Credit firm spreads wings, eyes lower Eastern market
By Herald Aloo, June 3, 2022
Momentum Credit has expanded its regional presence with another branch in Machakos town targetting the lower Eastern market, joining financial institutions racing to maximise the lending surge in the wake of economic recovery.
Microfinance, known for its logbook loan and motor vehicle financing, says the Machakos region is critical because of its fast-growing economy, particularly in terms of roads and technological infrastructures which are key to the recovery of small and medium-based Enterprises (SMEs).
Momentum Credit CEO Job Muriuki said that Machakos has been established as a sustainable, conducive and vibrant business destination ranking among the top five counties with the highest contribution to the country’s gross domestic product (GDP).
“It pleases us to collaborate in this position by enabling emerging businesses and entrepreneurs to realise their aspirations and expand their possibilities through improved access to finances,” he said during the launch.
Machakos, Muriuki noted, plays a significant role in linking the capital with the coast, allowing transportation and affiliated services to thrive.
“Momentum is therefore looking to ease access to insurance and importation financing as it continues to invest millions of shillings by opening several branches countrywide,” he added.