SAN DIEGO–(BUSINESS WIRE)–Today, Ethos Asset Management Inc., USA announced the formation of Ethos Asset SA (Pty) Ltd in Johannesburg, a recent creation and addition to the Ethos Group. The company was incorporated on October 18th,2021, by the President and CEO of Ethos Asset Management Inc., USA, Carlos Santos, in Johannesburg.
This new operation and physical presence will enable Ethos to overcome some of the challenges in receiving financial guarantees and other financial instruments into its USA banks, given certain strict South African banking regulations. The Ethos team is relying on the fact that South Africa has a very well-developed modern banking system that will allow Ethos to conduct its ongoing day-to-day financing activities in the Southern African Development Community (SADC) region, and to penetrate new markets by providing much-needed investment in local businesses, corporations, governments, and community-based organisations.
The company considers this move to be a significant development in the continued growth and expansion of the Ethos group. The move will go far to address the cross-border banking and finance laws which are tightening globally. This new local presence in South Africa is designed to support Ethos’ transactions and increase operations each day with SADC countries and the continent of Africa as a whole.
Carlos Santos, President, and CEO of Ethos, stated, “We were very excited and motivated to establish a subsidiary of Ethos in South Africa. This will provide new African clients and potential partners in the region with the opportunity to be financed by Ethos dynamically, efficiently, and personally. Recent changes to cross-border laws and the continuing crisis of Covid have significantly affected the banking system. Several banks in the United States, where Ethos conducts primary operations, closed their international trade desks to protect their potential exposure to the default of other institutions and reduce overall risk to the sector, and some bankers believe that this internal policy reduces general systemic risk.”
Johnnie Eigelaar, CEO, JN Equity (Pty) Ltd, in Cape Town, said, “This is a significant step in creating the ability to have alternative funding in South Africa, that is generated off-shore, but raised and re-paid in South Africa, without having the usual risks of exchange rate fluctuations and exchange control requirements attached to off-shore funding models. This initiative will not only assist South Africa with raising affordable funding with favourable terms for all types of projects, but also the greater SADC Region and Africa as a whole, by utilising the well-established network and footprint that SADC businesses and banks have in Africa. What is refreshing is that the focus is funding, not management or control, just funding. A great added product brought to the table by Ethos, is the Philanthropic Financing Facility, which would have a real impact for local businesses and community-based projects which are looking to make a sustainable difference.”
Thabo Motea, CFO, Ethos, said, “South Africa is the most sophisticated and developed economy in Africa and has some high-class companies in finance, real estate and business services, manufacturing, and wholesale and retail trade. South Africa is the ‘gateway to Africa’ for investors due to its comparative sophistication, ease of doing business, continental expertise and ability to act as a base for critical services (e.g. auditing) for doing business on the rest of the continent. I am especially proud to have been able to oversee the expansion of Ethos into my home country and I know that this will make investing into South African companies and organisations so much smarter and seamless.”
About Ethos Asset SA (Pty) Ltd:
Ethos Asset SA (Pty) Ltd, a joint-stock company, incorporated under the laws of South Africa, is a subsidiary of Ethos Asset Management, with a global outreach in project financing. Ethos allocates its own resources to finance government and privately promoted projects on every continent and in every sector providing capital to structure projects and restructure debt.
About Ethos Asset Management:
Ethos Asset Management (Ethos) is an independent, US-based company with a global reach in resource mobilization and project financing. Providing financing to government and privately promoted projects in every continent and every sector, Ethos has developed a unique risk modulation model which allows them to provide financing in terms not available anywhere in traditional financial markets. Additionally, Ethos provides advice to structure projects and restructure debt. Ethos supports and develops their clients to navigate changing market environments to achieve their long-term goals with confidence. For more information about Ethos Asset Management, please visit https://www.ethosasset.com/.
For more information about Ethos, please visit: https://www.ethosasset.com/
About JN Equity:
JN Equity is a private company registered in South Africa with a primary focus to invest in businesses that will create equity for stakeholders through focussing on an equity-based approach to our different investments. This approach focuses on individual needs and requirements of each specific investment, which includes agriculture, financial and commercial services, project funding and construction. Our goal is to provide each of our investments with the specific means that they would need to succeed and achieve a sustainable business.
Mr. Carlos Santos
Mr. Thabo Motea
Mr. Johnnie Eigelaar