Johannesburg - Blue Financial Services [JSE:BFS]
is re-launching its South African operations, in a diverse and multi-faceted approach.
"With a new board structure, a refreshed brand and exciting product extensions based on our new partnerships and values, we will be re-establishing ourselves as one of the main players in the South African financial services industry," says Blue Group CEO Johan Meiring.
"These changes run deep and cut through all aspects of our operations. I am confident that we are back on track in our quest for excellence and quality leadership."
A new R500m loan obtained by AltX listed Blue Financial Services Limited will be combined with R74m of Blue's own funds and used to capitalise Blue's South African operating company (Blue SA) balance sheet.
"We need to re-establish customer and investor confidence in Blue SA's operations" says Meiring. "Our customers are our priority. We want them to know that we understand their needs and life aspirations and we want to play a key role in helping them towards a brighter future."
Blue SA also now has a new board of directors, under the leadership of Bert Griesel.
Another significant achievement for Blue SA, through its new parent company, Mayibuye Group, is its recently clinched joint venture with financial services company Integer. Integer is wholly owned by the Mayibuye Group.
"The Integer partnership increases our value offering to clients, providing them with access to innovative financial products" says Meiring.
Integer is a specialised financial services company, with its origins in residential home loan products, offering a range of exceptionally innovative and flexible personal banking facilities, backed up by personalised service. Blue SA customers with Integer accounts can withdraw cash from all banking ATMs, use the Visa debit card worldwide, and will be able to deposit cash at all ATMs.
Fifty of Blue's South African branches have already been refitted with the new Blue identity and branding, a task completed in just seven days.