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BD Special Adverstising Section Date: 16.08.2013 Page 1 Article size: 316 cm2 ColumnCM: 70.22 AVE: 0.0 SMEs bank dreams on Real people By EVANS ONGWAE >» [email protected] Across East Africa are 30,000 happy people whose lives have been transformed courtesy of their fruitful financial partnerships with microfinance institution Real People. The firm's target customers are the small, medium and micro enterprises who find it difficult to access conventional bank finance. Real People provides a solution for such enterprises by making available loans in the amounts needed through a simplified, standardized loan appli cation procedure with less stringent collateral requirements. Mr. Daniel Ohonde, Real People's CEO, explains that they partner with people on their journeys through life. He and his team recognize the unique challenges and opportunities people face in their lives. They therefore share expertise to create brighter futures, through the responsible provision of financial services and products. He explains that, overall, the Real People Group has a vision to bring accessible, affordable financial prod ucts that are intended to sustainably improve lives in subSaharan Africa. As a specialized financial services provider, it provides credit products to the low to middle income market. In East Africa, it has operations in Kenya, Uganda and Tanzania. Real People banks on its people and harnesses its intellectual capital to deliver unique products and services. The strength of Real People's East Af rica business model rests in its ability to leverage off local knowledge and expertise in each country in which it operates in combination with the provision of technical, financial and logistical support to each of its opera tions provided by the Group. The microfinance firm started with payroll lending in 2006 and after three years moved to offer Mi cro Enterprise Finance, backed with sound market knowledge and vast opportunities. It has grown exponentially and currently has over 30,000 custom ers spread across Kenya, Uganda and Tanzania who are served through a strategically located branch network of 20 branches in the East Africa region. Yvonne Godo who heads the Busi ness Finance unit in East Africa, says the firm provides finance to business es in East Africa where homegrown businesses make up a large propor tion of the economy. Real People, she explains, is one of the few financial services players that provide finance directly to individual entrepreneurs. "Understanding the complex dynam ics of this key target market has en abled us to play an active role in build ing these businesses the lifeblood of many African economies," she says. "We offer Asset Finance to finance the acquisition of business assets; Real People brings together a consor tium comprising Real People as the main financier, merchants and other service providers to facilitate the ac quisition of assets," she adds. Additionally, the firm offers a General Purpose Facility product that gives clients a fixed line of credit that will enable them to draw down only the amounts of funds needed and avoid overburdening them with ad ditional costs of finance. This enables them to earn better returns on their investments. With these products Real People aims to offer convenient fast applica tion cycle, flexible access to cash and/ or business assets, reasonable pricing and conditions to its customers and well as offer loans appropriate to each business type. Mr. Phillip Kibet who heads the firm's Housing Finance unit reiterates that flexibility and quick turnaround times for loan applications (including a maximum of one week) are clear competitive advantages. He says: "Our strategy is to be a financial partner for our customers as they aim to improve their lives by providing home construction finance. We collaborate with Building material retailers (Hardware shops), providing finance instore at the point of sale with the assistance of knowledgeable sales consultants who understand the needs of our customers. Aided Ipsos Synovate Kenya Acorn House,97 James Gichuru Road Lavington Nairobi Kenya BD Special Adverstising Section Date: 16.08.2013 Page 1 Article size: 316 cm2 ColumnCM: 70.22 AVE: 0.0 by our quick and easy application market accessible in Kenya and East region. Further, Real People is also explor process, the finance we provide will Africa at large by offering attractive ing how it can collaborate with other help thousands of customers live their products and channel expansion. dreams." It seeks to partner with other Real People Kenya is well posi institutions in the East Africa region tioned to ramp up the business over in order to offer more products to its the coming three to five year period customers and potential customers. by capturing a significant portion of This will also help it take advantage the large Enterprise and home finance of the existing opportunities in the players in the financial sector such as Savings and Credit Cooperatives (SACCOs), Insurance companies and Telecommunication companies, among others, in order to offer more products and increase its customer base. Ipsos Synovate Kenya Acorn House,97 James Gichuru Road Lavington Nairobi Kenya