As businesses face difficult economic decisions and survival strategies, they must have the right resources, the right team, and the right systems in place to build the leverage needed to advance to the next level. The Absa CIB deal team has once again demonstrated their capabilities and know-how in delivering innovative solutions to meet our clients' strategic objectives.

Absa CIB, through its Trade & International Banking division, successfully signed Cape Gate as a new-to-bank client following a full take-over from the long-standing "house" bank. Cape Gate is the largest, vertically integrated steel, wire and wire product manufacturer in South Africa. Cape Gate supply steel, wire and wire products mostly to the South African and Sub-Saharan market, with limited exports to Central Africa, America and Europe.

At Absa CIB, we understand that the cornerstone of any business's success is working capital. We were able to provide working capital in a seamless and cost-effective manner by expertly understanding their business activities, including operations, investing and financing needs.

Today's ever-changing business landscape necessitates an innovative partner capable of providing digital end-to-end funding solutions to finance your trade & working capital requirements. The funding solution was designed and priced to meet the client's needs and included an Account Receivables and Inventory Finance (ARIF) solution, Forex Exchange (FX) hedging, asset finance, cards, and domestic and international transactional banking. This victory also strengthens our ability to build relationships that bring Africa's mineral wealth to the rest of the world, all while executing on our refined business strategy to achieve our goal of being a premier Pan-African Corporate and Investment Bank.

The deal team was instrumental in delivering a digitally enabled innovative structure as part of the funding package that specifically addressed Cape Gate's business operating model in a timely manner; and the funding solution was structured and competitively priced in line with their requirements, allowing them to easily transition to Absa bank. The client can now easily transact with Absa in a paperless and convenient manner, which speaks to our commitment to service excellence and client-centricity. Because of the deal team's ability to think outside the box and adapt quickly, the Cape Gate transaction was originated and closed in an expert manner.

You need a partner who will go above and beyond to provide funding solutions in these difficult times. Absa Corporate Investment Bank has a track record of providing innovative banking solutions that assist our clients in achieving their strategic goals. Our 150 years of African heritage, combined with a footprint that spans 14 countries on the continent, positions Absa Corporate and Investment Banking as a bank that understands that working capital is essential to the success of any business.

Choose an innovative partner to help fuel the growth you seek.

The bravery to imagine. That’s Africanacity

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