AAR Credit Services Limited (now FinCredit Limited) is our partner in a 250 million KES commercial paper program. AAR Services Limited was established in 2000 as a subsidiary of the AAR Group of Companies and is a credit only microfinance institution. The company offers products such as, AAR Insurance Premium Finance, Asset Financing and SME/Employee check-off loans amongst others.
ASL Credit Limited is our partner in 1.5 billion KES commercial paper program and a 500 million KES medium-term note program. Founded in 2007, ASL Credit is part of the RAMCO Group of Companies. The company offers hire-purchase financing mainly for vehicle and industrial machinery. Further, the company was ranked 23 rd in the top 100 mid-sized companies by KPMG In 2014.
Car & General is our partner in an 800 million KES commercial paper program and a 200 million KES medium-term note program. Car & General was established in 1936 and listed its shares on the Nairobi Securities Exchange (NSE) in 1950. The company is a leading supplier of generators, motorbikes, automotive and engineering products in East Africa.
Davis & Shirtliff has been our partner in a 200 million KES commercial paper program. Davis & Shirtliff was founded in 1946 and is now the leading supplier of water-related equipment in the East African region. The company focuses on water pumps, boreholes, swimming pools, water treatment, generators and solar equipment. The company is ISO 9001:2008 certified
Fina Bank, now Guaranty Trust (GT) Bank, had a business and SME clientele. This target market was the “missing middle”, that is, business owners who had outgrown the microfinance organizations yet were considered too small by larger banks. Dry Associates issued a KES 500 million 7-year bond to provide Supplementary Tier II Capital to support expansion. The bank has 27 branches in Kenya, Rwanda and Uganda.