Unilever has unveiled a credit scheme geared towards expanding investments of more than 30,000 small and medium-sized businesses.
The Unilever East Africa’s programme dubbed “Jaza Duka” is an innovative solution that will embark on enabling retailers to purchase goods on credit at free interest rates for up to 17 days.
But after 17 days, the goods attract an interest rate of 3.5 per cent each month and the retailer is expected to complete payment for diem in seven days.
The venture spearheaded by Unilever in conjunction with KCB Bank Kenya and Mastercard has already seen almost 18,000 stores sign up for it and anticipates to roll out to 30,000 stores by the end of the year. Unilever Sales director for East Africa, Luck Ocheing lauded the partnership, terming it a milestone in Kenya’s financial inclusivity journey aiming to empower more retailers to grow their businesses.