The company's Managing Director
Chumo said the Stima Loan programme follows a successful pilot project which begun in 2010 which has seen more than 50,000 Kenyans benefit as at
"Stima Loan is one of the initiatives spearheaded by the company in collaboration with the government, AFD and EU to ease the cost of power connections and help accelerate access to electricity by more Kenyans in line with the country's development vision," Chumo said.
Managed as a revolving fund, he said, Stima Loan customers will pay a 20 percent upfront deposit and repay their loan within a period of 24 months with a five percent administration fee charged on the loaned amount.
"The period of disbursing subsequent Stima Loan tranche will depend on the rate of loan uptake," he stated.
The company has also partnered with local banking institutions including
Most Popular Stories
- Bently Creates Alabama Small Business Commission
- California King Fire Roars Out of Control
- Is Alibaba's IPO Price a Fairytale?
- Mercedes Rolls Out S550 Plug-in Hybrid
- Kardashian: Kanye Never Told Fan in Wheelchair to Stand Up
- SBA Kicks off Hispanic Heritage Month
- CalPERS Pulls Out of Hedge Funds
- U.S. Tobacco Growers Lose Last of Price Supports
- Poverty Rate Drops for First Time Since 2006
- Two-thirds of Hispanics Doubt Media Accuracy