News Column

Second Edition of Classic 105-CFC Stanbic Homes Expo On Next Week

August 28, 2014



CfC Stanbic, Kenya's sixth-largest bank by market share, will offer homes and car buyers special interest rates during the second edition of the Classic 105/CfC Stanbic Homes and Auto Expo.

The lender will announce the special offers next week ahead of the three-day exhibition starting Friday at the KICC. The special rates will run for three months from the expo date for customers who will close deals over the weekend. These will be in addition to discounts lined up by individual exhibitors.

About 70 exhibitors will showcase, including homebuilders, real estate agents, interior decor and landscapers, auto dealers and auxiliary sectors such as security and hospitality. Visitors will not be charged entry fees.

"These are two very strong brands that have come up together to provide Kenyans with a platform where they can shop for property and vehicles," said Austin Waga, head of mortgages at CfC Stanbic.

"A huge percentage of the market we are looking at either want a home or a car and that is why the expo is for homes and vehicles under one roof. It is a one-stop-shop for all market segments to meet; from low to high and extreme high-end."

CfC will be the sole financier at the expo. The lender offers mortgage with tenures of up to 20 years and up to five years for vehicle and asset loans. It finances up to 100 per cent for home loans and up to 90 per cent for vehicles and assets.

"We are very strong on mortgage and vehicle financing - we are currently number one in the market, and Classic 105's audience provides the best platform for both brands," Waga said.

"The portion we finance is pegged on how much you can afford. We look at your income - whether salary, business or rental income - and assess to ensure you have a regular source that can support the loan."

Last year's expo, also held in August, recorded a foot-flow of more than 4,000 visitors, which saw CfC net deals worth over Sh2 billion cumulatively in homes and car loans, directly related to the expo. It also got new customers opening a range of bank accounts.

About 80 exhibitors showcased in last year's expo, but a readjustment has been made to create spacious tents and yards for exhibitors, effectively reducing the number of participants to 70 this time.

"It was a big thing for us and it was a huge boost for both brands. This has really helped us to emerge as one of the best banks in East Africa," Waga said.

Classic 105 and CfC Stanbic expect to exceed last year's achievements with more visitors anticipated to tour the expo. Visitors will be exposed to a range of solutions from which to choose, making it a "cost-saving" to have variety in one place.

"We're more focused on the value we give the customers. Our concept is, by the time you are thinking of owning a car, you must also be thinking of owning a home, and vice versa. So, we are trying as much as possible to avail all the vendors for what visitors may be looking for," said Marian Ochieng, head of vehicle and asset finance at CfC Stanbic.

Auto exhibitors will include Jiji Motors and Cheki.co.ke, online shopping platforms for vehicles, which will give shoppers alternative experiences. Home dealers will include OakPark Developers, Superior Homes and Muthaiga Heights.


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Source: AllAfrica


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