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Empowering South African entrepreneurs at Machine Tools Africa

At Sasfin, we pride ourselves on being more than just a financial institution; we are a strategic partner dedicated to fostering growth and innovation within South Africa’s vibrant business landscape. Our recent participation at Machine Tools Africa underscores this commitment, as we were the only financier present, actively supporting the sector.

Why We Attended Machine Tools Africa

Machine Tools Africa is the premier event for the machine tools and metalworking industry in South Africa. It brings together leading manufacturers, suppliers, and service providers, showcasing the latest technologies, products, and solutions that drive industry advancements. Our presence at this event was driven by a clear objective: to connect with entrepreneurs in the sector, understand their unique challenges, and demonstrate our unwavering support through tailored financial solutions.

In today’s economic climate, business owners face numerous hurdles, from accessing capital to managing cash flow and investing in new technologies. By participating in Machine Tools Africa, we aimed to bridge the gap between these businesses and the financial resources they need to thrive. Our goal was to highlight how strategic financing can be a catalyst for growth, innovation, and sustainability in the machine tools and metalworking sector.

Standing out

Machine Tools Africa is the largest exhibition of its kind on the continent, showcasing state-of-the-art CNC machines, robotics, laser cutting equipment, and various other tooling systems.

At Sasfin, our presence signifies our optimism and belief in the opportunities within the South African economy, despite current headwinds. We recognise the resilience and potential of the machine tools industry, which is essential for industrial growth and technological advancement. By supporting the sector, we aim to signal to the market that we are committed to backing businesses that drive innovation and economic development.

Tailored Financing Solutions

Here’s how we deliver value to businesses in the sector:

  1. Trade Finance: We have the infrastructure, products and services to cater for all of the financial and service needs of an importer, allowing you to optimally finance and manage every aspect of your foreign trade, while leveraging our backing and expertise. Our Start-to-Finish Import Solutions span the arrangement and handling of finance to pay your suppliers, foreign exchange facilities, forwarding or shipping, customs clearing, warehousing and distribution, and collecting payment from your clients.

  2. Asset-Based Finance: Investing in new machinery and equipment is crucial for staying ahead in the industry. Our asset-based finance solutions allow businesses to acquire the necessary tools without depleting their cash reserves. By leveraging the value of the assets being financed, we offer competitive terms that align with the cash flow and growth trajectory of each business.

  3. Working Capital Solutions: Managing cash flow is a constant challenge for business owners. Our working capital solution is not an overdraft facility; it’s designed to give you the financial breathing space between the cash-out and cash-in process of the cycle, by allowing credit terms of up to 180 days to support the payment of stock, forwarding and clearing costs, transportation and insurance costs, customs VAT and duty payments.
     
  4. Debtor Finance: Cash flow can be unpredictable, especially when payments from customers are delayed. Our debtor finance solutions provide immediate access to funds based on outstanding invoices, ensuring that businesses have the liquidity needed to operate smoothly and seize growth opportunities without waiting for payments.

  5. Expert Guidance: What sets us apart is our personalised approach to service. We take the time to understand each client’s unique circumstances and goals, offering bespoke financial solutions that drive success. Our team of experts is always on hand to provide guidance, helping businesses navigate the complexities of the financial landscape and make informed decisions.

Challenging Economic Times

The South African economy is facing significant challenges, including inflation, fluctuating interest rates, and regulatory changes. These factors can create an uncertain environment for business owners, making access to reliable financial support more critical than ever.

Our financial solutions are designed to provide stability and growth, even in turbulent times. By offering flexible repayment structures and customised financing options, we ensure that businesses can maintain their operations, invest in innovation, and achieve sustainable growth. Our proactive approach includes staying abreast of regulatory changes and market trends, enabling us to advise our clients effectively and help them mitigate risks.

Real-Life Success

Consider the example of one of our clients, WD Hearn, based in Cape Town. Their stand at Machine Tools Africa was one of the largest, showcasing a variety of high-end machines. Despite the considerable expense involved in transporting and setting up the stand—an investment exceeding half a million rand— their optimism paid off. For another client, Magnum, on the first day alone, they sold seven machines, covering their costs and securing further business for the remaining days of the exhibition.

Positive Impact: Beyond Revenue

Our time at Machine Tools Africa went beyond immediate financial returns and into a positive impact on our clients, our staff, and the broader market. By showing up and supporting the industry, we send a clear message of confidence and commitment. Seeing our stand and our active engagement at the event reassures them that we are invested in their future, unlocking new opportunities, fostering resilience, and contributing to the prosperity of our nation.

To find out more about our tailored financial solutions, click here.

About the Author

Michael Latchigadu
Head: Trade & Debtor Finance, Sasfin Bank

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