As businesses face tough economic decisions and survival strategies, they need to have the right resources, the right team, and the right systems in place to create the leverage needed to scale to the next level. Absa CIB’s transaction team has once again demonstrated its capabilities and expertise in delivering innovative solutions to meet our clients’ strategic objectives.
Absa CIB, through its Trade & International Banking division, has successfully signed Cape Gate as a new banking client following a full takeover of the long-standing “in-house” bank. Cape Gate is the largest vertically integrated manufacturer of steel, wire and cable products in South Africa. Cape Gate supplies steel, wire and cable products primarily to the South African and Sub-Saharan market, with limited exports to Central Africa, America and Europe.
At Absa CIB, we understand that the cornerstone of the success of any business is working capital. We have been able to provide working capital in a transparent and cost-effective manner through an expert understanding of their business activities, including operating, investing and financing needs.
Today’s ever-changing business landscape requires an innovative partner who can provide end-to-end digital financing solutions to fund your business and working capital needs. The financing solution was designed and priced to meet the needs of the client and included an Accounts Receivable and Inventory Financing (ARIF) solution, Foreign Exchange (FX) Hedging, Asset Financing, Cards and Operations national and international transaction banking. This victory also strengthens our ability to build relationships that bring Africa’s mineral wealth to the rest of the world, while executing our refined business strategy to achieve our goal of being a leading pan-African corporate and investment bank. .
The deal team was instrumental in delivering an innovative digitally-enabled structure under the funding program which specifically addressed Cape Gate’s business operating model in a timely manner; and the financing solution was structured and competitively priced to suit their needs, allowing them to easily switch to Absa Bank. Customer can now easily transact with Absa in a convenient and paperless manner, demonstrating our commitment to service excellence and customer focus. Due to the deal team’s ability to think outside the box and adapt quickly, the Cape Gate deal was expertly initiated and closed.
You need a partner who will go above and beyond to provide financing solutions in these difficult times. Absa Corporate Investment Bank has a proven track record of delivering innovative banking solutions that help our clients achieve their strategic goals. Our 150 years of African heritage, combined with a footprint that spans 14 countries on the continent, positions Absa Corporate and Investment Banking as a bank that understands that working capital is critical to the success of any business.
Choose an innovative partner to help fuel the growth you seek.
The courage to imagine. It’s Africanness