NIC Bank and Simba Corporation Enter into an Asset Financing Partnership

NIC Bank and Simba Corporation Enter into an Asset Financing Partnership

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Simba Corporation AFMS Managing Director, Ike Allibhai, Executive Director, Dinesh Kotecha and NIC Bank Executive Director Alan J. Dodd confer during the signing of an Asset Financing agreement between the two organizations. The partnership will see NIC Bank customers get 95 per cent financing from NIC Bank and flexible repayment periods for consumers intending to purchase the Mitsubishi line of trucks. PHOTO:COURTESY.

Nairobi, KENYA: Simba Corporation has entered into a partnership with NIC Bank that will pave the way for asset financing for consumers intending to purchase the Mitsubishi line of trucks.

The landmark partnership is expected to see a number of SME’s and individual customers benefit from up to 95% financing from NIC Bank.

Under the partnership, customers are also expected to enjoy flexible repayment periods of up to 60 months for commercial vehicles and 72 months for saloon vehicles.

Speaking during the unveiling of the partnership on Thursday, Simba Corporation Executive Director, Dinesh Kotecha said the partnership is designed to offer the best value for customers, allowing them to effectively take up the products.

“We have embarked on a long term strategy to enter into strategic partnerships with like-minded partners to enable our respective customers to get value for their money,” said Kotecha.

Customers are also expected to receive free vehicle tracking from Africa Fleet Management Services, and free comprehensive insurance cover during the first year of ownership.

Speaking at the same event NIC Bank Executive Director Alan Dodd, said that the Bank was delighted to enter into a working relationship with Simba Corporation to provide such an initiative.

“As part of growing our business we are constantly seeking strategic partnerships such as this one with Simba Corporation to ensure we offer our customers the best products and service offering.” He said.

This partnership is the latest in a series of collaborations that Simba Corporation has ventured into, in a bid to bolster its position in the market.

Currently, the corporation is in partnership with Vivo Energy Kenya that will enable Vivo Energy customers to access tailor made vehicle leasing solutions from Simba Corporation.

The corporation also partnered with Jubilee Insurance for a one year free insurance package to consumers intending to purchase the all new SUV L200.

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