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Crown Paints partners with KCB to offer discounted paints

KCB Mortgages Division, through its offshoot S&L Developers Club, has today partnered with Crown Paints in an arrangement that will see developers in the region enjoy discounts of 20 per cent on decorative and industrial paints. Through the one-year agreement, S&L Developers Club members will now access a wide spectrum of paints and allied products at costs below the market price.

“This partnership with Crown Paints is another milestone in ensuring decent and affordable housing is accessible to an increasingly larger number of Kenya’s population,” said Joram Kiarie, KCB Mortgage Division Director.

“Under the partnership, club members who comprise developers, estate agents, architects, engineers, quantity surveyors will now purchase decorative and industrial paints as well as adhesives and thinners at affordable prizes,” said Rakesh Rao, Crown Paints Chief Executive Officer.

Currently, Crown Paints has distributors in Arusha, Rwanda, Sudan and Uganda, and will soon be setting a factory in Tanzania.

The renewable partnership is part of similar agreements that the club has forged with Assa Abloy for security systems, Climacento Green Technology for Solar Systems, Polytanks for tanks, toys & water dispensers and Foresight Interiors for fitted kitchens & office cabinetry.

“Our core objective is to provide affordable construction materials with a view of making housing affordable in the East African region,” said Mr. Kiarie. He explained that developers were increasingly demanding more services under one roof, and thus the need to offer centralized services under the KCB Mortgages Division.

S&L Developers Club was created to provide a platform for both established and upcoming players in the real estate industry network and share ideas. The club established in 2009 by KCB Mortgages Division, currently has 300 members. KCB Mortgage Division is a unit within the KCB Group which was born after KCB Group absorbed its lending subsidiary Savings and Loan (S&L).

The amalgamation of the mortgage business with the parent company has since strengthened its capacity to finance huge housing projects in the region and helped is annexe larger market share. Before amalgamation of S&L and KCB Bank, S&L Mortgages was a wholly-owned subsidiary of KCB Group. KCB has retained the S&L mortgage brand in the market and avails mortgages to all the customers within its extensive branch network in Tanzania, Uganda, Rwanda, South Sudan and very soon in Burundi.