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Nedbank Group successfully acquires Eqstra Investment Holdings

Nedbank Group successfully acquires Eqstra Investment Holdings

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Staff writer

Posted 14/6/2024 Updated 23/7/2024 2 mins

2 mins

Nedbank Group successfully acquires Eqstra Investment Holdings and expands services in southern Africa

 

Nedbank Corporate and Investment Banking (CIB) through its Corporate Finance unit is proud to announce the successful conclusion of the acquisition of Eqstra Investment Holdings (Eqstra) by Nedbank Group. The acquisition will expand Nedbank’s product and services offering in Namibia and Eswatini and extend its footprint into a new market, Botswana. 

 

Eqstra provides the following services and solutions:

  • Comprehensive passenger vehicle services, including:  

  • vehicle leasing

  • fleet management 

  • outsourcing solutions

  • maintenance; and  

  • warranty management

  • Vehicle tracking solutions 

  • Fleet management solutions for commercial vehicle fleet owners and logistics solutions

Eqstra operates in South Africa, Botswana, Eswatini and Namibia.

Through the transaction, in which Nedbank Corporate Finance acted as sole corporate adviser, Nedbank will be able to enhance and complement its existing fleet management business (NedFleet) and provide an integrated approach to fleet management that is aimed at improving quality, cost and efficiency for both Nedbank and Eqstra clients.

 

‘This was a complex transaction. The successful conclusion demonstrates the world-class advisory expertise and exceptional people at Nedbank Corporate Finance. It also shows how we deeply engage with our clients meaningfully by leveraging the power of our talented team.’ – Shabbir Norath, Head: Advisory

Concluding this transaction for Nedbank also demonstrates our ability as the Nedbank Corporate Finance Team to effectively and efficiently assist clients with innovative transaction solutions and execute complex transactions timeously with precision and care.’ – Sadick Shar, Principal: Advisory

‘The acquisition by Nedbank marks a significant milestone for Eqstra. We are excited to join forces with a financial institution that shares our commitment to excellence in fleet management services. This partnership will enable us to enhance our offerings and extend our reach, providing superior solutions to our clients across southern Africa.’ – Jacqui Carr, CEO: Eqstra Investment Holdings

‘We are excited to announce the acquisition of Eqstra that will enhance Nedbank’s existing fleet management business and provide an integrated approach to fleet management, aimed at providing better quality, cost and efficiency to Nedbank and Eqstra’s joint clients.’ – Dayalan Govender, ME: Solutions Innovation

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