Medical Practitioners To Get Upto Ksh10M Unsecured Loans In Absa, KMA Partnership

Absa Bank Kenya has introduced a new doctor’s customer value proposition that will benefit 10,000 medical practitioners affiliated with Kenya Medical Association (KMA).

Under this partnership, medical practitioners will receive Absa prepaid multi-currency smartcards that double as both membership identification and a prepaid card that enables doctors to access electronic payments, among other financial benefits.

KMA members will also enjoy the benefits of relationship management, credit access with business unsecured loans of up to Ksh10 million, personal unsecured loans of up to Ksh6 million, and tailor-made asset financing and mortgage facilities offering discounted interest rates. They will also be entitled to an Absa Platinum and Gold Credit card that offers convenience, safety, ease, and a contactless payment solution for their transactions.

Speaking at the launch event in Nairobi, Absa Bank’s Head of Premier Banking Simon Gachahi said the new proposition is aligned with the bank’s strategy to accelerate organic growth through sector-focused customer and product segmentation to enhance competitiveness. He also reiterated the bank’s commitment to delivering bespoke customer value propositions to different professionals like teachers, doctors, lawyers, the disciplined forces, amongst others.

“We have been speaking to our customers and professionals from different fields in a bid to understand their specific needs and this new proposition for our doctors is just one among many others that we are rolling out for our customers in various disciplines,” said Mr Gachahi.

“For instance, this collaboration will see the delivery of differentiated customer experience and innovative solutions that speaks to the doctors’ life cycle.”

On her part, the Kenya Medical Association CEO Dr Njoki Fernandes commended the collaboration saying it was a game-changer for the medical fraternity.

“This partnership offers our members peace of mind when making their financial decisions while also positively enabling them to undertake various transactions cashless. We are excited to be working with Absa in this ‘cash light’ journey,” said Dr Fernandes.

Under this partnership, medical professionals licensed by the Kenya Medical Practitioners and Dentist Council (KMPDC) and practicing in both private and public health care sectors will receive prepaid cards that will also act as a KMA membership card. These cards also possess transactional capabilities where members can load funds via Absa online banking, MPESA or a visit to any Absa branch. KMA can also load funds to any member’s cards undertaking travel or other activities on behalf of KMA.

The partnership comes at a time when the country’s financial sector is fast-tracking the adoption of digital money systems thus making digital payments critical in the post-pandemic era.

“As we continue to push for escalated financial inclusion, we have witnessed a sharp rise in the number of people switching to cashless transactions to conveniently settle payments. As their partner for growth, we must assure both existing and potential customers that what we are giving them is not just a convenience, but a secure means of making transactions,” added Mr Gachahi.

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