Stanbic Bank & RentCo unveil a laptop leasing scheme for university students in Kenya


Stanbic Bank has partnered with RentCo Leasing and Cool4School to launch a laptop leasing scheme targeted at students in tertiary learning institutions in Kenya.

Safaricom and KCB tried to to run such a scheme eight years ago but failed we hope RentCo in partnership with Stanbic Bank will live to see youth pay for laptops in installments under a flexible Lease to Learn solution provided by these two.

Statistics show that 95 percent of university students have no personal laptops and 70 per cent lack PC access at home. Most of these students cannot afford to purchase a laptop upfront due to low income, cost of studies or available liquidity; a problem that is set to be solved through the partnership.

According to RentCo CEO Mr.Robert Nyasimi: “Plans are underway to roll out this Lease to Learn solution to other institutions of higher learning. The students who qualify for this program will be able to lease to own the gadgets with ease as the lease payments are spread over a period of 3 years.” On a bigger picture the RentCo Lease to Learn solution can be the ideal solution for the governent to realise its vision for free laptop to every student in public schools if it would consider  leasing as the mode of acquiring the laptops instead of the current planned outright purchase.”

Besides Africa Nazarene University, RentCo is piloting the programme at Daystar University, St. Paul’s University and Riara University. Cool4School CEO Mr Sankei Ole Kenga said the firm will be stimulating digital ecosystem that includes internship opportunities, digital coaches for the students and start-up Incubators empowering the very creative and well- trained Kenyan youth to launch start-ups within the university. The universities will also have access to digital services for the universities to HR professionals (e.g. data-base management).

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The laptops come loaded with the latest Windows and Office suite software at no additional cost.