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RentCo Africa Powers Business Growth with Milestone Handover of 82 Trucks and Trailers to Simba Logistics in Tanzania.

Dar es Salaam, Tanzania on Monday 4th March 2024 – In a landmark event that underscores the transformative power of leasing in driving economic progress, RentCo Africa Tanzania Limited, in collaboration with I & M Bank Tanzania, Saturn Corporation Limited, and Vercoe Vehicle Auto Parts Co. Limited, has successfully handed over 82 trucks and 82 trailers to Simba Logistics. This strategic partnership not only marks a significant boost for Simba Logistics’ operational capacity but also highlights the collective commitment of these entities to turbocharge the acquisition of operational assets across different sectors, thereby fueling business growth and contributing to the Tanzanian economy.

Press Briefing at Simba Logistics & Equipment Supply

The collaboration between RENTCO AFRICA LIMITED , East Africa’s leading asset leasing company, I&M Bank Ltd , the financier, Saturn Corporation Limited, the official distributor for SinoTruk in Tanzania, and Vercoe Trailers & Auto Parts Ltd, the trailer specialists, is a true testament to the synergistic potential of leasing, financing, and automotive expertise. This alliance is set to catalyze a ripple effect of economic benefits, including the creation of employment opportunities, increased tax contributions, and a robust injection of business activity across multiple sectors such as financial services, insurance, vehicle dealerships, and auto parts providers.

Moreover, this initiative is poised to spur the expansion of local assembly and Original Equipment Manufacturers (OEMs), paving the way for more branches, dealers, and service centers. In today’s uncertain financial climate, the leasing of movable assets stands out as a viable, flexible, and creative financing option, enabling governments and organizations alike to acquire today’s assets at today’s price, but paid with tomorrow’s revenues.

Ceremonial Handover of 82 Trucks and Trailers by RentCo Africa to Simba Logistics & Equipment Supply

The collaboration between RENTCO AFRICA LIMITED , East Africa’s leading asset leasing company, I&M Bank Ltd , the financier, Saturn Corporation Limited, the official distributor for SinoTruk in Tanzania, and Vercoe Trailers & Auto Parts Ltd, the trailer specialists, is a true testament to the synergistic potential of leasing, financing, and automotive expertise. This alliance is set to catalyze a ripple effect of economic benefits, including the creation of employment opportunities, increased tax contributions, and a robust injection of business activity across multiple sectors such as financial services, insurance, vehicle dealerships, and auto parts providers.

Moreover, this initiative is poised to spur the expansion of local assembly and Original Equipment Manufacturers (OEMs), paving the way for more branches, dealers, and service centers. In today’s uncertain financial climate, the leasing of movable assets stands out as a viable, flexible, and creative financing option, enabling governments and organizations alike to acquire today’s assets at today’s price, but paid with tomorrow’s revenues.

“This collaboration manifests potential of leasing to turbocharge asset acquisition and stimulate economic growth,” said Robert Nyasimi , CEO of RentCo Africa. “By providing flexible and creative financing options, we empower governments and organizations to access essential assets without the upfront burden of ownership, ultimately driving operational efficiency and business performance.”

RentCo Africa firmly believes that the adoption of leasing in both the public and private sectors will provide a competitive edge in operations and business performance, propelling Tanzania’s economy to new heights. Additionally, this investment in the logistics sector is a positive development for the economy as a whole, creating job opportunities in areas such as transportation, maintenance, and support services. A more efficient logistics sector also contributes to lower transportation costs, ultimately benefiting consumers through reduced prices of goods and services.

About RentCo Africa Limited:

RentCo Africa Limited is a global financial services group operating in 25+ markets in Africa and beyond. As an independent asset leasing company, we offer off and on-balance financing through bespoke leasing products to both public and private sectors. Our flexible leasing options cover all movable assets, including vehicles, machinery, equipment, and technology solutions. By providing access to essential resources without the burden of outright ownership, we help businesses optimize their operations, increase productivity, and conserve capital. As we celebrate our 11th Year Anniversary of Impact, we remain committed to Accelerating Sustainable Business Growth in East Africa through Asset Leasing.

For inquiries or further information, please contact:

Florence W. Mathenge

RentCo Africa Group External Affairs & Corporate Communications

RentCo Africa Limited | 2nd Floor, Paloma Park Limited Plaza No.23 Ursino Estate, Off Bagamoyo Road, Kinondoni, Dar es Salaam, Tanzania

Tel: +254) 20 2308 948 / 704 272 808 | (+255) 22 294060/61/62/63

communications@rentcoafrica.com | https://www.rentcoafrica.com

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