Consumer finance company in Kenya, afb, has entered into a strategic partnership agreement with Naivas Supermarket that will offer its customers the opportunity to purchase goods on credit at any Naivas stores in Nairobi and throughout Kenya over time.
Brett van Aswegen afb’s Managing Director – Cards, said that the company is excited to partner with one of the leading retailers in Kenya, Naivas Ltd, towards offering affordable credit card facilities to the mass market in the country.
“afb and Naivas will introduce 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,” said van Aswegen.
The Naivas Retail Credit Card offers customers an unsecured revolving credit facility of up to Ksh.15, 000 ($175). Customers can apply in-store for the card and the full application process takes less than 24 hours for customers to be issued with a card.
“The initial credit facility offered to customers will range from Ksh12, 000 to Ksh15, 000 and this will increase over time depending on the customer’s responsible use of credit and repayment period,” added van Aswegen.
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 revolutionize retail by providing unsecured forms of credit.
The Naivas Retail Credit Card is accepted in the XPRES network, which currently has 250 participating afb stores. 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.