(Last Updated On: June 3, 2014)
If you want something worth between sh50,000 and sh500,000 and you can’t pay the amount at once, Nakumatt has got your back. Nakumatt Holdings has introduced hire purchase credit services so as to boost sales of its expensive goods which may seem too unaffordable. The service is a joint initiative with Bank of Africa.
Goods worth between sh50,000 and sh500,000 will be sold on credit at a monthly interest rate of 1.5 percent or 18 percent a year. To qualify, you have to provide proof of regular income, both salaried and self employed workers. The payment period will be between 2 to 12 months.
So far only 6 outlets offer this service, they are Mega, Lifestyle, Prestige, Junction, Galleria and TRM. Other outlets will get this service in future.
Other big players in this hire purchase industry are Kenya Credit Traders, Kukopesha and African Retail Traders.