In a groundbreaking move designed to cater to the unique challenges faced by Agribusiness MSMEs in Africa, eMaisha Pay has unveiled its “Buy Now. Pay Later” service. This service, aiming to streamline the acquisition of vital production equipment, is set to become a game changer in the way agribusinesses approach their operational expansion.
Addressing Capital Constraints in Agribusiness
One of the primary hindrances faced by Agribusiness MSMEs in their growth trajectory is the lack of immediate capital to invest in pivotal production equipment. eMaisha Pay, recognizing this gap, has stepped in with its “Buy Now. Pay Later” model. This service empowers businesses to procure the equipment they need right away, while offering them a flexible repayment structure.
The “Buy Now. Pay Later” Model Explained
The model is simple yet effective:
- Browse and Select: Agribusinesses can browse through a curated list of equipment listed by partnered equipment providers on the eMaisha Pay mobile application.
- 30% Upfront Payment: Once they identify the equipment they require, they pay 30% of its cost upfront.
- Flexible Repayment for the Balance: eMaisha Pay finances the remaining 70% of the equipment cost. The agribusiness then repays this amount in weekly installments over a span of six months.
- Grace Period: Understanding the challenges businesses might face, eMaisha Pay offers a one-month grace period before the weekly repayments commence.
Transforming the Agribusiness Landscape
The benefits of this innovative model are multifaceted:
- Immediate Equipment Access: No longer do businesses have to delay their growth due to financial constraints. They can instantly procure the equipment they need.
- Financial Flexibility: The installment structure is tailored to ensure businesses can manage their cash flow effectively, without feeling burdened.
- Collaborative Ecosystem: By partnering with equipment providers, eMaisha Pay ensures that businesses have access to a range of high-quality equipment options.
With the “Buy Now. Pay Later” initiative, eMaisha Pay reiterates its commitment to bolstering the agribusiness sector in Africa. This approach not only aids individual businesses but also promises to elevate the entire sector, driving productivity, growth, and sustainability.