As the economy emerges from the Covid-19 disruptions, many businesses are looking at expanding their operations. And with Kenya’s economy forecast to grow at an annual rate of 4.9% in 2022 and 2023 by the World Bank, the business environment is buzzing again.
Kevin Rakama is among those feeling the uptick in the economy and he is optimistic that, with Covid-19 economic disruption behind, things can only move up. Mr Rakama, the entrepreneur behind Corido Marketplace, an online platform for selling and buying secondhand goods, expects deals to grow and more revenues from business this year.
Covid-19 had cut the rate at which businesses and individuals invest in various projects, but entrepreneurs like Rakama are dreaming big. From ICT, agriculture to general supplies, the need for transportation can never be wished away.
Entrepreneurs who rely on hiring transport vehicles now have a chance to own their own truck, thanks to Co-operative Bank of Kenya’s Asset Finance product. Co-operative Bank has partnered with Simba Corp to enable its customers to buy Canter or FUSO trucks affordably. Under the deal, customers enjoy 95% financing and a 60 days’ grace period before they can start repaying the loan.
The Co-op Bank Asset Finance offers the flexibility to finance your moveable assets without trying up any other property as security. This is because the assets being financed become the security.
The bank is also giving negotiated insurance cover for the purchased vehicle. In addition, the manager can also get Ksh500,000 working capital to boost business. The asset finance product targets individuals, businesses, co-operative societies, schools, colleges, university, religious institutions, among others.
Co-op Bank Asset Finance frees up cash and helps acquire the much-needed assets and pay in easy monthly instalments at an agreed period. And with the assets generating income for you, it practically pays for itself.
With Co-op Asset Finance, you automatically qualify for insurance premium financing under the Co-op Bank Insurance Financing services.