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Giving business wings

Mafoko Security recently took ownership of a 1997 Bell 407 helicopter, financed through Aircraft Finance Corporation (AFC). As a growing company with a national footprint across all nine of South Africa’s provinces, Mafoko Security realised that owning an aircraft would be an asset to the business, allowing for much quicker transport of senior personnel when called for. The company turned to AFC, specialists in aircraft financing.

With expertise in aviation and asset finance, AFC specialises in the structuring and arranging of finance for high-value capital equipment and has alliances and relationships with a number of banks in South Africa.

“When we were first approached by Erasmus Nare, one of the owners of Mafoko Security, the brief was that he wanted to buy a helicopter for his business,” explains Jaco Pietersen, director at AFC. “After assessing his business and its requirements, we soon realised that he actually needed a fixed wing aircraft and helicopter, but to start off with, the acquisition of a helicopter was of greater urgency.”

He points out that a helicopter is far better suited to the client’s present requirements. “It does not require to be landed at an airport. Often Mafoko Security’s branches are not close to suitable airfields and the helicopter allows them to fly directly to their various sites.”

Nare had a preference for Bell products, and after considering numerous options, he settled on the 407, which can carry six passengers in comfort and has adequate power.

Pietersen believes that introducing new customers to the aviation space is key to AFC’s success. “New customers like Mr Nare soon realise that the availability of a helicopter is an integral part of the business,” he says. “Apart from transporting Mafoko Security’s senior management, the helicopter is also put to work doing general charter and contract work, which generates additional revenue for the client.”

To ensure that the client’s exact needs were met and a tailored financing solution was created, AFC spent two months assisting the customer whilst he procured the helicopter. From the initial discussions to the final delivery AFC will stay involved in the transaction until the day that he settles the deal or until he upgrades.

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