COMPANIES: From A to Z: Zeda’s unbundling from Barloworld is now complete

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The diversified vehicle company has returned to the main board of the JSE, 17 years after it first listed on the stock exchange under Avis South Africa.

Diversified vehicle company Zeda hit a bit of a speed bump on listing on Monday, dropping 7%. But the spinoff of the diversified vehicle rental and leasing operation will enable Barloworld, a global industrial processing, distribution and services company, to refocus on its core businesses: earth-moving equipment and consumer businesses.

In a statement issued before the listing, Ganda said: “The listing is a culmination of three years of hard work and dedication to unlock our mobility aspirations for Southern Africa. We foresee a future of usership, where our customers can rent a vehicle from us for a specified amount of time and a set cost. Customers have a vehicle when they need it and don’t when they don’t need it – thereby reducing the overall cost of ownership for the customer.

“Zeda knows how to ensure that a car generates a good return. All that a consumer needs is access to a vehicle. If we have not learned anything from Covid – paying insurance and maintenance on a vehicle [that you don’t drive], then I think we still have somewhere to go.” It also puts them in direct competition with the banks, whose customers think they own a vehicle, but at the end of the loan period – which can stretch into 96 months – they are faced with a residual balloon payment of up to 35%. So, do you really own the vehicle, she asks.

 

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