Stanbic IBTC and CAT Financial launch partnership

Caterpillar Financial Services Limited and Stanbic IBTC Bank officially launched their collaboration agreement in Lagos recently.

Caterpillar Financial Services Limited, Dubai, is an indirect subsidiary of Caterpillar Incorporation and a wholly owned subsidiary of Caterpillar Financial Services Corporation, the largest financier of CAT machines worldwide; while Stanbic IBTC Bank is a member of Standard Bank Group, which is Africa’s largest banking group by assets and earnings with a banking presence in 18 African countries.  

The collaboration is expected to provide a range of financial services to the Mantrac Unatrac Group of Caterpillar dealerships in Nigeria, Ghana, Kenya, Tanzania, Uganda and Sierra Leone.

Operations have already been successfully launched in Ghana, Tanzania and Kenya with plans to extend to the Uganda and Sierra Leone over a period of time.