Breaking new ground: expanding asset finance into Africa and the Middle East

Asset Finance Connect is excited to announce the release of the third episode in its European Equipment Finance podcast series. Hosted by Richard O’Donohue and sponsored by Alfa, the latest episode features a compelling and insightful conversation with Bengayi Kumbula, founder and CEO of InnoVent, a pioneering technology leasing company based in South Africa.

In this wide-ranging and candid interview, Kumbula shares his 20-year journey building InnoVent, starting with an early pitch to Cisco that was initially rejected but ultimately led to a fruitful partnership two decades later. His story is a powerful example of persistence, vision, and innovation in emerging markets.

Key themes in the episode

Understanding Africa and the Middle East: While many European asset finance professionals are well-versed in the “E” of EMEA, this episode shines a light on the less familiar “ME” — the Middle East — and “A” — Africa. Kumbula unpacks what makes these regions unique, yet surprisingly similar to Europe in key areas of asset finance.

Reinventing the operating lease model: Kumbula reflects on how InnoVent was born out of a desire to bring transparency and value back to operating leases, which at the time had lost customer trust. Through careful planning, customer-first design, and strict adherence to accounting standards, InnoVent has created a sustainable, full-lifecycle model for IT leasing.

Remarketing and refurbishment excellence: Listeners get an inside look at Qrent, InnoVent’s sister company focused on end-of-lease asset remarketing. With world-class refurbishment capabilities and a commitment to second-life solutions, Qrent has become a sustainability leader — even launching a UK operation under the “Second Life” brand.

Expanding into the Middle East: InnoVent’s recent expansion into the UAE highlights the growth potential in the region. Kumbula outlines the strict regulatory environment, cultural nuances, and high appetite for innovation, especially around operating leases. Backed by partnerships with major OEMs like HP, Lenovo, and Cisco, InnoVent is now providing white-label financing services across the GCC.

A one-stop partner for Africa and the Middle East: Kumbula positions InnoVent as a turnkey partner for global companies looking to enter or scale in these emerging markets. “If you talk to us, we will cover GCC for you. We will cover Africa for you,” he states confidently.

Why you should listen
This episode is a must for anyone in the European asset finance sector curious about market expansion, emerging opportunities, or how innovative models are reshaping leasing and finance across geographies. Kumbula’s practical insights and candid reflections make it both informative and inspiring.

Listen now on Asset Finance Connect’s podcast channels and stay tuned for future episodes tackling the most important trends and territories shaping asset finance in 2025 and beyond.