Browsing: asset financing

Bank of Baroda to 90% financing of Deluxe Motors' trucks and buses.

New and returning clients will be eligible for fee reductions associated with lending facilities in the current economic climate.

This one-of-a-kind finance collaboration will continue operations in Kenya for the next twelve months. The Small and Micro Enterprise sector, which is the country’s primary source of employment, stands to gain the most from it. It is part of an effort to lighten their overall financial burden.

Customers can obtain up to 90 per cent financing on the reduction of their balances over a maximum term of 60 months, thanks to the cooperation. In addition, consumers will be given a loan repayment grace period of up to ninety days following the date on which their vehicles are delivered, with any and all loan application fees being waived.…

M-KOPA CEO Jesse Moore with staff in M-Kopa’s Kisumu office.
  • M-KOPA enables underbanked customers in select African markets to access a broad range of products and services without collateral or a guarantor.
  • M-KOPA has raised $190 million over the past decade
  • M-KOPA is known majorly for its pay-as-you-go (PAYG) financing model that allows customers to build ownership of appliances over time by paying an initial deposit followed by flexible micro-payments
  • M-KOPA is looking to expand its flexible daily and weekly payments model by scaling financial services products such as health insurance, cash loans and BNPL merchant partnerships

M-KOPA began commercial sales in Kenya in October 2012 following 2 years of piloting and development.

The young startup expanded to Uganda a year later and commenced operations in Tanzania in late 2014. 

The company, led by co-founder and CEO Jesse Moore started with solar-power home systems targeted at lower-income and rural customers without electricity in Kenya, Tanzania and Uganda.

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