NIC Bank and Simba Corp in joint marketing campaign pact

Mr John Gachora, NIC Bank CEO
Mr John Gachora, NIC Bank CEO. FILE PHOTO | NMG 

NIC Bank and Simba Corporation have struck a six month deal to promote their products enabling businesses and individuals to buy Mitsubishi Fuso trucks on preferential loan terms.

The deal will see customers enjoy up to 95 per cent financing facilitated by NIC Bank repayable over a period of up to five years, coupled with an initial 60-day payment holiday where new clients will pay a 2.5 per cent appraisal fee and current clients a 1.5 per cent fee.

Simba Corp Chief Commercial Officer for the Established Brands Segment Ameet Shroff said joint promotional tours will be conducted in 30 counties where trucks including the newly introduced Fuso FI will be showcased with customers receiving financial advice from NIC.

“Customers want to grow their businesses, produce more and will readily entertain solutions that suit their needs.

“We would like all customers to have access to our products, purchase them and have a comfortable payment period. This will grow our customer base even as the customers grow their businesses,” said Mr Shroff.

NIC Bank’s Executive Director Alan Dodd said the decision to partner with Simba Corp was informed by the need to support businesses, especially after the 2017 prolonged electioneering period that hurt the economy.

“Many challenges impacted our businesses last year with the slowdown spilling over into the beginning of this year via asset financing. NIC Bank will support this businesses to reach their full potential,” Mr Dodd said.

and they are banking on the booming construction sector to drive up sales for heavy commercial vehicles where they control 26.8 per cent of the market.