Sizwe Asset Finance was founded in 2003. It is an independently owned company that offers unique financial services and solutions, on various assets, to the Government and Private Sector Industry within the borders of South Africa.
Sizwe Asset Finance was founded in 2003, initially as a division of a well known IT Group. The previous board decided to establish a rental arm as part of their service offerings to the private and public sector markets.
The rental division grew from strength to strength and the need arose to establish itself as an external funder to other industries outside of the ICT sector . In early 2005 the business was converted to a fully owned subsidiary company called Sizwe Asset Finance (Pty) Ltd “SAF”.
In 2008, the management of SAF was successful in negotiating a Management Buyout from the the IT Group which was funded on a loan basis and fully repaid in 2013.
The name “Sizwe” means “Nation” in Khoza and although SAF decided to keep the name , it must be noted that there is no shareholding link to the existing the IT Group and SAF.
SAF is currently independently owned and offer unique financial services and structures on various assets to the government and Private sector industry within the borders of South Africa.
To be a pioneering resource in the financing arena that will stimulate the business sector and demonstrate the power of enterprise and private capital in bringing the best financial solutions and structures to our clients.
We aim to do this by being Energetic and Innovative in our approach and engagement with prospective clients. With the support from our strategic equipment-, funding- and insurance partners, SAF will promote and position comprehensive and sustainable finance solutions, purpose built to cater for the business sector within Southern Africa.
SAF offers unique Asset Based Finance solutions to the private- and public sector via their network of funders including Financial Institutions, Investors , OEM’s and own funding. SAF focus its attention in the following industries:
SAF has setup and secured Funding mainly via finance institutions, OEM’s as well as own internal funding resources.
Our Online Work flow System has been successfully assisting suppliers since 2004.
Sizwe Asset Finance (Pty) Ltd “SAF” was established in 2003, initially as a division of the well known IT Group but was converted to a fully owned subsidiary in 2005. The core focus was to facilitate Rental finance facilities for the clients of the IT Group and SAF therefore established Rental finance facilities with various banks in SA.
Karl Bauermeister (Director of SAF) - CEO of SAF since 2013 & IVR since 2015
Rental finance started to increase especially in the ICT-, Medical equipment and vehicle industries and in 2011, therefore it was decided to grow this business again and appoint a finance team, led by Leon Kotze ( Current COO of SAF).
A team was employed who were all skilled in Asset Rentals or had vast banking experience which resulted in SAF contracting to IT Group to provide a specialised Financial Service to the group and its clients alike. The critical key positions include:
• Leandré van der Merwe, Qualified CA (SA)
• Karl Bauermeister ( 33 years banking experience)
• Eddie Theron (21 years Asset Finance experience)
In 2015 SAF Management decided to appoint further Senior Bank experienced staff for various sales positions in Gauteng, Cape Town and KZN areas as the IT Group is well represented in these areas. SAF appointed Morne’ Steyn (Financial Manager) to assist the Group Financial Manager in the daily operation.
2016 to 2017: SAF will invest a large portion of its profits in the appointment of new staff in areas like Cape Town, Mpumalanga, Free State, KZN and Limpopo in order to have a national footprint.
The SAF staff compliment has grown from 3 in beginning of 2011 to currently 15!
Karl Bauermeister : Director (CEO)
Eddie Theron : Director Risk and compliance
Leon Kotze : COO
Morné Steyn : Manager: Finance
Hillary King : Manager: Vehicle Finance
Vuyelwa Xaketwane : Manager: Administration & Compliance
Karl has 33 years’ experience in the Financial Services Industry primarily with FirstRand Group (Wesbank, FNB and FNB Home loans) Standard Bank Vehicle and Asset Finance, quickly moving up through General Management, Director and CEO levels and sat on the boards on all these companies that reported into him.
Karl has won various leadership awards namely by the Global Pacific Institute in recognition of his contribution to the SA economy; the Club of Excellence award for his outstanding contribution to McCarthy Motors Holdings; the SITE Crystal Award for the Best Worldwide Strategic Incentive Program (2007 – awarded in California) for his drive to increase sales volumes in the Motor Industry for Standard Bank SA.
He holds a Certificate & Diploma in Management from Hendley (London) and MBIA & MDP presented by Wesbank.
Eddie Theron ( Director of SAF and IVR ) - Head: Risk & Compliance
Head of Risk& Compliance. Eddie studied B.Comm Marketing (Hons) at University of Pretoria and joined Wesbank Corporate Finance in 1994, where he focused on various types of assets but specifically mastered in Commercial Vehicle finance; the Agri industry; Yellow metal /Material Handling and ICT.
In 1999 to 2005 he headed up the Discounting Division within Wesbank Corporate finance and gain tremendous experience in discounting of ICT products and services. He successfully completed two 18 months courses at FNB study centre : Masters in the Art of Finance and MBIA.
Eddie joined Sizwe Asset Finance in early 2006 focusing on specialised finance on products such as ICT equipment, trucks and trailers and yellow equipment. Eddie then moved up to the position of Head: Risk and compliance and holds this position to date.
Leon Kotze: COO of SAF & IVR
COO of SAF since 2011. Leon has 8 years Rental Finance experience with prime focus on Government Finance. He has a Higher Diploma (Town and Regional Planning) with Cape Town Technicon. Leon gained extensive knowledge into ICT finance since 2007 and Motor Vehicle Finance since 2013.
Morne Steyn: Financial Manager
Morne studied B.Comm Financial Accounting (Hons) (SAIPA) at University of North West and finished his articles at Questus Inc. Auditors and joined them
for an extra year before he joined SAF in 2014. Morne currently manages both SAF and Ignition Vehicle Rentals from an accounting point of view.