AFRICA: The Sheltam group has been rebranded as Traxtion Group, following a 30% investment from Harith General Partners’ Pan African Infrastructure Development Fund 2.
Traxtion Group aims to partner with locomotive and wagon manufacturers, track construction companies, consulting engineers and project developers in the African rail market. Chairman Brian Myerson said the business could also expand into the mining and industrial sectors.
The newly launched Traxtion Leasing business will focus on product innovation and flexible financing, with maintenance support from Traxtion Sheltam.
‘Leasing companies need to be so much more than financiers, and at Traxtion Leasing we have the experience and understanding to bring product innovation to complement flexible funding solutions’, said Traxtion Leasing CEO Willem Goosen. ‘With the support of the outstanding maintenance expertise in Traxtion Sheltam it is a really exciting value proposition.’
The Traxtion Projects business aims to combine Harith’s financing experience with the operational and freight market expertise of Traxtion Sheltam, to support operating concessions, upgrading projects and new infrastructure.
‘In addition to what this offering brings Africa, as a black-owned infrastructure fund we believe that Traxtion Leasing and Traxtion Projects are perfectly placed to support the South African government with its public-private partnership drive’, said Emile du Toit, Head of Pan African Infrastructure Development Fund 2.