‘Sasfin makes importing as easy as domestic trade’

Catering for small to medium-sized businesses Maurice van Bergen É ‘Our import facilities make foreign trade financially viable and administratively simple.’ THE RECENT strengthening of the rand has somewhat alleviated importers’ cash flow pressures, but imports by their very nature place a heavy toll on companies’ cash flow, says Maurice van Bergen, assistant general manager of Sasfin Bank’s commercial finance division. “We understand this and will structure a client’s facility in such a way that cash in-flows and out-flows are matched,” he says. “Our import facilities make foreign trade financially viable and administratively simple for our clients. In fact, it makes importing as easy as domestic trade. “Through our foreign offices we can open documentary letters of credit or sometimes a letter of confirmation, which is far cheaper, and will suffice to pay foreign suppliers where open accounts have been negotiated. These services also attend to forward exchange contracts.” Sasfin Bank caters for small to medium-sized businesses, offering expertise which is no longer readily available through the traditional banks, says Van Bergen. His group does not compete with the big banks. “We take the time and make the effort to understand our clients’ needs and their financial position. We interpret the value of traditional and alternative securities differently, add to this a creative structure and produce a winning formula. “With the assistance of our subsidiary company Premier Freight, one of South Africa’s top 10 forwarding and clearing companies, we can take structured finance deals even further as they can be involved in the control and distribution of financed goods. In fact, cross selling in the Sasfin group is paying enormous dividends.” South African exporters should not be disheartened in their efforts to develop overseas markets because of the recent strengthening of the rand, he says. Exchange rate volatility should not be the driving force behind exports. “We have good quality products and services to offer to the rest of the world and must continue to look to foreign buyers. Sasfin Bank is able to assist these exporters with pre- and post shipment finance covering the local cash flow cycle of purchasing raw materials, manufactured goods, work in progress, delivery and collection periods. Here again Premier Freight can facilitate the physical movement of these goods.” Tailored solutions are the name of the game when it comes to trade finance. Leading providers outline the options.