Samsung Electronics East Africa and Nakumatt Holdings, have jointly unveiled a new service allowing SACCO members to purchase electronic products on a check off system.
In the exclusive partnership dubbed Samsung/Nakumatt Sacco’s check-off access, Nakumatt will provide a dedicated service to registered SACCO’s and their respective members wishing to purchase the range of Samsung consumer electronics.
Speaking during the launch of the new service, Nakumatt Holdings Managing Director Atul Shah and his Samsung Electronics East Africa Counterpart Robert Ngeru explained that the new service is open to all registered SACCO’s across the country.
How it works
With the service, Nakumatt Holdings has undertaken to honour orders made by registered SACCOS in respect to their members. Once an order is placed and paid for by a SACCO, the members will then settle the principal amount through the normal check off terms that apply in respective SACCOS.
With this partnership, SACCO members can buy Samsung Visual Display, Mobile Communications, Digital Imaging; and other Devices from Nakumatt.
“For Nakumatt Holdings, this partnership is particularly significant as it also serves to affirm our commitment to partner with our innovative suppliers. Our commitment to developing market access products goes beyond the electronics category and we hope to see more suppliers proposing such innovative marketing platforms,” said Shah. “New generation consumers have adopted a global credit culture that affords them the convenience of spreading their initial investment costs over a defined period.”
On his part, Samsung Electronics East Africa business leader Robert Ngeru, explained that the arrangement with Nakumatt is geared at encouraging SACCO’s to partner with retailers to expand their service offering.
With the Samsung/Nakumatt Sacco’s Check off Access service, Ngeru explained that the pilot project will allow Nakumatt to extend retail synergies to SACCOS within acceptable legal and regulatory limits.
“We have in many instances been approached by SACCO’s seeking to directly but our products but our retail supply chain limits us from such kind of an engagement. On the other hand, retailers are not allowed to extend credit financing thus the need to deal with SACCO’s who are allowed to extend credit terms to their members,” Ngeru explained.
The launch of the Samsung/Nakumatt Sacco’s Check off Access service is also expected to boost revenues for SACCOS as their members embrace such services to own domestic appliances.