Financial Services

The Financial Services business segment develops and distributes innovative vehicle-related financial products and services through importers and distributors, dealers, finance houses, insurers, call centres and digital channels. The segment also provides fleet management services to corporate customers including fleet maintenance, fines management, licensing, and registration services.

Kerry Cassel

CEO – Financial Services & Head: Innovation and Technology


South Africa

Vehicles including third-party products under administration

>760 000


Drive the Group innovation strategy and encourage employee collaboration through the Motus mx community
2021 priorities
  • Expand financial products and services offerings and drive further integration into dealer networks.
  • Continuously align with digital, automation trends and changing customer needs.
  • Continue to focus on fintech developments and leverage relationships with financial institutions and joint ventures.
  • Group innovation centre:
    • Develop innovative products and services;
    • Drive Group-wide innovation; and
    • Foster a culture of innovation.

Financial Services

Product and services

We have evolved our offering over many years to enhance the vehicle ownership experience of our customers, identifying and addressing the underserved needs of motorists. This enables Motus to develop meaningful relationships with our customers as our integrated value chain provides us with multiple touchpoints with our customers.

Data forms the foundation of customer insights, which drive the development of continuously evolving products and services presented to customers at the appropriate time in their vehicle ownership journey. Compelling value propositions ensure that customers return to Motus for all their motoring needs, driving value for the Motus value chain.

Ultimately, we strive to deliver a stress-free motoring experience to our customers, while at the same time ensuring that every vehicle sold by Motus generates revenue streams for the Group over its useful life.

Financial Services value chain

This segment complements and leverages the integrated automotive value chain, providing high-margin annuity earnings.

  • Access to bank credit at preferential rates to enable vehicle sales.
  • Access to the dealership network provides significant point of sale opportunities.
  • Access to market intelligence through the Group's vehicle businesses and its data.
  • Ability to feed market intelligence back into the vehicle businesses, enabling the division to reach clients with the right product at the right time.
  • Cash-generative revenue lines create strong annuity income streams that act as a significant hedge to the industry's cyclical nature.
  • Proven track record of innovative product and channel development and deployment.

Our business complements and leverages the automotive value chain by providing annuity earnings and strong cash flows.

Growth opportunities

Innovation and unlocking customer potential in existing and new customer channels represent an opportunity for the business to grow. Our investment in technology to leverage consumer data allows us to offer personalised services that enhance customer experience and improve customer retention.

Our business complements and leverages the automotive value chain by providing annuity earnings and strong cash flows. Our ability to analyse proprietary data supports the accurate pricing of our offerings, vehicle profiling for the fleet business and management of claims. Through our leading service, maintenance and warranty plans, we unlock revenue for the other businesses by retaining the customer within the Group throughout their vehicle ownership lifecycle.

2021 performance

During the last year, many businesses faced increasing challenges amid the impact of the COVID-19 crisis. During this period, we saw the value in our core strategy. Our annuity income streams proved an effective hedge against the cyclical nature of vehicle sales impacted by the pandemic. However, these income streams are continuously under threat, not only from changes in the regulatory environment but also from the wave of start-up disruptors, innovative competitors, and the fast pace of technological change, which continues to challenge the notion of sustainability.

Our business also faces significant changes in the legislative and compliance landscape. We fully support these changes in the regulatory environment and believe that they will improve transparency and trust with our customers, and we are working to ensure that we implement the necessary process and document changes to comply with the regulations as they come into effect.

Our core business is to build our financial services offering as an extension of Motus' vehicle businesses. Our vision to be a leading player in the mobility products and services industry will be achieved through continuous product and market innovation, increasing penetration in existing markets and diversifying into new markets.

We are establishing a new business development capability that will focus on developing and deepening our partnerships with strategic partners to create new products, new channels to market and new capabilities and to develop these within the broader insurance industry, finance houses and dealer network.

We continue to grow our channels to market through joint ventures with strategic partners and develop tailored financial services and products that benefit from access to their customer bases, leveraging our specialised expertise, data and product design ability.

We continue to grow our market share of VAPS within the importer independent dealer network, exploring opportunities to extend the duration of prepaid service and maintenance plans on Importer vehicles.

The Group supports the Right-to-Repair guidelines and its commitment to expand the inclusion of small and medium enterprises owned by historically disadvantaged individuals in the automotive aftermarket value chain. We welcome the potential benefits to the consumer and the economic growth that effective competition will generate in the automotive sector. In addition, we trained our people to ensure that we are compliant with POPIA regulations and AARTO. AARTO will be implemented in phases, with full implementation postponed to 1 July 2022.

Through our substantial data management warehouses, we are unlocking opportunities to monetise data, using predictive technology to allow us to identify when customers are potentially ready to purchase a new vehicle. We will continue to develop how we use the vehicle electronic service book to identify additional data-related opportunities to develop new VAPS offerings for customers.

We aim to operate in an environmentally conscious and responsible manner and focus our efforts on reducing our carbon footprint. We have installed tap aerators at our Johannesburg campus, are investigating the installation of a rainwater harvesting system and have approved solar installation in 2022. We will continue to raise employee awareness around water, fuel and electricity conservation.

Read more about the Group's ESG priorities.

Integration and optimisation

The desirability of our brands, the delivery of innovative VAPS and mobility services, and our ability to consistently exceed customer expectations are key factors in defending market share, deepening customer loyalty, and growing our sales and customer base.

Our scale and integrated value chain enable us to provide cost-effective and competitive financial products and services to customers in a challenging economic environment. This will be supported by driving vehicle sales underpinned by pricing discounts and product enhancements to qualifying customers. In addition, we will continue to implement innovative digitisation initiatives to improve efficiencies and save costs. Enhanced data quality across the Group will supplement business process automation to streamline processes and ongoing software system upgrades.

We are introducing new innovative technology to our partners and customers that creates efficiencies in the claims experience. We are piloting a hand-held augmented reality-based mobile application to improve the overall claims process and experience.

In addition, we are re-platforming certain areas of the business in order to reduce complexity and provide a single view of the customer, reducing reliance on external developers to maintain these legacy systems.

With our increased focus on developing new channels to market, we will continue to leverage opportunities to grow annuity revenue streams outside of our traditional channels.

Our people

Our people deliver Motus' commitment to be a forward thinking, proactive and customer focused organisation. The employee value proposition to our people is underpinned by purpose and driven by values, thereby fostering a culture of innovation and improvement that allows them to provide excellent customer service and achieve ongoing efficiencies. We ensure that we have a safe working environment for our people during the COVID-19 crisis, as their safety and wellbeing continues to be our top priority.

Read more about the Group's people strategy.

2021 financial performance


R2 019 million

Operating profit

R904 million

Operating margin#

44,8 %
   HY1 2021 
change on 
HY1 2020 
  HY2 2021 
pro forma*
change on 
HY2 2020 
pro forma*
change on 
Revenue (Rm) 1 054    (6)   965    (8)   2 019    2 173    (7)  
Operating profit (Rm) 467    (3)   437    (2)   904    931    (3)  
Operating margin (%)#  44,3         45,3         44,8    42,8        
^ HY1 numbers are unaudited and are extracted from the interim published results for the six months ended 31 December 2020.
* HY2 numbers are unaudited and derived from deducting the HY1 results from the annual published results for the year ended 30 June 2021.
# Operating margin includes profit streams without associated revenue.

Revenue decreased by 7% mainly as a result of reduced fleet rental due to early termination and reduced replacement of units with external car rental companies, coupled with lower terminations as a result of the shift from mileage to time usage on the service and maintenance plans.

Operating profit decreased by 3% mainly due to increased life cover claim settlements in the M-Sure business, reduced car rental income earned on rental of vehicles, lower bank joint venture alliance profits and reduced cell captive income, offset by cost containment measures implemented.

The outlook for the vehicle asset finance joint ventures with financial institutions remains negative due to elevated levels of credit impairments, but we are anticipating certain provision reversals and a return to profit sharing in the short term.