Major mobility solutions provider Zeda Limited (Zeda) on Tuesday listed on the main board of the Johannesburg Stock Exchange (JSE) under code ZZD, following its unbundling from Barloworld in November.
In an earlier statement, Barloworld noted that the separate listing would allow it to focus on becoming an industrial processing, distribution, and services company.
Read: Zeda’s JSE listing set for 13 December
Zeda will continue to operate car rental brands Avis Southern Africa and Budget brands, supported by Avis Car Sales – the primary disposal channel for vehicles identified for de-fleeting.
Zeda CEO Ramasela Ganda says its listing is the culmination of three years of “hard work and dedication” to set off the company’s mobility aspirations for Southern Africa.
Read: Barloworld profit up; announces Zeda unbundling
“As a standalone business, we will be more agile in continuing to anticipate and respond to [operating environment] trends including the current positive changes that we are seeing in mobility and more specifically the changes we are seeing in customer behaviour. Our Avis Budget product proposition is one that is well positioned to leverage these opportunities and drive greater adoption of the usership economy,” says Ganda.
“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.”
Ganda says the company’s ability to leverage its scale and proprietary forecasting abilities make it the “natural partner of choice” for future mobility in the region.
Read: Barloworld to unbundle stake in Avis through separate JSE listing
“As the only end-to-end mobility provider offering tailored short-, medium- and long-term car rental and vehicle fleet leasing services in Southern Africa, Zeda has created a holistic and modular offering, able to meet customer requirements from driven services to leasing extra-heavy commercial vehicles as needed,” it adds.
It says the key to its strategy is the ability to accurately predict customer demand for its services, whilst simultaneously ensuring the correct allocation of resources through its integrated operating model.
“Our future is an exciting one. As a listed entity, we have access to new pools of capital, guided by our own allocation strategy geared toward not only shareholder growth but Africa’s economic growth,” notes Ganda.
“Our focus will be on accelerating the usership economy, improving and expanding our offering, and digitising our business process to improve customer experience. We look forward to continuing to deliver sector leading performance and making meaningful contributions to the societies in which we operate.”
Nondumiso Lehutso is a Moneyweb intern.
Listen: Barloworld CEO Dominic Sewela on annual results on Zeda’s unbundling
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