• About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud
Sunday, January 17, 2021
  • Login
  • Register
No Result
View All Result
NEWSLETTER
Kenyan Wallstreet
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Personal Finance
    • Technology
    • Startups
  • Podcast
  • Videos
  • Events
  • Blockchain & Digital Currencies
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Personal Finance
    • Technology
    • Startups
  • Podcast
  • Videos
  • Events
  • Blockchain & Digital Currencies
No Result
View All Result
Kenyan Wallstreet
No Result
View All Result

Coop Bank & Simba Corp Partner for Asset Financing

Eunniah MbabazibyEunniah Mbabazi
May 26, 2020
in Kenyan News
Reading Time: 2 min

Cooperative Bank has partnered with Simba Corp for asset financing, enabling customers to purchase commercial vehicles at affordable rates and also access working capital.

The partnership thus allows customers to acquire Fuso trucks from Simba Corporation. where Co-op bank will fund up to 95% of the value of the truck. Additionally, the bank will also top it up with a KSh500,000 working capital.

The deal will also see customers a two-month repayment holiday on the loan which is repayable over a period of up to 5 years.

In the long run, the deal seeks to enable businesses to remain afloat, cushioning them from the negative economic impacts of the global COVID-19 pandemic.

In February this year, Family Bank also partnered with Simba Corp, a deal that saw customers receive up to 100% financing when purchasing vehicles. The vehicles included Fuso trucks, Mitsubishi, and Mahindra products. Business owners in the agribusiness sector and the education and religious institutions were able to access 100% financing with a five-year repayment period. In contrast, other business enterprises obtained 95% financing, repayable in a period of up to 60 months.

Other customers, including PSVs, accessed up to 80% financing repayable in a period of up to 48 months.

In 2018, the then NIC Bank also partnered with the corporation, enabling SMEs and individual customers to benefit from up to 95% financing from NIC Bank. Under the partnership, customers enjoyed flexible repayment periods of up to 60 months for commercial vehicles, and 72 months for saloon vehicles. They also received free vehicle tracking, and free comprehensive insurance cover during the first year of ownership. 

Simba Corporation is an integrated business group headquartered in Nairobi, Kenya, with controlling interests in such diversified fields as motor sales and service, hospitality, investment and financial services.

See Also:

I&M Bank & DT Dobie Ink Asset Financing Deal for Premium Clients

NIC Bank Partners with Isuzu to Offer Asset Finance for SMEs



Previous Post

Bolt Raises $109 Million Funding

Next Post

Daily Mobile Money Transactions Grow by 9.4%

Related Posts

Blow as KQ Workers Face New 30% Pay Cuts

Blow as KQ Workers Face New 30% Pay Cuts

January 16, 2021
Sasini Plc Emerges from Losses to Post Net Profit of KSh 12.6 Million

Sasini Plc Emerges from Losses to Post Net Profit of KSh 12.6 Million

January 16, 2021

NSE turnover rises 67% to KSh 773.02 Million

January 16, 2021

Weekly Tea Auction Records an Increase in Prices

January 16, 2021

CBK Aims to Increase Remittances into Kenya with First-ever Diaspora Remittances Survey

January 15, 2021

IMF Nears Financial Support Agreement with Kenya

January 16, 2021

Kenya’s Current Account Deficit Narrows to 4.7%

January 15, 2021

Gituku Kirika Joins IPSL as New Chief Executive.

January 15, 2021
Load More
Next Post
Daily Mobile Money Transactions Grow by 9.4%

Daily Mobile Money Transactions Grow by 9.4%

Follow Us

  • 7.1k Fans
  • 112.3k Followers
  • 2.2k Subscribers
  • 453 Followers

WhatsApp

Subscribe

Telegram  

Subscribe

Podcasts

Upcoming Events

There are no upcoming events.

View Calendar
Add
  • Add to Timely Calendar
  • Add to Google
  • Add to Outlook
  • Add to Apple Calendar
  • Add to other calendar
  • Export to XML

Featured

Amari Book Club Recommendations

Absolute Must-Reads for Banking and Finance Professionals

January 16, 2021
Leila Fourie, JSE Group CEO

‘’Markets Recovery Don’t Imply Economic Recovery,’’ Leila Fourie, CEO Johannesburg Stock Exchange

December 31, 2020
Angaza Awards

Call For Nominations – Angaza Awards: Women to Watch in Banking & Finance

December 8, 2020
Multichoice’s Technological Innovations for 2020

Multichoice’s Technological Innovations for 2020

November 12, 2020
Zoomoo Partners with MultiChoice to expand to Africa

MultiChoice and Zoomoo Partner to Expand Children Content in Africa

November 12, 2020

About Company

We are a leading integrated digital content platform providing in-depth business and financial news across Sub-Saharan Africa & the globe. Kenyanwallstreet.com is a property of Hisa Technologies Ltd, a financial media & software company.

Contact Us

Kenyan Wall Street
Email: [email protected]
Website: www.kenyanwallstreet.com

Disclaimer

The information contained in this website is for general information purposes only.
Read more..

  • About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud

Copyright 2020. Kenyan Wallstreet· All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Aviation
    • Banking
    • Energy
    • Global Markets
    • Healthcare
    • Infrastructure
    • Insurance
    • Investment
    • Manufacturing
    • Markets
    • Public Policy
    • Real Estate
    • Startups
    • Technology
  • Podcast
  • Videos
  • Events

Copyright 2020. Kenyan Wallstreet· All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?