12 Jul 2016
Supply chain and logistics leader Imperial Logistics has announced the acquisition of a controlling share of Sasfin Premier Logistics - thereby creating a “formidable” new player in the freight and logistics market.
The Imperial Logistics and Sasfin Banking groups have joined forces and the new business entity, Imperial Sasfin Logistics, will offer end to end import and export solutions, from point of origin to final destination, and covering freight forwarding, customs clearing, warehousing, transport and distribution - as well as a full suite of trade finance products to facilitate international trade, reveals Johan Truter, CEO of Imperial Managed Solutions.
The new venture harnesses the vast logistics infrastructure of the Imperial group and the trade finance and forex infrastructure of Sasfin Bank, in order to offer clients a complete door to door service.
“We recognised an excellent fit with Imperial, given the group’s capability in warehousing, distribution and transport, and business experience and expertise in Africa and elsewhere,” comments Sasfin Group CEO Roland Sassoon. “This, combined with Sasfin’s complementary lending and trade solutions to clients, including trade and debtor finance, FX execution and advisory services, makes Imperial Sasfin Logistics arguably the most all-encompassing one-stop solution for clients involved in importing and exporting product. We are confident that our collective skills, experience and capability will see the emergence of a formidable new player in the South African market.”
Truter notes that Imperial sought to partner with Sasfin to leverage, among other capabilities, the group’s international network, systems and technology, including a software platform developed specifically for this complex and diverse compliance environment. “Importers and exporters face many risks which could potentially lead to inefficiencies and compromise profitability. Our partnership with Sasfin has created a strong logistics entity to which clients can fully outsource their international logistics requirements.
“We can mitigate their risks, manage their complexity, and they do not need to deal with multiple parties in the supply chain. In addition to a proven track record in managing and controlling international freight forwarding, customs clearing, warehousing, distribution and related value added services, Imperial Sasfin Logistics offers clients the competitive advantage of access to Sasfin’s financial expertise and solutions. Our aim is to simplify global trade challenges for clients,” he concludes.
Issued on: 12 July, 2016
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Sasfin Holdings Limited (“Sasfin” or “the Group” or “the Company”) is a bank-controlling company listed in the “Financials: Investment Services” sector of the JSE Limited (“the JSE”). Sasfin and its subsidiaries provide a wide range of complementary banking, financial and related services.