Cisco Re-Affirms Commitment to Support South African Businesses as Global President of Cisco Capital Visits

Cisco Capital Global President Meets Finance Leaders to Explore Investment Opportunities to Accelerate National Broadband Roll-Out

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JOHANNESBURG, South Africa, 11th July 2013: Cisco today re-affirmed its commitment to conduct business in South Africa for the long haul as well as support the government's goal to expand South Africa's broadband network to reach universal penetration by 2020. As part of this on-going initiative, Global President for the company's financial services organisation Cisco Capital, Kristine Snow visited South Africa today to meet with finance leaders and strategic business partners to explore investment opportunities which will help accelerate the country's national broadband roll-out and overall business growth in South Africa. Cisco Capital specialises in financing networking and communications technology and services for Cisco customers and channel partners in more than 145 countries worldwide and is part of Cisco's total solution, bringing a deeper understanding of Cisco's products, services and customer business requirements than banks and outside financial institutions.

Cisco established a presence in South Africa in 1995 and has since seen its operations in the region grow considerably, today representing a product and services business that is a major contributor in Cisco's Emerging Theatre within Europe, Middle East, Africa and Russia (EMEAR). Cisco Capital serves customers in South Africa through its Captive financing organisation, providing end user financing, including leases and loans for Cisco products and services, The organisation recently unveiled the range of financing solutions available to Cisco customers in South Africa offering tailored financing options for specific technologies, markets and geographies. With customised solutions for financing technology investments, organisations in South Africa will be able spread the costs of acquiring new technology and services over time, maximise cash flow and conserve valuable capital budgets.

During her visit to South Africa, Ms. Snow will outline the phenomenal opportunities that are expected to be created for businesses and individuals as we enter into the era of the Internet of Everything (IoE). Cisco defines IoE as bringing together people, process, data, and things to make networked connections more relevant and valuable than ever before–turning information into actions that create new capabilities, richer experiences, and unprecedented economic opportunity for businesses, individuals, and countries. Its leasing penetration and portfolio are intentionally growing in scale and size, as Cisco leverages the customer, partner and shareholder value that Cisco Capital delivers. It employs prudent lending practices, while being conservative in accounting and revenue recognition of these activities.

Executive Quotes:

Ms. Kristine Snow, President of Cisco Capital
The technology advances that are taking place in South Africa today are very impressive but growth brings increased competition putting our customers and partners under considerable pressure to stay ahead of the game by keeping abreast with technology investments. The decisions they are making are based not only on what to buy but also how to buy. Cisco Capital financing solutions will help our customers in South Africa to optimise available budgets, thereby allowing them to stay focused on converting customer needs and growing their business. Purchasing decision makers today want partners who can guide them through change and help shape their organisations for the future. Cisco Capital is fulfilling this role by providing a platform for businesses to extend and grow their business potential.

Alpheus Mangale, Managing Director, Cisco, South Africa
The meetings that Ms. Snow is hosting with some of the leading business leaders in the South Africa will yield some useful discussions that will help further define our agenda for accelerating businesses and broadband roll-out in South Africa. Cisco is at a very exciting, pivotal place being at the forefront of Internet of Everything (IoE), an era where the Internet has the potential to dramatically improve the lives of everyone on our planet. The business value that organisations in South Africa will gain through the IoE is presenting a new level of opportunity for technology growth and innovation. Over the next ten years, a major opportunity will be for companies to evolve their organizations to thrive in the new environment. I am delighted that Cisco Capital is committed to align with the national agenda for broadband acceleration by supporting businesses in South Africa through this growth and business transformation. I look forward to announcing some key new developments from Cisco here in South Africa that will help shape this change in the very near future.


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