Corporate and Investment
Corporate and Investment Bank
Products and Services
Products and Services
Transaction Banking
Cash Management
Trade Finance
Investor Services
Swift for Corporates
Transactional Channel including Business Online
ISO 20022
Global Markets
Commodity Trading
Credit Trading
Equity Derivatives
Exchange Traded Products
Foreign Exchange
Interest rates trading and structuring
Money Market Instruments
Debt Solutions
Debt Capital Markets
Investment Banking
Equity Capital Markets
Principal Finance
Sustainable Finance
Wealth and Investment

Collaborative business relationship brings about an exciting new deal in the auto industry

01 Jun 2021

South Africa
Diversified Industries
Business Unit
Corporate and Investment Banking
Specific Role
Working capital provider and Transactional banker
An exciting new deal has been signed for the automotive industry that will lead the way in the economic recovery of the province as well as in the rest of South Africa.

The auto industry in KwaZulu has been a driving force of the economy in the province for years and deals such as this one are the first steps into rebuilding the province and country’s economic activity and post Covid-19 recovery.  

NMI, a client of Standard Bank in KwaZulu-Natal, acquired a diversified portfolio of dealerships from Barloworld, taking the dealership portfolio to 49 and giving it the ability to sell more automotive brands. This will allow the KwaZulu-Natal based company spread the economic benefits of the region into other areas of South Africa as well as neighbouring Botswana.

Vehicle retailers are at the coalface of the automotive supply chain. Their ability to sell vehicles into the market is a key determinant to the success of the overall automotive sector as sales means more production and jobs across the various tiers.