14 April 2014

Kenya: Naivas Gets Credit Card for Its Shoppers

Nairobi — Consumer finance company, afb, has created a credit card for shoppers at Naivas Supermarkets who can purchase goods on credit at any Naivas stores in Nairobi and throughout Kenya over time.

Speaking during the announcement of the partnership, afb's Managing Director - Cards, Brett Aswegen said the Naivas Retail Credit Card which is an unsecured, revolving credit card facility that allows customers to buy goods in Naivas stores on credit and repay with six (6) affordable monthly payments.

Aswegen said the Naivas Retail Credit Card offers customers an unsecured revolving credit facility of up to Sh15, 000.

"The initial credit facility offered to customers will range from Sh12, 000 to Sh15, 000 and this will increase over time depending on the customer's responsible use of credit and repayment period," added Aswegen.

Customers can apply in-store for the card and the full application process takes less than 24 hours for a card to be issued.

Commenting on the deal, Naivas Supermarket Managing Director, David Kimani, said the partnership was crucial for both afb and Naivas in addressing the ever changing needs of customers which in the long run will revolutionise the retail market.

"The partnership deal with afb is timely and significant and it now means that Naivas customers can buy goods on credit without the need to post any form of collateral and repay with six affordable monthly repayments. Items that customers potentially could not afford immediately are now affordable given afb's financing support," said Kimani.

The repayments will be made through a variety of channels, including payments at Naivas outlets and through mobile money platforms, MPESA and Airtel Money.

afb launched a general purpose retail credit card in Nairobi last year that has already grown to an active customer base of over 18,000 card users and a merchant network of over 250 merchants in Nairobi.

Last year in August, it announced partnerships with Manchester United and Chelsea football clubs where afb offers Kenyans the opportunity to shop with branded retail credit cards.

afb will be expanding throughout Kenya in the next 18 months as well as a number of other African countries.


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