Fintech (Proprietary) Limited (“Fintech”) is South Africa’s largest independent financier providing financing for technology used in business.

Created in 1981 as a broker, Fintech focused on financing the end users of the Altron group equipment sales. With Fintech’s acquisition of the Xerox business in 1988 the company evolved into a captive asset finance company with the division Technologies Acceptances financing assets within the Altron Group with a capital financed value of ± R65 million. In 1999 Fintech established Corporate Finance Solutions (Proprietary) Limited to address the needs of business which fell outside the Altron Group. The first major success in this strategy was the creation of Gestetner Finance for financing products from the Gestetner range.

The decision to raise funds through the securitisation mechanism of its rental book was made a reality with the issue of Fintech Receivables 1 bonds in November 2002. These were fully redeemed by March 2007. In August 2008 the Fintech Receivables 2 bonds worth R749 million were issued in the market. The bonds issued comprised of:                          AAA notes maturing in August 2009. 2011 and 2013                                                       AA notes maturing in August 2011                                                                                A notes maturing in August 2011                                                                                   BBB notes maturing in August 2009 and 2011                                                              BB+ notes maturing in August 2013                                                                             Fintech still applies the strategy of raising funds through securitisation with rated instruments, whether listed or unlisted. Securitisation has enabled and will continue to provide Fintech with a reliable source of funds to South Africa's equipment market in general.

The initial management buy-out of Fintech took place on 30 June 2003 with management acquiring 34% of the business and Sanlam Capital Markets Limited 33%. The remaining 33% was held within the Altron group. The buy back of the remaining Altron shareholding occurred in November 2005 leaving management and Sanlam Capital Markets as 50.75% and 49.25% shareholders respectively. In November 2006 Simeka Group bought shares in Fintech as part of a BEE transaction and holds 25.1% shares in Fintech. In July 2007 Investec Bank Limited purchased 25.1% of the Sanlam Capital Market shares in Fintech with Fintech management acquiring the balance. Fintech Management currently hold 49.8% of the shares in Fintech.

Fintech, as a leader in its field, currently has capital financed under administration of more than R 1.5 billion. Fintech in 1995 became the first financial services company in South Africa to receive ISO 9001 Certification for our servicing platform. This listing has been upgraded to the current ISO 2000 which it still holds. It is also proud of a very low bad debt history.

Fintech continues to grow in the finance industry and will continue to offer competitive finance of office automation, communication, information technology, security and medical products. This, together with the efficient administration of the assets financed, ensures Fintech’s continued success in the industry.