FirstRand Group-owned independent asset rental company RentWorks Africa launched a new office in Windhoek, Namibia, last month, which will enable RentWorks Africa to reach beyond the borders of South Africa to tap into new growth markets.
The new office will service Walvis Bay and Swakopmund.
Having acquired a successful rental financing business, Corporate Equipment Rentals (CER), the new trading entity, RentWorks Namibia, will offer customers a complete range of asset rental financing solutions, including residual-value financing options for the first time, and value-added services not featured previously in the Namibian financing space.
“The company will continue to service exist- ing CER clients and target new customers by leveraging the credibility of the RentWorks brand and value proposition, as well as its alliances,” says RentWorks director Jacques de Klerk.
He adds that the Namibian office was opened to expand the company’s residual rental model into the Southern African Development Community region, which has good growth potential, and to expand its footprint, especially in the mining and construction industries.
“The Namibian office presents an exciting growth opportunity and we are thrilled to be taking the RentWorks brand into new territories. The Namibian team has an excellent understanding of the Namibian market and has developed strong business relationships across the value chain,” he says, adding that the new development is a good fit strategically and culturally between CER and RentWorks Africa.
RentWorks Namibia director Albert Pretorius notes that the launch signifies the company’s capability to offer its clients access to enhanced funder relationships and synergies, as well as residual-value financing solutions across all asset classes, from information technology (IT) equipment to material for construction and earthmoving equipment, quarrying equipment and forklift trucks.
He notes that the company can now add more value to its supplier partners.
“We believe that there is definite growth potential for us in the information and communication technology space, building on RentWorks’ expertise in IT financing, while we continue to service our traditional office automation channels,” Pretorius says.
He points out that the launch of RentWorks Namibia will assist the company in continuing to meet shifting market demands, extend its personal service offering to clients and offer them advanced financing solutions that will improve their businesses.