Hashi Energy, Kenya’s leading indigenous oil marketing company in the East and Central African region in partnership with Equity Bank has launched a new credit facility that allows consumers to purchase Hashi cylinders, gas and necessary accessories.
The new Hashi/Equity gas credit facility was unveiled by Hashi Energy’s commercial and strategy director Mr. Solomon Osundwa in the presence of Equity Bank’s Group COO, Julius Kipngetich during the launch event at Equity Center.
Mr. Osundwa commented, “Over the years Hashi Energy has remained true to its core business of importation, distribution and marketing of refined petroleum products. As a company, Hashi Energy is a vibrant and dynamic organization that aims to make a difference in relationships with clients, in the communities, in service delivery and in professionalism.”
“I am therefore happy to announce that in conjunction with Equity Bank we have introduced a credit facility to enable customers to access Hashi Gas products,” he added.
He further noted that Hashi identified Equity Bank as the most viable partner, since the financial institution has a wide regional footprint with branches and Agency banking services across the country. Hashi’s customers are therefore in a position to easily access their credit facilities to purchase the products.
Speaking at the event, Equity Bank Chief Operating Officer Dr. Julius Kipngetich said; “Equity Bank is committed to championing convenience in accessing financial products and services. By partnering with Hashi Energy’s we hope to reach more customers with a solution that will give them clean energy while also giving them the opportunity to pay over a period of time through the credit facility.
Access to the credit facility will be in 3 simple steps; acquiring a pro-forma from Hashi Service Stations, leading supermarkets and authorized distributors, presenting it to any Equity Bank branch for credit review and finally upon approval of the facility a collection note is issued for the LPG products. The initiative will first be rolled out in Nairobi and the Mt. Kenya region and will be rolled out to the rest of the country later this year.
The credit facility offers consumers with four options; purchase of a 6kg cylinder with gas; 6kg complete set inclusive of cylinder, gas, burner and grill; 13kg cylinder with gas and 13kg complete set comprising cylinder, gas, hose-pipe and regulator.
“Previous studies on energy usage have shown that 80% of Kenyans use kerosene, 60% charcoal and 55% firewood. The analysis shows that many people perceive the usage of LPG to be expensive. Take an example of someone using a debe of charcoal that on average retails at Ksh. 50 which eventually translates to a monthly expense of ksh. 1500 whereas, a 6kg cylinder which usually lasts 2 months is currently retailing at Ksh.1200. Based on this and in line with Hashi Energy’s strategy of becoming a market leader, customer focus and environmental conservation, we are determined to transform these customers from their current source of energy to LPG.” Mr. Osundwa reiterated
Hashi Energy and Equity Bank have teamed up to assist in the initial purchase of the gas cylinder which to many is an expensive investment denying most consumers the convenience and savings attributed to LPG usage.
“At Equity Bank we aim to transform the lives and livelihoods of our people socially and economically by availing them modern, inclusive financial services that maximize their opportunities which in turn improve their livelihoods. By venturing into such partnerships with Hashi Energy, we are making this a reality.” said Dr Kipngetich.
About Hashi Energy
Hashi Energy is a private company and one of the oldest indigenous oil marketing companies in Kenya with over 20 years in operation. It invests primarily in petroleum imports and exports, bulk trading, petroleum depots, distribution and service stations. With the aid of cutting-edge technologies and modern infrastructure, we aim to consolidate our position as the market leader in the Petroleum sector in the region. The company has grown to become a major player in the Oil business supplying over 480 million liters’ of petroleum products annually to the East African region. With a capacity to supply 600 million litres per year, Hashi Energy is a stable brand with operations in Kenya - Mombasa, Nairobi, Eldoret and Kisumu; Uganda, Tanzania, Rwanda, South Sudan, Zambia and DRC. www.hashienergy.com
About Equity Bank
Equity Bank commenced business in Kenya on registration in 1984. It has evolved from a small Building Society, a Microfinance Institution; to currently the all-inclusive financial services provider which is listed on the Nairobi Securities Exchange and Uganda Securities Exchange.
Equity Bank Group is one of the region's leading banks whose purpose is to transform the lives and livelihoods of the people of Africa socially and economically by availing them modern, inclusive financial services that maximize their opportunities. While the Equity brand is associated with empowerment of un-banked & the poorly banked segment of population, the Bank has evolved to become an all-inclusive bank for all. With nearly 8 million accounts, Equity Bank is the largest bank in the region in terms of customer base. The Bank has operations in Kenya, Uganda, South Sudan, Rwanda, and Tanzania. www.equitybankgroup.com
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