SELECT LAUNCHES PAY DAY LOAN

MBABANE - Select Limited has launched two products anticipated to bring some festive financial relief, namely the Pay Day Loan and Short Term Loan.

These products were launched as part of the company’s celebration of its 20 years of operating in Eswatini. This was disclosed by Bongani Motsa, Chief Executive Officer of Select Eswatini, during an interview where he elaborated on how the company had made sure that it embodies its’ slogan of ‘Sikhula Nawe’ since it opened shop in Eswatini. Motsa explained that “Sikhula Nawe” was anchored on their corporate core values and that 20 years of living up to these values had ensured that Select stayed relevant to its customers by providing them affordable products with the bare minimum processing time at a place of their convenience.

He mentioned that the PayDay Loan is essentially an advance loan between E500 and E3 000 that is payable within one month, but allows the customer to borrow again once they he/she has paid the installment. The second product, which is the short-term loan, ranges between E500 and E10 000 and is payable from within 1 month up to 12 months.

Improvement

Other products Select offers include a payroll loan of E100 000 to E250 000, which could be utilised, among other priorities, as a housing loan and home improvement loan for housing related projects. “To accelerate our responsiveness to customers while leveraging ICT to reduce our carbon footprint, we have gone paperless to a large extent, an example being loan applications that are now be done online via a mobile software application through an agent who goes to the customer at a time and place convenient to the customer to assist them with their application and conclude the loan right then and there,” said Motsa.

He also stated that the company has a resourced dedicated call center that assists with telephonic enquiries. Motsa said they also leverage advanced technology in the form of a website calculator that was introduced this year, which allows customers to make preliminary online enquiries. According to Motsa this “has been one of our greatest contact success initiatives because we have already been able to assist customers that are based overseas with rollover loans, without them having to physically visit a branch or being visited by any of our agents. This clearly demonstrates that we are accessible to our customers anywhere in the world.” Motsa highlighted that customer centricity was important to the business. He said another aspect that was just as equally important was the company’s social responsibility practices, which resonate with their ‘we care’ CSR objectives.

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