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

  • Kenya-Tanzania link road designed
    May 19, 2017
    Design work has been completed for a key stretch of the highway that will provide a new link between Kenya and Tanzania. The plans for the 210km section in Kenya between Malindi in Kilifi County and Lunga Lunga in Kwale County have been completed. This stretch will form part of the Lamu-Dar es Salaam highway from Kenya to Tanzania. The Kenyan Government is now sourcing funding for the project and hopes to obtain the necessary financing packages from the World Bank and the African Development Bank. The proj
    Read More
  • Major success for bC India despite challenging economic conditions
    April 4, 2013
    Despite challenging times, the second bC India construction equipment show proved a success Mumbai, India’s most populous city and the fourth most populous in the world, has again delivered a successful bC India. The bauma/ConExpo international trade fair for construction machinery, building material machines, mining machines and construction vehicles, was held at the Bandra Kurla Complex, and impressively strengthened its position in the Indian market despite the challenging situation in the industry. Duri
    Read More
  • More satellites, more signals
    July 20, 2012
    Greater GPS accuracy suggests closer tolerances for surveying and machine control functions What happens in the future for GPS surveying and machine control could depend on satellite choice and signals. Right now there are around 30 satellites in orbit, largely built by the US, but by 2012 that could rise to 120 as Europe, China, India and Russia fully enter the market. A chequered history has faced the European's Galileo system. At long last, the finance appears to be in place and the European Commission a
    Read More
  • India plans major infrastucture investment
    April 5, 2012
    India says it turned its Commonwealth Games into a world-class success, and now it aims to do the same with its infrastructure. Patrick Smith reports On October, 2010 India put itself on the world stage, and disaster appeared to loom as a catalogue of problems dogged its biggest ever sporting event. Costing nearly US$2 billion to stage, the most expensive Commonwealth Games ever were, according to some, in doubt. After years of planning some projects were incomplete, there were health scares and a br
    Read More

Highlighted Content