On 3 January 2014, RentWorks Africa, South Africa’s largest independent asset rental company, will launch in Namibia. RentWorks, owned by FirstRand Group, was established in 1998 and was the first company to offer genuine residual-based rental solutions. The opening of the new Namibian business sees the company extending its reach beyond the borders of South Africa to tap into new growth markets.
Having acquired a successful rental financing business, Corporate Equipment Rentals (CER), developed over the last eight years by Albert Pretorius and Andre de Jager, the new trading entity RentWorks Namibia will be able to offer customers a complete range of asset rental financing solutions, including (for the first time) residual value financing options, as well as value-added services not featured previously in the Namibian financing space.
The RentWorks Namibia office will be based in Windhoek and will service all major areas within the country. The company will continue to service existing CER clients, as well as targeting new customers, by leveraging the credibility of the RentWorks brand and value proposition, as well as its alliances.
“Namibia is a natural expansion location for us in terms of our supplier alliances and the market dynamics, especially in mining, construction and ICT,” explains RentWorks Director, Jacques de Klerk. “It presents an exciting growth opportunity, and we are thrilled to be taking the RentWorks brand into new territories. Albert and Andre have an excellent understanding of the Namibian market and have developed strong relationships across the value chain. There is a good fit strategically and culturally between CER and RentWorks Africa and this decision makes sense to us on all levels.”
Albert Pretorius, Director at RentWorks Namibia says, “The launch of RentWorks Namibia means that we will be able to offer clients access to enhanced funder relationships and synergies, as well as residual value financing solutions across all asset classes, from IT equipment to yellow equipment, and we are now able to add more value to our supplier partners. We believe that there is definite growth potential for us in the ICT space, building on RentWorks’ expertise in IT financing whilst we continue to service our traditional office automation channels. The launch of RentWorks Namibia will assist us to continue to meet shifting market demands, and to extend our superior personal service offering to our clients to offer them advanced financing solutions that will improve their businesses.”
About RentWorks Africa:
Currently financing over R3 billion worth of assets for more than 400 organisations across most industries and asset types, we are South Africa’s leading asset rental company.
We are product and brand independent and focus on offering our clients intelligent, cost-effective asset rental solutions covering the entire asset life cycle (acquire, manage and return).
We call this approach ‘asset intelligence’ – a combination of flexible, scalable rental financing, including active asset lifecycle management that turns your procurement strategy into a competitive advantage.
Amoria van Niekerk: 011 549 9000; email@example.com