US firm joins KCB to sell its products

Customers at a KCB banking hall. General Electric announced a partnership with Kenya Commercial Bank and USAid to support private health facilities to acquire medical equipment. In the deal, KCB will finance the purchase while USAid will offer a partial guarantee to the equipment acquired from GE. PHOTO/FILE 

In Summary

• General Electric yesterday announced a partnership with Kenya Commercial Bank and USAid to support private health facilities to acquire medical equipment.
• In the deal, KCB will finance the purchase while USAid will offer a partial guarantee to the equipment acquired from GE.

By Nation Correspondent
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An American multinational is seeking a big stake in Kenya business parenting with a local bank and Unites States Government funded organisation to market its equipment to local hospital.

General Electric yesterday announced a partnership with Kenya Commercial Bank and USAid to support private health facilities to acquire medical equipment. In the deal, KCB will finance the purchase while USAid will offer a partial guarantee to the equipment acquired from GE.

“The initiative is in two phases with a further Sh860 funding for phase two; it aims to expand to the entire East African region in a bid to improve access to affordable healthcare,” KCB chief executive, Mr Joshua Oigara, said. The loan will be repaid over a nine-year period.

KCB customers will have access to loans while enjoying a grace period of 12 months before payment under 72 months repayment tenure on a low interest rate reducing at 15 per cent.