Simba Corporation, an integrated business group with controlling interests in diversified fields such as motor sales and service, hospitality, investment and financial services 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 even as the two entities partner to grow their market share as well as sales volumes. Under the partnership, customers will also enjoy flexible repayment periods of up to 60 months for commercial vehicles and 72 months for saloon vehicles. They will also receive free vehicle tracking from Africa Fleet Management Services, and free comprehensive insurance cover during the first year of ownership. Pioneering under this partnership is that Simba is offering 20% off parts purchased under the bundled package. The bundled package will have a turn-around-time of 48 hrs and interest of 9.91% which is very competitive in the current market. This will be the first of its kind partnership being offered by any Motor Dealer and Bank.
Speaking during the unveiling of the partnership, Simba Corporation Executive Director, Dinesh Kotecha says the partnership is designed to offer the best value for the customer and allow them to effectively take up the products.
“This partnership spells out favorable terms and conditions for customers to access finance while at the same time fulfilling our desire to satisfy customers by meeting their needs for their own convenience. 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.
NIC Bank Executive Director Alan Dodd, said that the Bank is delighted to enter into a working relationship with Simba Corporation by providing this value enhancing initiative that will improve not only the level of service but also provide real value to our mutual clients
“Our partnership with Simba Corporation is not new, we work closely and are excited with this new offering to suit our customers. 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. We are looking forward to signing even more attractive deals with Simba Corporation,” 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.