Monday 27 January 2014

RentWorks enters Namibian market

South Africa’s largest computer equipment rental firm, RentWorks, owned by FirstRand Group, has expanded into Namibia in a move the company said would help it to tap new markets with growth opportunities.
RentWorks finances more than R3 billion worth of assets for more than 400 organisations across most industries in South Africa.
The company has acquired a successful rental financing business, Corporate Equipment Rentals, in Namibia.
Established in 1998 in South Africa, and now a leader in technology rental funding, the firm developed an extensive suite of flexible rental solutions, which include sell and rent-back, exchange plan, online contract management and insurance.
The company said RentWorks Namibia would offer customers financing options for asset rental, including residual-value financing, as well as services not featured previously in Namibian financing.
Company director Jacques de Klerk said Namibia was a natural destination for RentWorks in terms of its market dynamics, especially in mining, construction, and information and communications technology (ICT). “It presents an exciting growth opportunity, and we are thrilled to be taking the RentWorks brand into new territories,” he said.
Albert Pretorius, who will head the Namibian operation, said the launch meant the company would offer equipment financing across all asset classes. “We believe there is growth potential for us in the ICT space, building on RentWorks’ expertise in IT financing while we continue to service our traditional office automation channels,” he said.
Technology and its platforms are ever-changing, prompting companies to revisit their IT spending and opt for solutions that will manage IT obsolescence cycles, which are shortening at a fast rate.
Pretorius said the launch of RentWorks Namibia will help the company continue to meet shifting market demands, and to extend personal service offerings to clients.
The trend to rent IT solutions began a few years ago, with companies exploring rental solutions for their hardware equipment.
This has enabled them, among several other advantages, to build flexibility into their procurement strategies.
The rental facility has taken off among companies as one of the options for firms that prefer to outsource assets and avoid the problem of having to deal with managing, servicing and upgrading the equipment themselves.
The RentWorks Namibia office will be based in Windhoek and service all major areas in that country.
It also said it will continue to service existing clients, and target new customers, by leveraging the credibility of the RentWorks brand and value proposition.

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