MOMENTUM To Offer Structured Non-bank Lending To Embu Residents
Friday, 8TH JULY, 2022 According to the World Bank, financial inclusion is a fundamental cornerstone to development – driving the realisation of Kenya’s Vision 2030 and attainment of Sustainable Development Goals (SDGs). With only 40% of Kenyans accessing bank credit – business expansion, employment and consumption power are compromised.
It is against this background that Momentum Credit – a non-deposit-taking financial institution, opened its 13th branch in Embu County on Friday 8th July to continue providing working capital solutions to Individuals and SMEs otherwise considered too risky by mainstream banking.
Speaking during the launch, Momentum Credit’s Chief Executive Officer – Mr. Job Muriuki declared Momentum’s intention to support Embu residents realize social and economic development by unlocking access to structured, credible and transparent financial solutions that support business growth and improve living standards.
“Agriculture contributes to 33% of the Gross Domestic Product (GDP) and another 27% indirectly through linkages with other sectors. With this sector employing more than 70% of Kenya’s rural population, It is incumbent upon us to support Embu – a largely agricultural county improve its resident’s liquidity. This in turn drives inclusive economic growth, job creation and poverty reduction.
We have additionally purposely redefined our market approach transitioning from a financial lender to a solution provider enabling Kenyans; access liquidity, own motor vehicles at a significantly lower costs compared to prevailing market rates, afford Insurance Premium financing by reducing the financial burden otherwise experienced with lumpsum payments and offer Import Duty financing – a short term facility designed to settle port charges promptly & seamlessly therefore avoiding storage and demurrage charges.”
The brand continues to differentiate itself through transparent lending terms and innovative product offerings that are fast and easy to access.
The 2022 expansion drive is geared towards improving proximity to clients – driving convenience and supporting economic recovery post the COVID-19 pandemic.
About Momentum Credit
Momentum Credit Limited (MCL) was founded in March 2017 with the purposeful intent to meet an overwhelming market need of providing structured working capital solutions to individuals and Small Medium Enterprises (SMES). Momentum Credit Limited has the ambition to revolutionize structured non-banking finance across Africa.
For more information, contact:
Brand and Strategy Manager