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Financial Services
Tuesday, October 20, 2015 - 12:31
Modern day fortress

South Africans spend millions of rands a year investing and purchasing assets such as Krugerrands, gold, diamonds, collectible coins and art, as well as jewellery. These assets are the primary source of wealth for 13.6% of local high net worth individuals (HNWI). However, great care should be taken to ensure that these valuables are kept safe and secure.

With crime in South Africa at an all-time high, these investors are facing unprecedented risks of theft. One private South African company has introduced, what it says, is a safe and secure solution for individuals and families to store their valuables and heirlooms.

Following the global trend of private companies and department stores offering their HNW clientele secure safety deposit box services, in 2005 IBV International Vaults set out to build a convenient national network of these in key locations in the major South African metropolitan cities.
IBV has invested in researching the most convenient and secure ways to assist private individuals in keeping their valuables. It has branches (vaults) in Gateway Shopping Centre, Durban and Nelson Mandela Square, Sandton, and says it has plans to open in Cape Town.
The company says it will also be looking for prime spots in London and Dubai. Its aim is to establish an international support system and network of members who may be travelling for business or pleasure on a regular basis and perhaps even own homes in multiple international metropoles.
IBV International Vaults currently has a national network of 14 000 members. Their vaults are built to international standards and specifications, complete with steel-reinforced concrete and protected by a sophisticated, multi-tiered security system. They are monitored by trained professionals and open seven days a week, most days of the year except public holidays. IBV vault facilities range in cost from a mere R250 to R875 per month.

Copyright © Insurance Times and Investments® Vol:28.10 1st October, 2015
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