Hi, what are you looking for?
Twitter suspends accounts of journalists covering Musk
Poa Internet eyes African expansion after getting a grant
Safaricom cuts M-Pesa Paybill charges by more than 50pc
Power Learn Project graduates its pioneer cohort of 1000 learners
Wowzi! You Want To Be An Influencer?
Digital Transformation Awards to be held in November
Meta to launch ‘metaverse academy’ in France
PE firm Ascent Capital buys majority in Valley Hospital in Nakuru
Mastercard, OPay announce strategic partnership to grow cashless ecosystem
Does the 12pc minimum wage have a discernible effect on employment?
Token prices up 16.8pc in December, piling pressure on households
Teachers push for a 60pc pay rise
Govt urged to focus on enhancing productivity, commercialization in agriculture
Win for firms as Court of Appeal stops minimum tax implementation
President Ruto launches over 5,000 housing units in Machakos
Wowzi! You Want To Be An Influencer?
Going Full-Time: Julia Gaitho’s Move from Employment to Full-Time Content Creator
Digital Marketing and The Transformative Power of The Internet
IFC Managing Director Makhtar Diop sits down with Sauti Sol
Seasoned Content Creators Jacky Vike And Jaymo Ule Msee Offer Great Advice To Newbies
Wowzi! You Want To Be An Influencer?
Going Full-Time: Julia Gaitho’s Move from Employment to Full-Time Content Creator
Digital Marketing and The Transformative Power of The Internet
Capital FM’s Digital Director David Muba and EABL’s Head of Media Futures Waithera Kabiru Discuss their Digital Careers
The Importance of the Role of Marketing in an Organisation as told by Graham Villiers-Tuthill
Capital FM commemorates anniversary of Chris Kirubi’s death
Finding Opportunity in the midst of the pandemic: AskKirubi
COVID-19: Lessons Learned and Future Direction for Entrepreneurs
Kirubi set to acquire half of Centum Plc following nod by CMA
Kirubi warns investors against fake cryptocurrency platform using his name
By
Published
The asset financing facility will not be impacted by General Motors East Africa change over to Isuzu East Africa/FILE
NAIROBI, Kenya, Mar 14 – General Motors EA has entered into an asset finance partnership with Cooperative Bank that will see the bank’s MSME clients in the motor industry get 95 percent financing on Isuzu vehicles.
General Motors EA Managing Director Rita Kavashe says the partnership aims to assist their shared customers establish and sustain their businesses.
The 5-year financing deal allows Cooperative Bank customers to source only 5 percent of the cost of the asset with the bank paying the balance to be repaid within 5 years.
“Starting and sustaining a business in Keny is difficult. A recent study recently revealed that about 2.2 million SMEs have closed their businesses in the last five years because of difficulties. We, therefore, want to make life easy for our customers,” Kavashe said.
“73% of these SMEs were made up of motor vehicles and motorcycles repair businesses. To help reduce this, we have taken it upon ourselves to innovate ways that will make it easier for SMEs to access our products when they need it. This goes to show our commitment to the countryand a promise that Tuko Pamoja Safarini in their journey to success,” she added.
Apart from the 14 percent interest rate, another extra charge will be the 1 percent which will be used to process the loan.
Additionally, customers will get Sh300,000 working capital which they will be expected pay in a year.
“We admit that there is much more that is involved in running a business apart from owning the vehicle. Our customers will, therefore concentrate more on doing other things involved in running their businesses,” Cooperative Bank Retail Business Manager Maurice Motuma said.
The bank says it expects to tap into its 1 million MSME client base.
The partnership will not be affected by the Isuzu take over expected next month.
NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight…
NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any…
NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead…
It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be…
NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March…
NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety…
NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of…
NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the…
© 2022 Capital Digital Media. Capital Group Limited. All Rights Reserved