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Louis Ibah
KariGO Logistics Limited has sealed a partnership deal with Perfection Motors Company (PMC) Limited, to ease the purchase of the FAW brand of trucks by Nigerians who are into haulage businesses.
Under the terms of the agreement signed in Lagos recently, KariGO, a technology driven logistics company would provide a flexible financing option (secured from various creditor establishments) to assist existing and prospective truck owners in Nigeria to purchase the FAW brand of trucks which is being assembled and sold in Nigeria by PMC.
Managing Director of KariGO Logistics, Mr. Chris Oyeniyi, who spoke at a ceremony to consummate the deal said the partnership with PMC had become imperative given the difficulties experienced by investors in the haulage business in sourcing for funds to purchase new trucks or replace their ageing fleet.
He said the high interest rate from the banks and the lack of support from truck dealers had seen a decline in the number of new purchases of trucks.
Experienced drivers who sought to become truck or haulage business owners were the worst hit, he said.
Oyeniyi, however said beneficiaries would be truck owners on the platform of KariGO Logistics.
“What we have done is simply to introduce a revolutionary truck purchase or replacement formula that allows Nigerians on our platform own the brand new 2019 FAW truck at low interest rates from various banks and financial institutions.” said Oyeniyi.
“It is a partnership that seeks to eliminate the old rickety, rusty, retiree ( R.R.R.) trucks that are causing fatal accidents on Nigerian roads. In the months ahead, existing and prospective truck owners who come on board the KariGo platform will find it easier to replace their old trucks or purchase new ones to grow their businesses.” he added.
Oyeniyi also explained that the partnership between KariGO and PMC would give Nigerian banks greater confidence to offer financing for the acquisition of trucks for Nigerian truck owners at an almost zero risk to the bank.
