NEDBANK Namibia and Novel Motors have entered into a business partnership, reflecting a shared strategic alignment and combining financial solutions with automotive innovation to better serve Namibian consumers.
The partnership sees Nedbank as being identified as a ‘trusted business partner’ to Novel Motors.
This comes as Nedbank served as the co-host for an event where Novel introduced the new product portfolio of Novel Motors (Jetour, Omoda Jaecoo and Foton), last week Thursday.
The event highlighted the importance of financial prudence in today’s economic environment, with Nedbank reaffirming its commitment to placing smarter financial decisions at the heart of everything it does.
By combining financial expertise with trusted partnerships, the bank continues to support customers in making responsible and forward-thinking mobility investments.
Novel managing director JP Pretorius says the event marks a significant evolution for Novel Motors as it integrates emerging Chinese brands like Jetour, Omoda, Jaecoo and Foton into its existing portfolio.
The managing director has provided a detailed comparison between the Namibian and South African vehicle markets, highlighting Namibia’s specific demand for rugged 4×4 utility vehicles and reliable after-sales support.
Pretorius says shifting consumer preferences and economic pressures are driving a transition towards hybrid technology and feature-rich cars that offer superior value.
By embracing these innovative manufacturers alongside traditional staples like Ford and Nissan, the company aims to meet the technological and durability requirements of local drivers.
He underscores a strategic commitment to infrastructure, training and service excellence to maintain a competitive edge in a rapidly changing automotive landscape.
“Namibia has a market of around 1 130 units per month with a split of around 49% passenger and 44% light commercial vehicles. Ford holds around 12% and our Chinese brands hold around a 4% share. Namibia’s new vehicle market is characterised by steady demand, strong preferences for 4×4 and utility vehicles, and influences that reflect our geography and lifestyle. Namibian roads are 85% gravel and our vast landscapes make ruggedness, reliability and after-sales support top priorities for buyers,” Pretorius says.
Nedbank head of lending Chané Isaaks says the bank’s purpose has always been to use its financial expertise to do good and this partnership with Noval Motor Company brings that purpose to life in a tangible way.
“At Nedbank, by combining our financial expertise with Noval’s impressive portfolio of premium and premium vehicle brands, we are giving our clients an impromptu product,” she says.
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