News 

Sunday, December 01, 2013 

afb in card deal with Kenya Woolworths

NAIROBI, Kenya - Woolworths has entered into a strategic partnership with afb, a consumer finance company, offering customers a chance to buy goods on credit in any Woolworths store in East Africa.The deal will see afb managing the Woolworths Private Label Card Programme, a customized retail card program that is tailored specifically for Woolworths customers.


In Kenya, Woolworths currently has seven stores in and tens of others spread across East Africa.
Speaking at the launch of the partnership in Nairobi last week, Woolworths Director Muchiri Wahome said the partnership was crucial for Woolworths in addressing the ever-changing needs of customers.
“This partnership with afb is timely and significant and will allow our customers to easily access affordable credit facilities through our stores. Experience has shown that this type of credit program can go a long way in adding value to our loyal customers,” Wahome said.
Commenting on the deal, afb’s Managing Director of Cards, Brett van Aswegen said: “afb is excited to partner with one of Africa’s most successful and respected retailers. This is the first such program in Kenya which we believe will revolutionize retail sales by increasing spend in Woolworths stores.”


The Woolworths Store Card offers Woolworth’s customers an unsecured revolving credit facility. This arrangement allows customers to conveniently purchase the latest quality merchandise and pay it off in six affordable monthly installments.
Customers can apply in-store for the card and the full application process takes less than 24 hours for customers to be instantly issued with a card in the Woolworths store.
The availability of credit enables customers to purchase what they want, when they want it. Saving for a specific purchase often leads to disappointment when the item has been sold out.
The availability of credit allows customers to purchase for a greater amount and more frequently than they normally would have been able to.
“In our pilot we have already seen significant lift in the average spend by consumers on their Woolworths Store Card,” van Aswegen said.
afb launched a general purpose retail credit card in Nairobi in April this year, that has already grown to an active customer base of over 12,000 customers and a merchant network of over 150 retail partners in Nairobi.


In August this year it announced partnerships with Manchester United and Chelsea where afb offers Kenyans the opportunity to shop with branded Retail Credit Cards.
afb has also partnered with Airtel Kenya to offer a variety of financial services.
The company will be expanding throughout Kenya in the next 18 months as well as a number of other African countries.

By Humphrey Liloba, Sunday, December 01st, 2013