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

  • Southern Ohio Veterans Memorial Highway ready for construction
    April 13, 2015
    Construction is about to start on the first public-private partnership highway project in the US state of Ohio. The Southern Ohio Veterans Memorial Highway, near the city of Portsmouth, will cost nearly US$228 million and is scheduled for completion in 2019, according to the Ohio Department of Transportation (ODOT). The Portsmouth Gateway Group will build the 25.8km, four-lane limited access highway from U.S. Route 23 north of Lucasville to U.S. Route 52 near Sciotoville. An ODOT statement said tha
    Read More
  • New developments for milling machine manufacturers
    February 20, 2014
    The market for milling machines is highly competitive and there is an array of firms offering equipment to the global market. German company Wirtgen is the worldwide market leader and has an enormous range of models available, but other companies too are keen to grow market share, with Caterpillar and Roadtec strong in North America and BOMAG, Dynapac and Caterpillar are also pushing hard to build share in Europe for instance. Other companies too are keen to grow their shares of global sales and several of
    Read More
  • Low income countries account for only 3% of global road networks: a constraint for economic growth
    January 15, 2019
    An analysis of road network data from IRF World Road Statistics (WRS) reveals the low percentage of road networks in low income countries and underdeveloped regions of the world. These results link poor quality roads and lack of road infrastructure to constrained economic development and growth The IRF World Road Statistics (WRS) includes up-to-date data on the road and transport sector for over 200 countries and covers nine important road topics, one of which is road networks. An analysis of the road
    Read More
  • Nairobi road to nowhere?
    January 3, 2013
    International environmental pressure groups claim a vital road in Kenya goes through parkland as Shem Oirere reports. Kenya’s Nairobi Southern Bypass, a 28.6km stretch has become the second road project in East Africa to run into problems. Designed to the Class A International Trunk Road Standard, the route has been targeted by international environmental pressure groups following Tanzania’s Serengeti Highway, which was derailed last year. The US$208 million bypass will link Mombasa Road, near Ole Sereni Ho
    Read More

Highlighted Content