Caterpillar establishes financing packages for African customers

New finance packages are now available for Caterpillar customers based in Africa, following an agreement between Cat Financial Services and Standard Bank. Standard Bank is Africa’s largest banking group and has set up a collaboration agreement with Dubai-based Caterpillar Financial Services (Dubai) Limited (Cat Financial). This new partnership will offer a range of financial services to Caterpillar customers in six African countries. The collaboration will be branded Cat Financial Services, Services Provide
October 17, 2012 Read time: 2 mins
New finance packages are now available for 178 Caterpillar customers based in Africa, following an agreement between Cat Financial Services and 6737 Standard Bank. Standard Bank is Africa’s largest banking group and has set up a collaboration agreement with Dubai-based 6736 Caterpillar Financial Services (Dubai) Limited (Cat Financial). This new partnership will offer a range of financial services to Caterpillar customers in six African countries. The collaboration will be branded Cat Financial Services, Services Provided by Standard Bank Group. The asset financing will be offered in Nigeria, Kenya, Uganda, Tanzania, Ghana, and Sierra Leone. These countries are covered by the 2411 Mantrac Unatrac Group. The venture is going live in Nigeria and Ghana first, with a range of financial products and services then being phased in to the other countries over a period of time. This arrangement supports Cat Financial’s goal to increase its brand presence in Africa and grow business in southern, central and western Africa. A range of asset related financial products and value add-ons will be made available to customers, subject to the regulations in country. The initial value add-on products will be comprehensive asset insurance and credit life.
Finance & Funding

For more information on companies in this article

Related Content

  • BOMAG is launching new road construction machines
    October 6, 2015
    German firm BOMAG continues to grow its presence in the road construction equipment sector. In the 10 years since BOMAG was purchased by the French Fayat Group, BOMAG has broadened its product range beyond being a leader in the compaction sector and invested heavily in its manufacturing facilities. It has also forged strong links with its Italian sister company Marini, the asphalt plant manufacturer, with the two jointly developing a wide array of asphalt road construction technologies. BOMAG recently he
    Read More
  • Washington DC’s historic bridge replacement project
    June 11, 2019
    The project to replace a historic bridge in US capital Washington DC is providing major challenges for its builders - Mike Woof writes
    Read More
  • Case demonstrates machines in Tunisia
    February 13, 2017
    CASE Construction Equipment recently carried out a major demonstration event for its construction machines in Tunisia. The event focused on the firm’s road building equipment, highlighting how the units perform, even in extreme conditions The planned large-scale projects for the development of Tunisia’s road infrastructure will require highly productive and reliable equipment to meet the country’s objectives. CASE is keen to develop a share of this market, running the event in a bid to grow its marke
    Read More
  • Kenya-Tanzania connection partial funding found
    October 13, 2017
    A large chunk of the funding required for the improved road connection between Kenya and Tanzania has now been sourced. The African Development Bank (AfDB) will provide US$300 million of the financing required for the project. However the remaining $485 million of funding necessary still remains to be secured.
    Read More

Highlighted Content