Quest Capital Solutions has secured R75 million from private credit asset manager Creation Capital to expand lending to small and medium enterprises (SMEs) in South Africa’s transport sector.
Founded in 2012 and registered with the National Credit Regulator, the Bellville-based finance company provides rent-to-own finance for trucks and trailers, alongside asset management, maintenance, and insurance. Nearly half (48%) of its client base consists of black-owned enterprises.
Closing the SME funding gap
The deal underscores the role of private credit in addressing South Africa’s R350 billion SME finance gap, as traditional banks remain cautious about funding small businesses.
“SMEs account for 91% of formalised businesses in South Africa, yet remain underfunded. This is where private credit players can step in,” said Freddy Magoro, CIO of Creation Capital.
The investment comes as inefficiencies in South Africa’s transport system cost the economy an estimated R1 billion a day. Quest’s clients operate largely in last-mile and short-distance logistics, a segment vital to improving supply chain capacity. Quest’s rent-to-own model gives small transport operators access to vehicles and services they need to scale. The funding is expected to support job creation, market expansion, and wider financial inclusion.
“This partnership with Creation Capital will allow us to serve more SMEs and expand into new markets,” said Charl Lehmann, CEO of Quest Capital.