Bosch Group a leading supplier of technology and services has partnered with Equity Bank with a view of providing the Jua Kali sector access to Bosch power tools via a micro financing solution. This is due to the fact that the power tool’s quality, durability and backup service have been widely recognized by the artisans. The fundamental element of this alliance is to secure a micro-financing solution at a competitive interest rate thus ensuring ease of access to the Bosch power tools with the long term objective being the uplifting of the sector.
The partnership will also see the two institutions provide financial literacy skills as well as build the necessary capacity required for the artisans to find a competitive edge in their operations. It targets the stockist’s, retailers, industries, schools, Construction industries, Technical Institutions and Universities.
The investment into this sector found its roots as Bosch invested in providing training on the use of power tools. With increased interest in the power tool range, Bosch has provided a platform for the rental of Bosch power tools. Finding an ownership solution was the next step, in which the partnership with Equity Bank provided a tailor-made solution for the Jua Kali entrepreneur, not only in Kenya but throughout East Africa
Rohit Kumar Singh, Equity Bank’s Director of Corporate and SME Banking had this to say, “The Bank’s key focus on the SME business sector is to empower our business partners to build and grow their businesses. The process offered by Equity Bank is not only transparent, but efficient and easy to access. As Equity Bank, one of our philosophies has always been to listen, understand and deliver solutions that meet and exceed the needs of customer.”