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Kenya Power & Jamii Bora Launch Mobile Credit Facilities to Supply Homes With Electricity

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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”.

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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.

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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

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 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.

 

Jamii Bora CEO Mr. Samuel Kimani, Kenya Power MD Dr. Ben Chumo and Rapid Communication CEO Mr. Anwar Majid Hussein
Jamii Bora CEO Mr. Samuel Kimani, Kenya Power MD Dr. Ben Chumo and Rapid Communication CEO Mr. Anwar Majid Hussein
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Susan Mwenesi
Susan Mwenesi
Interested in business, technology and all things startups in Africa!

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