Cat Financial (Dubai) and Standard Bank said they have entered into an agreement through which the bank will provide a range of financial services to Caterpillar’s customers in six African countries, including Nigeria.

The Cat Financial and Standard Bank Group co-branded asset finance will also be offered in Kenya, Uganda, Tanzania, Ghana, and Sierra Leone, which are countries covered by the Mantrac Group of Cat dealerships.

Cat Financial president, Kent Adams, said, “The combination of the Cat Financial brand with Standard Bank, which is a well-respected and trusted financial institution within Africa, creates a powerful competitive advantage for our dealer networks to enable them obtain financing for their customers and enhance their sale of equipment.”

Adams noted that there is a good cultural fit between both parties, which would ensure a uniform customer experience, said the pact supports Cat Financial’s goal of increasing its brand presence in Africa and growing business in southern, central and western Africa.