Expanding Your Possibilities
Founded in March 2017 with the purposeful intent to meet an overwhelming market need of providing working capital solutions to Individuals and SMEs, MOMENTUM‘s mission has since evolved to become the leader in financing motor vehicle-related transactions across Africa. They deliver against this mission by unlocking collateral held in their client’s motor vehicles – without needing to liquidate their asset.
In an exclusive interview with Africa Automotive magazine, Kawira Irambu – Brand and Strategy Manager at MOMENTUM tells us more on how you can unlock your financial potential, keep the momentum and expand your possibilities!
AA: What are your major product solutions?
KI: Our solutions include; Motor import financing, a revolving credit facility secured by the motor vehicle asset, affordable insurance premium payment, key-to-key motor vehicle trade-in & automotive repairs financing.
AA: What industry do you serve and how long have you been serving?
KI: We are in the structured non-bank lending space – with a key focus on Motor Vehicle related financing at the moment.
AA: What is the inspiration behind the formation of Momentum?
KI: To meet an overwhelming market need for structured working capital solutions to individuals and Small Medium Enterprises (SMES).
AA: What do you believe to have been your biggest business success over the years?
KI: Our ability to respond to our clients’ evolving needs has resulted in informed product innovation supporting our business growth over the years. This client-centric approach implies we consistently make further improvements to our processes and people – in effect improving our client’s experiences.
AA: What makes you the best auto solutions provider in the market?
KI: Focus – we understand the automotive industry end-to-end. Owning a motor vehicle comes with increased financial & expertise demands – we work really hard to ensure we deliver against these two key expectations from our clients.
AA: How would you create a broader awareness about the benefits of using your products solution?
KI: It starts with having a compelling value proposition that addresses client pain points (existing and evolving). Beyond this, we ensure we deliver against promises made to our existing client base to support loyalty and word of mouth referrals.
AA: What values do you uphold in the delivery of your solution?
KI: Upfront: We ensure the information we share with our clients is timely, conclusive & accurate.
AA: How would you describe Kenya’s auto credit and financing market?
KI: Exceptionally fragmented; we have over 30 microfinance institutions in this space in Kenya.
AA: What direction do you see the company taking in the next ten years, if you had to guess?
KI: Our actions are largely informed by our client’s cues. We’ll continue to base our solutions on our client paint points(current and evolving) as well as leverage on emerging market trends such as AI.
