As the race towards the general elections in Kenya heats up, Mwananchi Credit has launched a special ‘political fund‘ to offer political candidates loans to run their campaigns.
Dubbed ‘Mheshimiwa Loans’, these are specifically customised to be attractive to politicians vying for various seats.
Among the special features is a moratorium between now and August to allow them time to start repaying the loans after the hustle and bustle of campaigns.
Speaking during the launch, Mwananchi Credit CEO Dennis Mombo said, “as a financial institution, we believe in customising our solutions to prevailing market needs and dynamics, hence our niche specific loan products . We shall keep a close eye on trends to ensure that we continually adapt ourselves to invest in the growth of our our clients.”
The ‘Mheshimiwa loans’ can be taken against collateral such as campaign vehicles or even Title Deeds.
Kenya will go to elections on August 9th to elect the President, 47 Governors, 47 Senators, 47 Women Reps, 290 Members or Parliament and 1,450 Members of County Assemblies with multiple candidates in each position presenting a strong niche for the Microfinance to target.
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