SBV Services have expanded their cash centre services by opening new centres in the towns of Burgersfort and Louis Trichardt in the Limpopo province. The launch of the two centres is part of the organisation's growth strategy, which entails introducing new and upgrading existing cash centres in high cash demand areas.
The investment in each centre's development was approximately R20 million. Furthermore, only local contractors were used to effect the construction which has contributed greatly to the economic activity within both areas.
The new cash centres have been introduced in response to the ever-growing demand for cash management services in the areas, pointing to growing economic activity in the regions in recent times. The regions were identified as a high cash demand areas, on the back of a boom in the retail, mining and farming sectors.
Need to improve supply
These areas previously relied on the Polokwane SBV cash centre to collect and deliver cash to and from retail and bank branch premises. The increase in demand for cash services in the two areas led to a need to improve supply chain efficiency, hence the establishment of the two new fully-fledged cash centres.
The Louis Trichardt and Burgersfort centres will provide the following services:
- Wholesale and retail cash processing and management
- Wholesale cash operations
- Preparation of payroll and float orders for retailers
- Retail and wholesale cash-in-transit
- Wholesale cash processing
- ATM services, including packing, replenishment, custodianship and frequency forecasting
With the anticipated growth in both centres employees will be recruited from the local areas and they will be fully trained in the necessary skills by the SBV training division. The number of staff in each centre, cash processing and CIT are at close to 60 with the more skilled senior resources brought in from other centres, will train the local staff employed.