Crown Paint starts loyalty points plan for struggling SMEs

Crown Paints Group CEO Rakesh Rao. FILE PHOTO | NMG

By LYNET IGADWAH
More by this Author

Summary

• The paint maker has unveiled a loyalty programme initially targeting members drawn from its affiliate savings and credit cooperative society, Team Kubwa Sacco.
• Crown chief executive Rakesh Rao said the Paka Rangi, Pata Pesa na Crown Paints campaign is aimed at helping some 15,000 painters raise capital for personal development during and post pandemic period.

Small scale businesses struggling under the tough economy can now use Crown Paints

loyalty points to settle electricity bills and buy airtime.

The paint maker has unveiled a loyalty programme initially targeting members drawn from its affiliate savings and credit cooperative society, Team Kubwa Sacco.

Crown chief executive Rakesh Rao said the Paka Rangi, Pata Pesa na Crown Paints campaign is aimed at helping some 15,000 painters raise capital for personal development during and post pandemic period.

“We have seen the need to provide them an avenue for financial support and in addition help them ease the economic burdens that have been escalated by the Covid-19 pandemic,” said Mr Rao.

For every purchase of paint worth Sh2,000, the small scale businesses earn between Sh20 and Sh30 as a trade balance into their account that can be redeemed for instant rewards including shopping vouchers, home appliances and professional tools.

The NSE-listed firm is expecting a strong rebound in sales from the first half of next year.

The bright outlook is hinged on the recovery in the pace of construction activities as well as renovations following the gradual reopening of the economy since July.

Investors who have been skeptical about the economic recovery and hoarded cash are now more confident about a post-Covid-19 outlook.

Data from the Kenya Bureau of Statistics shows cement consumption increased by 13,355 metric tonnes between July and August when movement restrictions were lifted.

Mr Rao said the easing of coronavirus restrictions has seen investors pumping in cash to complete stalled projects.