In a bid to support small business owners and taxi operators, Absa Vehicle and Asset Finance has introduced a unique new finance solution tailored specifically for the Foton Asambe minibus taxi. The launch coincided with the one-year anniversary of the partnership between Absa and Foton South Africa, and was held at Absa's Sandton headquarters.
The offering covers both petrol and diesel variants of the Asambe and includes a four-year repayment plan, culminating in full ownership. Monthly instalments start from under R12000.
Charl Potgieter, managing executive of Absa Vehicle and Asset Finance, noted: 'We're aiming to boost transport capacity for SMEs and operators with reliable and competitively financed vehicles.'
Although this is Foton SA's first official unveiling of the Asambe, over 3 000 units are already operating on South African roads. These were initially brought in by a previous, unauthorised importer, leading to concerns in the market. Despite this, the vehicle has proved reliable and robust.
To support affected buyers, Foton SA has set up a refurbishment and support hub in De Deur, Midvaal.
Each financed Asambe will include a RUTCO tracking and monitoring system and access to Absa's financial education programme. Completing the course entitles the operator to a free first service.
'Absa believes in equipping entrepreneurs with knowledge,' said Fulufhelo Mandane, Executive: Strategic Partnerships at Absa. 'A financially savvy business owner is better positioned for long-term success.'
The Asambe finance deal follows closely on Absa's announcement of a new partnership with EV brand BYD.
PetrolDieselPurchase PriceR439 900R499 900Extras (RUTCO)R20 000R20 000Deposit (10%)R45 900R51 990Loan AmountR415 118R469 118Term48 months48 monthsRate15.25%15.25%Instalment + Service FeeR11 970R13 518
Staff Writer
Reporting from the front lines of the automotive industry, delivering expert analysis and the technical updates that drive the South African motor sector forward.
