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NIC, Simba renew deal for financing car buyers

Simba Corp group chief executive Dinesh Kotecha. FILE PHOTO | NMG
Simba Corp group chief executive Dinesh Kotecha. FILE PHOTO | NMG 

NIC Bank #ticker:NIC has renewed its 2016 asset financing deal with auto firm Simba Corporation, which enables customers acquire new Mitsubishi vehicles.

The auto-maker’s customers will, under the agreement, get up to 95 per cent financing from NIC Bank when purchasing Mitsubishi vehicles.

The deal will also see customers enjoy an extended 60-day repayment holiday.

NIC Bank executive director Alan Dodd on Thursday said the offer was “a strong value proposition” to customers who are keen on expanding their businesses and buying new assets but face strained cash flow.

“Through this partnership we will further cement our position as the leading bank in asset finance in the country, a well-known heritage, as well as enable us to reach out to new markets, especially in the areas of Malindi, Watamu, Kilifi and Diani, where we recently opened branches,” he said.

Simba Corp group chief executive Dinesh Kotecha said the partnership is in line with the company’s strategic agenda aimed at growing its footprint and increasing its customer base.