Simba Corporation and Gulf African Bank have signed a financing agreement that will enable Gulf African Bank customers to access Shari’ah compliant structured financing of up to 95% for acquisition of Fuso and Mitsubishi vehicles.
The bank will give customers who buy Fuso trucks a 60 day repayment holiday to allow for completion of body building and generate more cash inflows from their businesses.
The agreement also gives a waiver of administration fees for early birds and customers will also benefit from a Kshs 300, 000 working capital line to boost their businesses.
Speaking during the signing ceremony, Simba Corp, Motor Division MD, Naresh Leekha, said, “Customers want to grow their businesses and will only entertain solutions that will enable them to do what is best. Our trucks are the best in the market, and we would like all customers to have access to purchase and a comfortable payment period.”
Simba Corporation is the sole representative for the distribution and service for Fuso and Mitsubishi brands in Kenya.