RentWorks, the largest independent asset rental company in South Africa, is relaunching its Namibian office. RentWorks has been providing companies with asset rental solutions for more than 20 years, acquiring numerous satisfied customers locally. The Namibian branch sees the company extending its reach beyond the borders of South Africa to tap into new growth markets.
Given the current economic climate in Namibia, capital expenditure (capex) preservation is key. This is why the Rentworks rental solution is becoming an increasingly popular financing alternative. As an extension of its South African success story, RentWorks Namibia will offer customers a complete range of rental finance solutions, including (for the first time) residual value finance options as well as value-added services.
A rental solution from RentWorks Namibia allows clients to procure a multitude of equipment types they need today by spreading the payment across its useful life, allowing them to maintain cash reserves on higher yielding projects. Due to the fact that the solution is affordable, flexible, and scalable, it provides clients with the agility they need to stay ahead of competitors and the rapid change in technology.
Benefitting Namibian businesses
Rentworks is making huge strides in the asset-based finance market in Namibia. The Namibian office, which is based in the capital city of Windhoek and will service all major areas within the country, is spearheaded by local MD, Albert Pretorius, who has over 25 years’ experience in the industry.
Mr Pretorius says, “The relaunch of RentWorks Namibia means that clients will have access to enhanced funder relationships and synergies, as well as residual value financing solutions across all equipment and asset types. The presence in Namibia will enable us to meet shifting market demands and extend our superior personal service offering to our clients by offering advanced financing solutions, which will benefit their businesses.”
No deposit, no risk
In a market limited to traditional funding mechanisms, RentWorks Namibia’s residual value-based methodology is proving to be the preferred funding solution. The core differential is the residual risk investment, which offers a true rental as opposed to the traditional finance options, thus reducing the cash flow requirement and affording the financial flexibility required in any business.
The residual value model also negates the traditional up-front deposit that is required, and clients are actively taking advantage of the deposit replacer, one of the financial solutions in the Rentworks Namibia suite. Since there is no large lump-sum required up-front, entering into a rental agreement for depreciating assets frees up capital, which can be used for profit-generating initiatives and investments.
RentWorks also offers a range of financial solutions on various asset classes to both the private and public sectors, which includes everything from IT to PABX systems, plant and machinery, vehicles and fleet, as well as medical equipment. The targeted approach and strategic alliances with several Original Equipment Manufacturers (OEMs) within the mining, construction, corporate, medical, transportation, and tourism industries are proving to be beneficial to all clients.
Renting enables customers to enjoy full, uninterrupted use of the equipment, after which it is simply replaced or upgraded when the agreement comes to an end. Not only will RentWorks aid organisations in easing the economic burden of purchasing assets with rental options, but will also tailor a specific solution for each individual case, enabling companies to utilise all the benefits of a true operating lease.
For more information about RentWorks Namibia and its offerings, please contact Albert Pretorius on:
Tel: +264 61 229 226
Cell: +264 81 122 6013