NAIROBI, Kenya, Feb 27 – Naivas Supermarkets has rolled out a credit purchasing program for its customers to boost the sale of household items which have been slow movers amid a contracted economy.
The retailer says the credit system, which is done through a collaboration with lending product financing firm Aspira, will enable customers to acquire household goods and pay in installments over a period of one year in either daily or monthly installments.
Chief Commercial Officer Willy Kimani said the program will allow customers to take home the goods they buy on credit immediately.
“We have structured the payments in a way that will give customers flexibility and ease of paying the daily and monthly installments while using the products at home,” said Kimani.
Aspira Managing Director Yoeal Haile said his firm will set a limit on how much an individual can buy on credit based on their M-Pesa or bank statements.
The program allows for credit between Sh10,000 and Sh500,000 per customer.
The product joins a host of other moves that companies in the country are adopting to encourage consumption even as Kenyans continue to feel the pinch of a sluggish economy.