Nedbank CIB funds Zeda Group to facilitate its growth strategy

 

We are proud to celebrate the integral role Nedbank CIB continues to play in advising and providing funding to the car hire provider and fleet manager provider Zeda Group to facilitate its growth strategy.

Through our leveraged and diverse finance business, we were instrumental in helping our client assemble a pivotal debt package. This was strategically designed to address their funding requirements in unbundling from Barloworld and subsequent separate listing on the Johannesburg Stock Exchange (JSE).

Our involvement was crucial in support of their liquidity position, growth ambitions, and standing as market leaders. Over the past 18 months we have provided Zeda car leasing facilities totalling R1.9 billion.

 

We are pleased to have partnered with Nedbank CIB as a strategic advisor and provider of debt funding to the Zeda Group. The support from one of the major banks, at a time of material changes in our organization, was important, and underpinned the strength of our financial position.

Thobeka Ntshiza, Group Financial Director of Zeda Group

 

The Nedbank CIB Transactional Services Team partnered with Zeda before the Barloworld separation by immersing itself in their business and gaining a deep understanding of their requirements. Through our innovative solutions, we became the primary banking partner of Zeda and its short-term car hire business.

In 2023 Zeda approved an innovative environmental, social, and governance (ESG) strategy. This pivotal decision led to the appointment of Nedbank CIB as Zeda's sustainable finance adviser and coordinator in April 2024. Our role is to provide expert advice on key sustainability strategy levers, help Zeda develop their sustainable finance framework, and structure future sustainable finance debt.

 

Our deep understanding of Zeda's business has enabled us to provide tailored solutions that support their growth. We aim to continue to unlock fit-for-purpose solutions to Zeda as the business evolves from its strong foundation to the next growth phase

Thabang Mahlangu, Sector Lead for Automotives, Transport, Freight and Logistics - Nedbank Corporate and Investment Bank