Nuevva is negotiating a second contract with the Overseas Lease Group, a Fort Lauderdale, Florida company providing asset finance in emerging markets. The two companies expect to conclude negotiations within one week.
Since January 2012, Nuevva has been working to support OLG in its push to generate leasing opportunities in Africa. Together, Nuevva and OLG have developed a bespoke leasing kit that can be offered through local partners in African countries.
The new contract will aim for a longer-term arrangement, placing OLG in a position to secure a solid book of Africa business by the first quarter of 2013. Nuevva expects to generate the first leasing contracts later this year in west Africa, particularly Mali and Burkina Faso where mining operations are underpinning rapid growth.
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