WITH ITS major shareholder being JSE-listed Sasfin Bank, the forwarding operation Premier Freight has a vital adjunct to its freight services, according to Michaela Milne, Premier sales and marketing manager. “Sasfin has a fully-fledged trade finance facility as one of its many divisions,” she said, “and has been involved in trade finance for imported and exported goods for many years. “Through its shareholding in Premier, a unique package is offered to the South African importer and exporter.” With the country’s focus on emerging businesses, the Sasfin/Premier combination is able to offer a complete package – with the financing and related paper work, the correct international routing, customs tariff and customs clearance formalities taking place within one group. “Should the customer require it,” Milne added, “the group is in a position to manage the entire logistics chain and financing requirements - freeing up the entrepreneur to market the product. “Debt collection is also available in-house.” In defining trade finance, Milne suggested that it can be summarised as providing finance to assist growing businesses to fund inventory, raw materials and other purchases. “Over the years,” she told FTW, “Sasfin has extended the various services to offer a complete cradle-to-grave finance and freight solution.” A feature of this service is that there is no predetermined methodology in signing up new accounts. “Each new prospect is allocated an account executive from Sasfin and an experienced freight representative from Premier,” said Milne. “A team that will fully understand the customer’s requirements and production cycles or stock turn before recommending a package. “Each is, therefore, different and unique to that particular customer.” This grouping also offers advantages to importers and exporters because - once the customer’s business matures, and more complicated financial engineering is required - this is also available through Sasfin Capital.
