Kenya’s electricity and generation and supply company Kenya Power has signed a tripartite agreement with Rapid Communications Limited and Jamii Bora Bank that will see use of technological solution to connect potential customers to the national grid.
Rapid Communications Limited, a mobile telecommunications solution provider, will provide a mobile application platform to aid in loan application and processing.
The agreement which was signed today at Villa Rosa Kempinski, obligates them to process loan applications from Kenyans seeking to obtain power connection from KPLCunder a loan facility dubbed “Stima Bora Loan”.
Upon approval of loan applications, JBBL will issue confirmation letters to KPLC for the connection process to commence.
Speaking at the signing ceremony, JBBL Chief Executive Officer, Samuel Kimani, said the agreement was intended to make it easy forKenyans to obtain electricity on convenient and affordable terms.
Mr Anwar Hussein, CEO of Rapid Communication Limited alsoreiterated the need to have 70% of Kenya connected to the national grid by 2015 and applauded the effort by Jamii Bora and Kenya Power to make this possible.
“Rapid Communication is honoured to be part of this agreement that will see power connection go up to 70% by 2015. Rapid has made the connection easier and convinient by enabling Kenyans apply for power and loan facility through their mobile phones wherever they are”. Said Mr. Anwar
The Chief Executive Officers of the bank and Kenya Power, Messrs Samuel Kimani and Dr Ben Chumo, respectively, signed the contract which was witnessed by Mr. Anwar Majid Hussein the CEO of Rapid Communication Limited.
Under the Stima Bora Loan facility, the customer shall apply for the loan facility through the mobile, the bank shall then accept deposits from customers only once KPLC has confirmed way leave acquisition. Thereafter, the bank will disburse the loan proceeds to the customers and make payment on behalf of applicant direct to KPLC for necessary power connection.