Our Africa-China import solutions fuel NRS Solutions’ growth
Standard Bank’s Africa-China Import Proposition enabled NRS Solutions to import new machinery from China, uplevel its manufacturing capabilities, reduce its input and running costs and expand its product offering.
How end-to-end support on Chinese imports is fueling NRS Solutions’ growth
Standard Bank’s Africa-China Import Proposition enabled NRS Solutions to import new machinery from China, uplevel its manufacturing capabilities, reduce its input and running costs and expand its product offering.
The Context
NRS Solutions, a Johannesburg-based manufacturer of instrumentation control cables, serves the food and beverage, mining, petrochemical, and other industries.
Since its 2013 founding, the company has steadily grown.
To further its expansion into Southern Africa, NRS Solutions sought to invest in new industrial machinery to boost production capacity and introduce new products.
The Problem
- Reliance on third-party suppliers
- NRS Solutions was dependent on third-party suppliers which led to higher costs and delays in sourcing essential materials.
- Equipment breakdowns and growth constraints
- Aging machinery caused frequent breakdowns, resulting in stalled production, missed deadlines and higher maintenance costs. Existing equipment also restricted the development of new product lines, stifling growth.
- Concerns regarding sourcing new equipment
- Acquiring new industrial machinery locally was difficult, and international options raised concerns about quality and reliability.
“In my experience, I’ve seen other manufacturers who’ve imported based on drawings or pictures of machinery, and when the machinery has arrived, it’s inaccurate or not fit for purpose, and therefore, it’s a costly mistake on their part.”
“What Standard Bank has offered NRS, is peace of mind in terms of knowing that we have the bank’s backing behind the suppliers we are working with.”
– Vincent Bezuidenhout: Managing Director, NRS Solutions
The Solution
Standard Bank’s Africa-China Trade Solutions desk, provided an end-to-end solution to streamline NRS Solutions’ machinery purchase from China.
- Vetted Chinese suppliers
- Leveraging Standard Bank’s Chinese Import Agent partner, Guomao’s network of over 5,000 vetted Chinese manufacturers, NRS Solutions efficiently sourced and contracted with the right supplier.
- Payment negotiations
- Guomao’s strong relationships allowed NRS Solutions to negotiate favorable payment terms, requiring only a 30% deposit upfront.
- Quality assurance
- Guomao ensured compliance with South African standards and conducted preshipment inspections.
- Trade finance
- Standard Bank provided trade finance to fund equipment purchasing and free up the business’s working capital.
- Logistical support
- From customs clearance to delivery, Standard Bank’s logistical support streamlined the entire import process.
- Importation of raw materials
- Beyond machinery, NRS Solutions has also benefited from the Africa-China Trade Desk by sourcing raw materials from China, further enhancing its operations.
“Standard Bank and the Africa-China Trade Desk gave us a seamless solution for what we wanted to import. From the time of quotation and sourcing suppliers in China all the way through to placing the order, getting the finance through Standard Bank and delivery to our factory was a seamless end-to-end process with no issues at all.”
– Vincent Bezuidenhout: Managing Director, NRS Solutions
The Outcome
The partnership between NRS Solutions and Standard Bank’s Africa-China Trade Solutions desk has yielded several positive outcomes:
- Expanded market reach
- The new equipment has enabled NRS Solutions to launch new products and serve new markets in line with its domestic and international growth strategy.
- Cost reduction and improved operational efficiencies
- By replacing outdated machinery, NRS Solutions has streamlined production processes, increased uptime, and reduced costs associated with frequent breakdowns and delays.
- Supply chain independence
- Direct imports from China have minimised reliance on local suppliers, resulting in cost savings, reduced delays, and greater control over the supply chain.
“If I were to recommend Standard Bank and the importing of equipment to any other customer, I would definitely do so because they offer an end-to-end service which is seamless – as well as the backing that they provide you, knowing that Standard Bank has your back, covers you and makes sure that the supplies that you’re dealing with are legitimate and that they give you the peace of mind to be able to know that what you’re ordering is what you’re going to get ultimately and is what you need for your business.”
– Vincent Bezuidenhout: Managing Director, NRS Solutions
For more information
Reach out to your Relationship Manager, or email us at [email protected]