Kenyan FIs Combine to Offer Improved Financing
(26 May 2020 – Africa) Two leading financial institutions (FIs) in Kenya, the Co-operative (Co-op) Bank and Simba Corporations, have partnered in order to offer commercial vehicles at affordable rates and access to more working capital financing.
The deal aims to cushion businesses within this region as they battle through the impact of COVID-19 on productivity and trade. Clients will primarily have access to asset finance facilities which will enable businesses to maintain their day-to-day business operations. The partnership will predominantly be formed to assist SMEs and Large Corporates who largely depend on the transportation of goods throughout Kenya.
“A growing number of banks and financial institutions are coming together to assist corporates in the best way possible during these perilous times. It’s important for banks and financial institutions to offer corporates with appropriate funding at the best possible rates” says Pierre Sokoya, East’s Market Analyst.
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