Johannesburg, South Africa – 6 June 2024, Absa and Renault in South Africa are delighted to announce a strategic alliance designed to drive market-leading growth for both businesses.
This partnership brings to market the launch of Renault Financial Services, a finance product of Absa, aimed at offering finance and other comprehensive suite of financial services to Renault customers.
Through this alliance, Renault dealers will gain unprecedented access to Absa’s robust portfolio of financial solutions for both retail and wholesale finance. This integration will also provide a seamless, efficient experience for dealers and customers alike, streamlining operations and enhancing customer experience.
“By aligning our services with the Renault dealership network, we are not just offering financial solutions but also creating an ecosystem that supports the automotive industry’s growth and development,” said Charl Potgieter, Managing Executive: Absa Vehicle Finance.
Key benefits of this alliance include Absa and Renault in South Africa collaborating to deliver bespoke, flexible finance and credit solutions to customers. The alliance will also leverage an expanded sales network to accelerate growth for both alliance partners, setting the stage for Absa and Renault in South Africa to compete head on in the automotive sector.
“At Renault, we are committed to delivering high-quality vehicles and a customer experience that exceeds expectations. We believe Renault Financial Services, a finance product of Absa, will add to the Renault Value Added Services offering aimed at enhancing the customer buying experience and drive vehicle sales for the Renault dealership network”, comments Mr Shumani Tshifularo, Chief Executive Officer: Renault of South Africa.
As a leading pan-African bank, with a presence in 15 countries on the continent, Absa supports its partners in exploring new opportunities across the continent. The bank’s digitally powered approach will also ensure that Renault Financial Services’ customers enjoy market-leading turnaround times on deals, from application to payout.
“Our alliance with Renault in South Africa underscores our commitment to being a primary partner to our clients. Our goal is to offer customers seamless financial solutions, empowering them to write their life stories with their mobility needs taken care of,” said Potgieter.
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SA is ranked 10th out of 183 countries for good practice in protecting investors in business. (World Bank Doing Business Report 2011).