‘Solutions relevant to local demand’

Low cost, uncomplicated options
KEVIN MAYHEW
BECAUSE SOUTH African traders must “keep their eye on the ball” they require financing options that can adapt rapidly to maintain international competitiveness – particularly as the country is developing and conditions are changing.
The head of Stellenbosch-based Anglo African Trading’s treasury, Dr Hendrik de Waal, says they also have to recognise that such a market requires low cost and uncomplicated finance solutions.
“The international trade environment means that what was good yesterday will not necessarily be relevant tomorrow and it is important that products do not increase the administration burden of clients,” De Waal said.
He added that all his company’s products had been developed in the South African marketplace with the focus on ensuring that the solutions offered were relevant to local demand.
Anglo African’s repertoire of products range from the issuing of letters of credit, foreign payments and taking out of forward cover, to the discounting of export and local invoices.
While logistics finance remains a large part of the business, the product that has grown the most is the general discounting facility which was originally designed for the larger exporter where conventional invoice discounting becomes cumbersome
The general discounting facility also offers flexible prime based funding, central treasury functionality, competitive exchange rates, efficient reporting on all foreign receipts and hedging instruments, De Waal said.