The newly appointed Sasfin financial director says the sluggish recovery in SA’s economy presents a headache for small businesses hit hard hit by the Covid-19 pandemic lockdowns.
"Small businesses need financial partners and banking partners that can assist them through these difficult times. I think Sasfin has shown quite resilient results in supporting their customers through the Covid-19 pandemic," Harriet Heymans said on Wednesday.
But new small businesses have emerged, creating potential opportunities for Sasfin, which provides banking services to mainly small and medium-size entities.
"I think through their business and banking partners, small businesses can also leverage off those opportunities," Heymans said.
"Sasfin is very good at not just offering core generic banking products, but ones that are solutions based, rather than just pushing out products."
Sasfin has said it is targeting medium-sized corporates seeking loans of R20m-R150m, a segment of the business banking market it believes does not get enough attention at larger banks.
Online delivery services are some of the businesses that have gained traction after consumers initially shunned crowded spaces for fear of contracting the virus.
But other small businesses in the tourism and hospitality sectors in particular have taken strain as a result of initial tighter lockdown restrictions and a slump in business and leisure travel.
Heymans began her new role as financial director in April, replacing Angela Pillay who resigned in early January after nearly four years in the job.
The new finance chief has a solid track record that includes spending more than a decade at Absa Bank, where she held senior roles ranging from managing its retail savings and investments, to CFO of retail channels, savings and investments, as well as national manager of Absa Fleet Management.
She is also the former CFO at Standard Chartered Bank and Imperial Financial Services and UBank.
"Harriet is an excellent match to achieve our objectives at Sasfin," Sasfin CEO Michael Sassoon said in a statement.
"Her large bank experience, exposure to asset finance and supporting SMEs at UBank provide us with a diversity of experience that will advance the trajectory we are on.
"Most importantly, as a purpose-led organisation, we are always searching for those driven to support local businesses and improve our economy. It’s a critical ingredient that matters to us," Sassoon said.
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