CC image courtesy of Sudapedia
StarTimes Media and Equity Bank, in Kenya, have signed a Memorandum of Understanding (MoU) that will see the bank’s customers access soft loans to help them buy approved digital television set-top boxes.
The deal is for a six month installment plan, with loans up to KSh 5,000 (US$58), enabling them acquire either a StarTimes Free to Air set-top box or the pay-TV option currently retailing at KSh3,499 (US$40).
Both offers are inclusive of a one month Unique Plus bouquet offer that retails at KSh2,499 (US$29) giving them access to more than 70 Premium television channels.
Speaking during the signing ceremony Leo Lee, StarTimes Media chief executive officer (CEO), said the move will ease the pressure of acquiring the devices in one go especially for the low income earners.
“Our multi-sectoral partnership will go a long way in enabling thousands of Kenyans who will be affected by the switch off to migrate to the digital television platform,” said Lee.
“Despite the subsidy provided on our decoders, we continue to look into ways in which more Kenyans will have access to StarTimes digital television service.”
The partnership is aimed at enabling Kenyan households to acquire set-top boxes ahead of the analogue signal switch-off, with the first phase in Nairobi on December 13 and the rest of the country expected to have migrated by June 30, 2014.
Julius Kipng’etich, Equity Bank chief operating officer (COO), said: “We are delighted with this partnership, as the country gears to migrate from analogue to digital television platform… we seek to facilitate the acquisition of set top boxes.
“Interested customers will go through normal credit vetting where we anticipate to take a maximum of three days before the customer acquires his/her device of choice.”
Customers will be required to pick a proforma invoice from any StarTimes retailer and visit any Equity Bank branch for credit review.
The bank will then liaise with StarTimes whereby, upon successful review, the customer will be issued with a collection form which will enable them to pick up the set-top box at their preferred retailer.