Construction
A patented working capital solution ‘Sponsored Advance Retention’ – developed by insurance major Santam and local specialist capital consulting firm Capital Breakthru Solutions business development director Wayne van Houten – will release working capital for construction contractors and subcontractors, says Santam bonds and guarantees head Clinton Spence. This will support the development of projects and help to improve project efficiency and delivery. The risk-based working capital solution leverages a guarantee provided by Santam, and is based on the economic merits and metrics of the construction project, as well as the reputation, capacity and proven capability of the contractors, to provide immediate working capital on a project basis.
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