Africa has been experiencing leasing boom over the years with vehicle and equipment leasing taking the largest share of the entire industry. Car leasing, for instance, which has grown by 20%, has gained popularity among businesses. Surprisingly, it is not only the private sector that is opting for this method of financing. Governments and NGOs are making use of it as well. Although we could not establish the whole list of all the leasing companies in the continent, we sampled a few which have stood out amongst their peers. Leasing delivers strong developmental impact in Africa by playing a critical role helping SMEs access finance, and promoting financial sector development. According to the research done, the countries leading in adoption of asset acquisition through leasing include; South Africa, Kenya, Nigeria, Senegal and Ghana.
The following are the 10 top leasing companies in Africa in no particular order.
- Vehicle and Equipment Leasing Limited (VAELL)
Vehicle and Equipment Leasing Limited (VAELL) is the largest asset leasing, maintenance and consulting in Eastern and Central Africa region. It has presence in the automobile, healthcare, mining, agricultural, telecommunication, construction, gas and oil sector. VAELL, the leading provider of integrated leasing services for a broad range of moveable assets and machinery across the region, has geographical coverage with fully fledged subsidiaries in Uganda, Rwanda, Tanzania and Zambia. It facilitates clients with vehicles and machinery throughout the region from any one country office across its network.
In 2014 VAELL won the award for the Best in Transport, in the Top 100 KPMG/Business Daily survey, and 2015 shot into Club 101 in the same survey. It has scooped 14 awards in the last 5 years.
Vaell is in over 23 countries of Africa. It is also has footprints in Asian Market. It is believed to be the biggest leasing firm in Africa with stiff competition from South Africa and Nigeria.
- WOODBRIDGE Capital Leasing
WOODBRIDGE Capital Leasing Ltd was incorporated in Nigeria in May 31st 2012 while operations commenced in August 2012.
Management, professional and technical expertise are the company’s major assets and investment in their further development would continue as the company grows.
- Fleet Africa
Fleet Africa specialises in fleet management and full maintenance leasing solutions for both the public and private sector. According to their website, Fleet Africa offers solutions for business challenges and designs an outsourced fleet solution tailored to meet specific business requirements. They are committed to helping their customers reduce costs by ensuring the efficient fleet operation.
FleetAfrica is a single source, across-the-board, fleet management services provider offering a range of flexible product options on every vehicle class, from passenger vehicles to trucks, fire-engines to ambulances and a variety of specialised vehicles. Their solutions integrate seamlessly, and are transparently scalable according to business requirements.
- IFC Africa Leasing
Launched in 2008, the IFC Africa Leasing Facility is a five-year, multi-country advisory services program aimed at introducing leasing as an innovative financial instrument across Sub-Saharan Africa. The facility’s goal is to increase access to finance for micro, small and medium enterprises (SMEs) in a number of important sectors, including agriculture, transportation, construction, and manufacturing. The African Leasing Facility, run from Senegal, is being implemented by IFC Advisory Services in Africa and is funded through IFC’s Private Enterprise Partnership for Africa (PEP Africa) in partnership with the African Development Bank, Denmark, Ireland, Japan, Luxemburg, The Netherlands, Norway and Switzerland.
The facility is currently managing programs in 14 countries: Burkina Faso, Cameroon, Cape Verde, Democratic Republic of Congo, Ethiopia, Ghana, Liberia, Madagascar, Mali, Mauritania, Rwanda, Senegal and Sierra Leone.
- Hertz Lease
Hertz Malta has been actively operating in Malta for over half a century. Their experience in vehicle management has established them as front runners in the industry, providing various an array of vehicles and services for both personal and business use. Hertz Lease provides its customers with complete vehicle solutions, with an array of leasing plans that fit both personal and corporate requirements.
- GB Lease
GB Auto’s first financing venture, established in 2008 to provide financing to GB Auto’s commercial vehicles and corporate fleet clients. The company started active operations in 2009 and has now grown into a well-developed organization with a diversified lease asset base that covers all asset classes, including real estate, construction equipment, production lines, automotive and others. Tenure is medium-term, and the company focuses on risk diversification by asset class, industry sector, and client; operating with prudent risk management practices with regards to provisions and risk recognition.
GB Lease provides business-to-business financial leasing solutions that are nonexclusive to GB Auto, catering to a diversified client base ranging from top-tier multinationals to local corporations of various scales, as well as small and medium enterprises. GB Lease is regulated by and operates under the auspices of the Egyptian Financial Services Authority (EFSA). As per the EFSA, at year end 2016 GB Lease ranked as the third leasing company in the Egyptian market with a market share of 10.66%, rising to the position of first place contender as at March 2017, with a market share of 14.7%.
- Corporate Leasing Company.
CORPLEASE has been successfully operating in the Egyptian leasing market since 2004. The company provides leasing products and services tailored to meet corporate capital expenditure needs for a wide variety of assets, which includes commercial real estate, equipment financing, plant and machinery, transportation assets, systems & IT, office equipment and fleet management. CORPLEASE is at the leading edge of innovation in the domestic leasing industry with a clear business model, an ambitious vision and impressive growth plans. The company is continually investing in its resources to maintain high standards of service and to meet the needs and requirements of a diverse base of customers. Since inception, CORPLEASE has adopted conservative credit underwriting and risk management principles which have resulted in a well-diversified and high quality portfolio that reacted well to the changes in the business environment. The quality of the company’s lease portfolio remains robust, with a collection rate in excess of 97%. In 2014, and for the second time, CORPLEASE earned an award for “Best Securitization Deal in EMEA” from EMEA Finance for its third asset- backed securitization, a near US$ 100 million instrument.
- Fleet partners
FleetPartners Leasing Limited is an asset leasing and fleet management company established to provide unequalled professional services to all fleet operating industries in Africa. FleetPartners is interested in not only providing you with vehicles, but also managing them professionally and efficiently. They provide vehicles to their clients’ at the most convenient means of payment through uniquely designed lease solutions
With over ten years of experience, distinct professionalism and technical expertise, the facility leases out vehicles at the most convenient means of payment through uniquely designed leasing options/ solutions to meet your fleet and financial needs. Fleet partners also lease a wide range of vehicles and onshore vessels.
- Sixt Rent a Car
Sixt rent a car is one of the leading leasing companies with presence in Kenya and other African countries. It however was founded in 1912 in Munich, Germany, and started out with a fleet of just three vehicles. As one of the first and most important international car rental companies in the world – with over 100 years in the business – the company has earned a trusted reputation as a global leading car rental provider. Always at the forefront of the industry and the first to accept mobile reservations. Today Sixt rent a car is present in over 105 countries with branches in over 2,200 locations. According to their website, you will be able to find a Sixt car rental services internationally, in almost every major city and tourist destination worldwide and at convenient locations such as airports, train stations, cruise ports, and hotels.
- Thrifty Car Rental
Thrifty Car Rental is one of the largest car rental companies in the world and is a wholly owned subsidiary of Dollar Thrifty Automotive Group, Inc. Through corporately-owned and franchised stores, the company operates more than 1,000 locations in 77 countries. Thrifty is one of the most widely recognized brands in the travel industry that caters to cost-conscious business and leisure travellers.
Thrifty owns a fleet of: Luxury Cars, 4×4 Vehicles, Minibuses for 7-9 or 11 passengers and Buses for 30 to 70 passengers.