South Africa’s leading vehicle and asset finance provider, WesBank, proudly announces the formation of a strategic alliance with GAC Motor South Africa as part of the newly launched vehicle importer’s go-to-market strategy.
At the heart of the partnership is the formation of GAC Motor Finance, a product of WesBank, which continues the bank’s pioneering tradition of being the first lender to enable dealers – now including GAC Motor dealers – to seamlessly provide clients with a complete suite of vehicle financing products. The partnership also includes floorplan finance, facilitating the wholesale acquisition of new and used vehicles by GAC Motor dealers.
WesBank CEO Ghana Msibi said: “As a bank that’s committed to enabling South Africans from all walks of life to attain their aspirations for mobility, WesBank’s partnership with GAC Motor South Africa is a perfect fit, allowing car buyers in South Africa easy access to vehicles in the GAC Motor portfolio that combine quality, innovation and cutting-edge design across a premium, yet affordable lineup. The two brands’ passion for innovation has the potential to further liberalise mobility for car buyers in South Africa, and we look forward to being part of that journey.”
Leslie Ramsoomar, MD of GAC Motor South Africa and its import partner Salvador Caetano SA, said: “It’s a privilege to partner with WesBank in establishing the GAC Motor brand in South Africa, and an incredible milestone for Salvador Caetano SA as we celebrate a partnership with the bank that spans over 30 years. It’s always easy to join an existing venture but putting faith in a start-up is the type of commitment that we’ve come to expect from WesBank, and one that we truly appreciate.”
Signed at the start of Transport Month in October, the agreement assures GAC Motor South Africa access to WesBank’s national network of agents and marketing resources to support the successful introduction of models such as the EMKOO and EMZOOM to the local market.
These will be followed by the introduce the Aion Y, a five-seater full-electric crossover that promises up to 490km of range, which should bode well for South Africans whose transition to electric mobility has been hampered by the range anxiety associated with earlier full-electric cars.
Lady Killer
In 2015, Ran Neu-Ner and Gil Oved sold their business, The Creative Counsel for an estimated R1 billion. The Creative Counsel is the largest advertising agency in South Africa employing more than a thousand permanent staff and tens of thousands of temporary staff every year. The Creative Counsel launched an incubator to support transformation within the industry. Start-ups in media, marketing, digital and mobile industries will receive support and mentorship from the agency\’s management team. In 2017, Ran Neu-Ner pledged R50 million to assist young entrepreneurs develop and grow their businesses. Gil Oved went on to become one of the \”dragons\’ on the South African edition of Dragons\’ Den, as well as one of the \”sharks\’ on M-Net\’s Shark Tank. In 2016, Both entrepreneurs won the EY Southern Africa World Entrepreneur Award for 2016 in the Exceptional category.