Tata International Africa (TIA) has expanded its retail finance offering to South Africa, with the product already on offer in countries such as Tanzania, Kenya, Nigeria, Ghana and Zambia.

“The financing of heavy commercial vehicles, construction equipment and agricultural machinery presents its own unique set of challenges in Africa,” says TIA CEO and MD Len Brand.

“The introduction of a captive retail finance solution has afforded us some leeway in the way credit is provided.

“We have now applied our successes across the continent to offer a unique solution in the South African market.”

AFCL is the exclusive and preferred credit provider to TIA, offering a range of finance solutions, including leases, for the acquisition of various vehicle types.

The funding house’s focus is on financing Tata and Daewoo trucks and buses.

TIA established AFCL to provide short- to medium-term repayment terms for customers acquiring assets from Tata distributors and dealers.

TIA says AFCL “offers convenient and flexible solutions and finance products, specifically designed to address the challenges of securing finance, with the added benefit of a quick response time”.

“Our new finance offering is based on the fact that traditional lending models don’t always support good opportunities for growth in African markets,” notes Brand.

“We now have a solution that comprises products with the ability to finance them, making this a compelling proposition for businesses in Africa.”

AFCL aligns its financing solution with the customer’s needs by offering affordable repayment terms that fit the cash flow cycle of that customer, he adds.

“It is not a one-size-fits-all approach.

“We are obsessed with serving our customers and helping to solve problems,” says Brand.

“Our resourceful team is willing to go the extra mile to deliver proficient services. Because access to credit is restricted, we support customers in overcoming this obstacle by providing easy application and credit processes with novel, flexible repayment structures.”