News Column

New Financing House Starts Operations

July 9, 2014

CAPX Finance Namibia has announced the establishment of a new financing house in Namibia.

CapX's says its mission is to provide simple and easy access to bridging finance to particularly the SME market.

"CapX seeks to complement the existing role players in the Namibian financial institutions landscape, but with its specific suite of tailor made products, to focus in the area of SME financing that is well known for its lack of access to suitable sources of financing," said CapX director, Abri Nel yesterday.

Nel said CapX is a Namibian company partly owned by CapX Holdings of South Africa. CapX South Africa has a track record of over 13 years in the bridging finance industry in South Africa.

"CapX is not a deposit taking institution and is privately funded," said Nel. The company has three main product lines, secured property loans, property bridging finance and invoice discounting.

Nel said secured property loans help entrepreneurs to seize an immediate opportunity and allow a repayment period of up to 12 months to complete the project or to refinance it.

He said property bridging finance assists estate agents and property sellers with bridging the finance gap between when a property is sold and when the proceeds of the sale is received upon transfer to the new owner.

"Invoice Discounting allows SMEs to unlock cash trapped in the strict payment terms of their blue chip clients.

Financing applications are quick and easy and can be done electronically with approvals ready within 24 hours," he said.

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Source: AllAfrica

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