Twiva Partners Shortlist to Give 0% Interest Loans for Laptops, Camera, Others

By Aduragbemi Omiyale

A strategic partnership designed to give influencers to purchase their content creation gadgets through zero-interest loans has been entered into between Twiva and Shortlist.

This collaborative effort between Twiva and Shortlist signifies a significant stride towards empowering the youth by bridging the gap between digital opportunities and the talent pool in Kenya.

The device financing facility for the purchase of essential devices such as cameras, laptops, and mobile phones is an initiative of Shortlist through its Challenge Fund for Youth Employment (CFYE).

The aim is to extend this facility to thousands of Kenyan youth, fostering accessibility and enabling them to embark on promising career paths.

To be eligible for this exclusive offer, a minimum downpayment of 15 per cent of the device’s total cost is required, while the remaining balance can be conveniently settled through monthly payments spread over a flexible period ranging from 3 to 12 months.

Importantly, to ensure financial feasibility, the monthly payment commitment will not surpass 25 per cent of the buyer’s gross monthly income.

This structured payment plan is designed to accommodate the buyer’s financial capacity, providing a pathway to ownership that aligns with his income levels and promotes financial sustainability over the repayment period.

Many young individuals in the content creation arena face the challenge of inconsistent income, making it difficult for them to afford coveted gadgets like the iPhone 14 or 15, or the MacBook they aspire to own.

“To address this, we’re providing them with an opportunity to contribute a minimum of 15 per cent and repay the remaining amount over a year.

“This approach makes it more manageable for them to plan their finances effectively and acquire the devices they desire,” the co-founder of Twiva, Mr Peter Kironji, said.

On her part, the Head of Marketing and PR at Twiva, Ms Grace Gikonyo, explained that the collaboration was entered into after a recent survey revealed that a substantial 73 per cent of Kenyans are grappling with severe financial distress or struggling to meet their basic needs.

“Through extensive market research conducted among our pool of 11,000 influencers, we discovered that a majority rely on Buy Now Pay Later (BNPL) services.

“Interestingly, the utilization of BNPL leads to influencers spending nearly 80 per cent more when opting for buy now, pay later services,” she stated.

Twiva is an influencer-powered social commerce platform boasting a network of over 11,000 influencers, while Shortlist is a talent advisory firm dedicated to connecting African talent with startups, social ventures, and mission-driven organizations.