.

Inovator 

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Business Plan For The Production of Audio-video Equipment

Insights

<img src="/uploads/what_is_working_capital_1f73283076.webp" alt="what is working capital">If you’ve ever wondered how some businesses always seem to stay strong, no matter what, the secret is simpler than you think: working capital, which isn’t just about making sales or reducing costs, but about having enough financial resources to make sure that the business keeps moving forward.A company with sufficient working capital can pay its bills on time, invest in growth, and handle unexpected expenses without stress. On the other hand, poor working capital management can lead to cash flow problems, delayed payment,s and even more serious financial trouble.In this blog, we’ll explain&nbsp;<a href="https://wesavvy.co.uk/services/financial-management">working capital&nbsp;</a>meaning, how to calculate it and why managing it well is key to a company’s financial growth. But before we go further into why it is essential for success, let’s first understand what is working capital and why it’s so important for business leaders.<h2 style="text-align:justify;">Clarifying the working capital definition</h2>Understanding working capital meaning is essential for any executive who is focused on financial stability. While sales and profit are important, without enough working capital, a company may have trouble covering everyday costs, which can cause more and more problems.&nbsp;In the business world, working capital is a key number that shows how strong a business’s finances are. It’s the difference between what a company owns (like cash, money from customers and products) and what it owes (like bills and short-term loans). It also tells you, if a company can pay its bills and keep everything running without problems, at the same time.&nbsp;This is why business leaders pay close attention to working capital. They understand that managing it well opens the door to new opportunities. With effective management, companies can grow and reduce financial risks.However, while working capital is essential for daily operations, there are other financial tools that are also important for bigger projects and long-term growth.<h2 style="text-align:justify;">Working capital vs. other financial tools</h2>Besides working capital, which focuses on a company's daily operations and shows how well a business can cover its short-term expenses, there are other financial tools. With them, loans, debt and equity are typically used to fund larger projects. To put it simply, while working capital helps cover everyday costs, loans and debt provide the money that is needed for improvements. However, equity allows a business to raise funds without borrowing.For businesses, especially those that are in development phases, understanding the balance between working capital and these long-term financial instruments is even more important. For this reason, sometimes businesses invest in consulting firms to ensure they manage financial tools effectively. These firms help companies make the right decisions regarding their working capital, loans, debt and equity.&nbsp;<h2 style="text-align:justify;">How to calculate working capital: what you need to know</h2><h3 style="text-align:center;">Working Capital = Current Assets – Current Liabilities</h3>It’s rare to find a business owner or company that doesn’t know the meaning of this formula, which provides a clear picture of a company’s financial status. Understanding how to calculate working capital is essential, but what really matters is knowing the quality of your assets and liabilities. Some assets are not easy to sell quickly for cash, and some bills may need to be paid sooner than you thought. It’s important to know how fast you can get your money, when you need to pay your bills, and how different seasons can affect your cash flow.It is also worth mentioning that working capital management is not just about calculations; it's about making smart choices to keep a business stable and running well for a long time. For top management, having enough working capital is key to staying financially flexible.&nbsp;For this reason, consulting firms like&nbsp;‘’<a href="https://wesavvy.co.uk/">SavvY</a>” can help review and improve strategies to make sure they match your business goals.<h2 style="text-align:justify;">From numbers to strategy, managing working capital effectively</h2>The formula we mentioned earlier is just the beginning. After calculating working capital, the next step is to use that information practically, which is key to running your business effectively. You need to apply this data to make strategic decisions. It’s often said that effective working capital management is about balancing short-term needs with long-term goals to ensure that resources are used correctly.Once you understand your working capital, it can help you make better decisions. By checking it regularly, you can keep your business balanced between having enough cash and growing. For example, if your working capital is high, you might want to invest in new opportunities or grow your business. If it’s low, you may need to reduce unnecessary costs. The key is to stay flexible and be ready for changes in the market.<h2 style="text-align:justify;">Why positive and negative working capital matter</h2>After calculating and using your working capital effectively, the next important factor is understanding whether it’s positive or negative, because it significantly affects how your business works.Positive working capital means you have enough assets to pay your short-term debts and it shows that your business is financially stable. This helps you pay bills on time and take advantage of new opportunities. On the other hand, negative working capital means your debts are higher than your assets, which can make it hard to pay bills and run your business without problems. This situation needs careful attention to avoid cash flow problems. When you know if your working capital is positive or negative, you can make smarter decisions.<h2 style="text-align:justify;">“SavvY” -&nbsp;Your partner in improving working capital management</h2>In conclusion, managing working capital well is important for businesses to run effectively, but as we've seen, it’s not just about understanding the numbers; it’s about making good decisions based on that information. Since working capital and other financial tools are so important, many companies choose to get help from experts.Here’s where&nbsp;“SavvY” can make a difference for your company. This business consulting firm, based in Tbilisi, Georgia, uses a simple and effective approach to help businesses manage their working capital and improve their financial strategies. With good knowledge of the local market and global best practices,&nbsp;“SavvY” helps businesses turn challenges into opportunities.&nbsp;

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What is Working Capital? Understanding Its Importance and Role in Business Success

News

<figure class="image"><img src="/uploads/Screenshot_2025_04_01_164544_d3b33a61ac.png" alt="Free Industrial Zones – Time to Invest with Mariam Koyava"></figure>There is a belief that, amid high uncertainty and increasing unpredictability in the global economy, special economic zones provide a relatively predictable stable business environment.The World Free Zones Organization (WFZO) estimates that there are 7,000 special economic zones worldwide. However, tracking and identifying which zones are truly active and successful remains a challenge.&nbsp;According to Adrianople Group, there are 4,921 active zones in more than 90 countries.As for Georgia, the country currently has four operational free industrial zones: Poti Free Industrial Zone, Kutaisi Free Industrial Zone, Hualing Kutaisi Free Industrial Zone, and Tbilisi Free Zone.Additionally, two new zones are in development. The Sagarejo Free Industrial Zone is scheduled to begin operations no later than March 1, 2026, while the GIG Free Industrial Zone in Kutaisi is set to open by December 1, 2026.<a href="https://bm.ge/news/tavisufali-industriuli-zonebi-investitsiis-droa-mariam-qoiavastan-ertad">To watch the full interview, follow the link</a>

Free Industrial Zones – Time to Invest with Mariam Koyava

<figure class="image"><img src="/uploads/giorgi_gudabandze_w_h_598e10ae06.jpeg" alt="giorgi-gudabandze_w_h.jpeg"></figure>"The low share of the EU in exports is alarming," said Giorgi Gudabandze, Associate Partner at SavvY, in an interview with BMG.Exports from Georgia to the European Union have dropped to record lows. In the first ten months of 2014, Georgian businesses exported only $456 million worth of goods to EU countries. The EU’s share in Georgia’s total exports fell below 10%, reaching just 8.4%."The country and the private sector are not prepared for a market with high-level requirements. Moreover, Georgia’s recognition as a supplier of specific products in the EU market is quite low, which results in a lack of trust from European buyers in long-term business relationships. Logistics also remains a major issue, limiting Georgia’s competitiveness. We are not fully utilizing our geographical advantages, and as an overall result, our export share remains low," said Giorgi Gudabandze.&nbsp;<a href="https://bm.ge/news/eqsportshi-evrokavshiris-dabali-tsili-sagangashoa-giorgi-gudabandze">To read the full interview, follow the link</a>

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Low Share of EU in Exports is Alarming – Giorgi Gudabandze

<figure class="image"><img src="/uploads/Screenshot_2025_04_01_162636_2de06da5a4.png" alt="fmcg market overview"></figure>In Georgia, consumers spend approximately one-third of their disposable income on food and non-alcoholic beverages. This figure has been steadily increasing over the past five years, rising from 30.09% in 2017 to 33.39% in 2023.According to statistics, the sector's turnover in 2023 reached 20.4 billion GEL, with a CAGR of 17.8% between 2019 and 2023. Additionally, TBC Capital's calculations indicate that the share of the organized market is growing in Georgia as well, increasing from 17% in 2016 to 36% in 2023. Their forecast suggests that by 2025, the organized market share will reach 45%.According to TBC Capital's FMCG sector overview, Nikora is the market leader in sales volume, followed by Ori Nabiji, Carrefour, and Spar.The FMCG market is represented by several large players and is characterized by intense competition. However, in recent years, no significant shifts have occurred in market distribution. In 2024, however, several major market players merged, including Daily, Magniti, Spar, Gvirila, and Ioli, forming a single group. There are expectations—and BMG has insights—that market consolidation will continue.According to the Georgian Competition and Consumer Agency (GCCA), in 2023, nearly 12,000 companies operated in the FMCG retail sector nationwide. One-third of the market is concentrated in Tbilisi, where competition is particularly fierce. However, the share of the organized market remains relatively low in other regions of the country, indicating significant growth potential.&nbsp;<a href="https://bm.ge/news/fmcg-bazris-mimokhilva-saqartvelo-investitsiis-droa-mariam-qoiavastan-ertad">To watch the full interview, follow the link</a>

fmcg market overview

FMCG Market Overview (Georgia) / " Time to Invest" with Mariam Koyava!

Press Releases

<figure class="image"><img src="/uploads/savvy_w_h_3f6be5290a.jpeg" alt="savvy_w_h.jpeg"></figure>A $35 million investment portfolio, three large-scale development projects in Georgia, and over 30 evaluated investment proposals—all of this is the result of a three-year partnership between the business consulting company SavvY and Sodi Investment.&nbsp;The strategic collaboration between SavvY and Sodi began in 2021, supporting the development of Georgia’s real estate market and other key sectors through foreign direct investment.&nbsp;As a consulting firm, SavvY's role is to assess potential investment proposals and monitor the efficiency of the existing investment portfolio. According to the company's managing partner, Mariam Koyava, SavvY evaluates whether an investment business idea aligns with Sodi Investment’s investment mandate and the vision of its founder, Dominique Romano.&nbsp;"We started our strategic collaboration with Sodi in 2021, which involves financial management and investment advisory services. Given the large scale and complexity of the company's projects, we work closely with the management team to assess the financial viability of each project and ensure effective financial management and monitoring of executed investments.&nbsp;Over the past 3.5 years, we have evaluated over 30 investment projects, the majority of which were in the real estate sector, including residential and hotel-type accomodations. While Sodi Investment actively seeks interesting projects and niche investment opportunities, it is also open to potential partnership deals. We assess how attractive, profitable, and strategically aligned each project is with Sodi’s founder’s&nbsp;investment strategy,” says Mariam Koyava.&nbsp;Sodi Investment's portfolio includes large-scale projects, such as a high-end international brand hotel in Batumi. This will be an Accor-branded hotel located in the city's historic district, set to open in a test phase by the end of next year. Another key project is a mixed-use development on the former film studio site in Tbilisi, which will feature residential, hotel, and commercial spaces. The former film studio project is expected to be completed within three to four years.&nbsp;"Based on Sodi’s founder’s vision, restoring, preserving, and revitalizing historic projects is a priority. That is why our Batumi hotel project is centered around reconstructing a historic bank building while preserving its original facade. In addition to financial benefits, every Sodi project must offer advantages not only to investors but also to the local community and the country as a whole,” says Sodi Investment's director, Irakli Alasania.&nbsp;According to Sodi Investment, their partnership with SavvY provides deep sectoral expertise, which translates into tangible results. When asked whether outsourcing financial services is a viable approach, Irakli Alasania explains that working with a consulting firm has fully met their expectations.&nbsp;“For Sodi Investment, existance of companies like SavvY is crucial. SavvY possesses deep sectoral knowledge and experience that is constantly being updated. Flexibility and independence are also key factors, as an external advisor, SavvY is always motivated to remain as unbiased and objective as possible in evaluating investment opportunities.&nbsp;At Sodi Investment, we strive to keep up with market trends in developed countries and introduce innovations. When we considered partnering with SavvY, we made a positive decision, and we can say that the collaboration has been a success. Our expectations were met, and the results speak for themselves,” says Irakli Alasania.&nbsp;Sodi Investment emphasizes that working with a consulting firm ensures continuous service quality.&nbsp;At SavvY, they hope that their collaboration with the investment company will continue even after the completion of the current projects and looking ahead, both sides will work together to expand the investment portfolio. Discussing future cooperation, Sodi’s director highlights that a stable partnership is essential for rapid growth.&nbsp;"A stable partnership is crucial not only for risk management but also for fast growth. We expect that the collaboration and partnership we established with SavvY three years ago will continue into the future,” says Irakli Alasania.&nbsp;<a href="https://bm.ge/news/35-milioniani-sainvestitsio-portfeli-da-sami-masshtaburi-proeqti-savvy-da-sodi-investment-is-3-tsliani-partnioroba">To read the full interview, follow the link</a>

Hey, I'm Nika Koyava and I'm gonna help you

Projects I've worked on

SavvY supports CAMEX in access to finance

Dairy Supplier Investment Support Programme

Business Planning & Financial Modeling for Black Angus Farm

Business Valuation of Mukuzani

Business Plan For The Production of Audio-video Equipment

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Publications

What is Working Capital? Understanding Its Importance and Role in Business Success

Free Industrial Zones – Time to Invest with Mariam Koyava

Low Share of EU in Exports is Alarming – Giorgi Gudabandze

FMCG Market Overview (Georgia) / " Time to Invest" with Mariam Koyava!

A $35 million investment portfolio and three large-scale projects – a 3-year partnership between SavvY and Sodi Investment

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