Stanbic Bank Kenya Has Entered Into An Import Financing Partnership With Two Leading Motor-Vehicle Importers

With the inking of the deal, the bank continues to establish new ways of bringing to fruition dreams of customers wishing to acquire imported vehicles. Under the two separate partnerships, customers will get up to 80% financing through Stanbic Bank with 20% deposit being paid to the importers, and a payment period of up to four-year.

Speaking at the launch of the partnership, Head of High Net Worth and Affluent Clients at Stanbic Bank Kenya, Ms. Aliya Khanbhai said, “By partnering with MHH International and World Navi, Stanbic Bank hopes to make it easier for our clients to access quality vehicles from overseas markets. This will enable them to access a wider pool of vehicles to ensure that the vehicle they settle on fully meets their specifications. We want our clients to get the exact vehicle they desire and would like to offer them a painless and seamless experience during the acquisition journey.”

Stanbic Bank has been at the forefront in offering tailor-made vehicle and asset financing solutions and have assisted numerous clients to grow their businesses and acquire useful assets. The financing package will enable clients to get access to quality vehicles with friendly repayment terms from the bank.

This initiative is expected to enable customers to source for vehicles at cheaper prices than would be found at local yards due to elimination of mark-ups occasioned by middlemen.

Under the partnership with MHH International Limited, the deal is expected to make it easier for customers to source vehicles from the UK, Japan or Australia with MHH International offering end-to-end service from sourcing to delivery of the vehicle and adding peace of mind by offering an additional three-month warranty. The dealer also offers one clear price which includes all the costs associated with the purchase, from sourcing of the vehicle to delivery.

Speaking after the ceremony, MHH International Managing Director, Mr. Alistair Benn, said, “We are passionate about the customer experience and integrity is key for us. We want to provide an excellent product and ensure that our customers enjoy the acquisition process through us.”

Mr. Benn also noted that the financing package was timely as the COVID-19 pandemic has affected availability of stocks and resulted in the increase of motor vehicle prices making it harder and more expensive for clients to source for vehicles overseas.

Under the partnership with World Navi Company, the importer will source and ship the vehicles, making it easier for clients to access the cars directly from Japan. Through World Navi, the customers will also be able to buy vehicles from the Japanese used car auction where over 100,000 vehicles are put up for auction every week.

The General Manager at World Navi Company Ltd, Mr. Stanley Makombe, said, “We intend to assist our clients to choose from a wide array of assets to ensure that they get the very best their money can afford them. We promise to offer our clients assets in great condition, at affordable prices and within quick delivery times.”

Mr. Makombe was quick to add that the financing package was timely as the pandemic had affected motor vehicle production resulting in fewer stocks and higher prices.

He also noted that in a field muddied by integrity issues, World Navi company Ltd and Stanbic Bank Kenya will give clients the comfort of knowing that their vehicles would arrive to them as promised and that the purchase is backed by reliable entities.

Ms. Aliya Khanbhai further added that the partnership with MHH International and World Navi is in line with the bank’s purpose of driving Kenya’s socio-economic growth. By collaborating with key stakeholders, the bank is on a mission to help individuals and businesses achieve their goals by providing them with access to credit for vehicle importation.

Read original story on Newstrends.co.ke

https://newstrends.co.ke/stanbic-bank-kenya-has-entered-into-an-import-financing-partnership-with-two-leading-motor-vehicle-importers/