Sasfin and Imperial’s joint venture will be a one-stop shop for trade
FINANCIAL services group Sasfin and logistics group Imperial will form a one-stop shop for import-export businesses, wrapping up a year of talks.Sasfin CEO Roland Sassoon said on Tuesday the two groups would form the joint venture after Imperial bought 70% of Sasfin Premier Logistics for an undisclosed amount, leaving Sasfin with the rest of the shares.The venture aims to relieve pressure on clients who have to contend with a lot of red tape in crossborder logistics, from transporters in the country of origin and customs to warehouses in the destination country.Sassoon indicated that Sasfin, a business finance, wealth and transactional banking group, had chosen Imperial because of its size."Imperial is probably the largest logistics company in SA that is not in freight-forwarding and customs-clearing, with substantial warehousing and trucking facilities and a huge client base," he said.In freight-forwarding, Sasfin conveys goods from the manufacturer or producer to the end-consumer....
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