Himaya Credit

Micro, Small and Medium-sized Enterprises (MSMEs) are vital to economic growth, job creation, provision of goods and services, and poverty alleviation in emerging markets.

“Leveraging Power and Resilience of Micro, Small and Medium-sized Enterprises (MSMEs) to Accelerate Sustainable Development and Eradicate Poverty in Times of Multiple Crises.”

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Your Partner in Property Development Financing
At Himaya Properties, we understand the importance of investing in property development to generate sustainable income streams. That's why we offer innovative financing solutions tailored to meet the needs of our clients. Our Development Loans program provides full financing for clients looking to build rental-generating properties, including apartments, flats, and commercial developments such as petrol stations.

What sets Himaya Credit apart is our commitment to providing 100% financing for property development projects. We believe in empowering our clients to pursue their investment goals without the burden of upfront capital requirements. With Himaya Credit, all you need is a genuine title deed for the property, and we'll take care of the rest.

Our Development Loans program operates on a rental sharing model, where profits are distributed between Himaya Credit and our clients. We offer a competitive rental sharing ratio of 70:30, with 70% of rental income going to Himaya Credit until the loan is fully repaid, and 30% to our clients.

Welcome to our jvc program 0715 669996

Important Considerations while taking loan;
Interest Rates and Fees: Compare the interest rates, fees, and terms of the new loan with your current loan.
Loan Terms: Ensure that the new loan offers favorable terms, including repayment period and any prepayment penalties.
Credit Score: Your credit score may affect your eligibility for refinancing and the interest rates offered.

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Jambo, are you looking for the perfect financial solution to meet your goals? Whether you’re planning to buy a new home, expand your business, or simply need extra funds for an unexpected expense, we have the right loan products tailored just for you. Feel free to reach us out 0715 669996 your best financing option.

Why Choose Us?

Competitive Interest Rates: Enjoy some of the best rates in the market.
Flexible Repayment Plans: Choose a repayment schedule that fits your budget.
Quick and Easy Application Process: Get your loan approved with minimal hassle and paperwork.
Expert Financial Advice: Our team of financial experts is here to help you make the best decision.

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Our Loan Products;
Log Book Loans
Title Deed Loan
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Reach out for financing
Our Loan Products;
Log Book Loans
Title Deed Loan
SME Loan
Group Loan
Insurance Premium Financing (IPF)
Banker’s Loan
Insurer’s Loan
MOU Loan
Islamic Financing
Check Discounting

To our Muslim family and friends ...

Karibu Himaya Credit a Together As One Franchise.
We have tailor made products just for you.
We are here to assist you overcome your financial needs.
Get your logbook loan of up to Kshs. 10,000,000 in just 24hrs.

Our offices are open everyday from 7am
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Here is why you should consider land banking with our title deed ready projects. Get that money savings from the bank and reap with Land. Reach me out now while the parcels of land still last.

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See illustrations below

LAND BANKING

Land banking is a process where a land aggregator buys small blocks of land at different locations for either selling for a profit or developing infrastructure. The aggregator purchases the land at lower rates and holds the title ownership until the prices appreciate, and sells it off to reap profits.

According to Nairobi Metropolitan Area Land Report which highlighted that in 2019/2020 the land sector recorded an annual capital appreciation of 1.5%, compared to the price correction of 0.3% recorded in 2018/2019, attributed to increased demand for land mainly in the low rise residential areas and satellite towns. Asking land prices in low rise residential areas recorded a 3.8% capital appreciation y/y, attributed to the availability of development land in these areas. Additionally, people are attracted to these areas as they are sparsely populated, thus offering exclusivity and privacy. Unserviced land in satellite towns such as Ruaka also recorded a capital appreciation of 3.8% y/y, attributable to the growing demand for land in these areas fueled by the demand for housing by the growing working population as the areas act as Nairobi’s dormitory, coupled by the improving infrastructure.

Some of the factors that supported the performance of the sector in 2020/2021 include;

Improving infrastructure with the government aggressively focusing on the implementation and conclusion of the various projects such as the Lamu Port-South Sudan-Ethiopia Transport (LAPSSET) project whose first berth was completed and launched in May 2021, Nairobi Expressway which is expected to be completed by February 2022 (six months ahead of its initial December 2022 completion date), and, the Western Bypass, among many other projects, which will in turn boost property prices and open up surrounding areas for real estate development,
The 0.6% and 33.6% improved budget allocation for the infrastructure, and, Housing, Urban Development and Public Works sectors in FY’ 2021/22 to Kshs 182.5 bn and Kshs 21.8 bn, respectively, from the Kshs 181.4 bn and Kshs 16.2 bn allocated in FY’2020/21, respectively. The improved allocations for the sectors is also expected to significantly increase development activities in the infrastructure and housing sectors which in return will source for improved demand for land and its overall upward performance,
The increasing focus on the affordable housing agenda by the government and other private developers hence creating demand for land especially in the satellite towns of NMA,
Relatively high population growth rates and urbanization rates of 2.3% and 4.0%, respectively in Kenya, against a global average of 1.1% and 1.9%, respectively, and,
Reduced supply of development land at affordable prices in areas close to the Nairobi CBD resulting in demand for the same in satellite towns.

Despite the challenges affecting the sector, some of the factors that are likely to shape it going forward include;

Stamp Duty (Valuation of Immovable Property) Regulations 2020- In a bid to shorten and ease land transaction timelines and processes in Kenya, the National Treasury Secretary, Hon Ukur Yatani published the Stamp Duty (Valuation of Immovable Property) Regulations 2020, in October 2020. In addition to simplifying land transactions, the move also boosts confidence in undertaking land transactions in the country thus improving performance of the land sector through increased demand and uptake, as well as boost prices of various regions,
Digitization of Land Records- In a bid to curb fraud cases and ease land transaction processes, President Uhuru Kenyatta launched the National Land Information Management System (NLIMS) in April 2021, marking the culmination of years of digitization of land records in Kenya. The launch of the digital land platform named ‘Ardhi Sasa’, which was first rolled out in Nairobi then in other counties in phases, coincided with the opening of the National Geospatial Data Centre, an online depository that will contain all the land records in Kenya, and,
E-Construction Permit System- The system which also includes the QR code system was launched by City Hall in March 2020 to improve building plan approval performances, however was compromised in June 2021 forcing its operations to be withheld, and has since been under renovation with operations expected to resume in August 2021. With its revamp, it will further enable easier and faster building plan approvals which in return will boost land development activities through various construction activities which initiate improved demand for land.
NMA Land Sector Performance 2021 Based on Various Locations
For the analysis, we conducted research on various major towns within the NMA and classified them as follows;

High Rise Residential Areas: They comprise of areas such as Kileleshwa, Dagoretti, Githurai, Embakasi, and Kasarani, and are majorly characterized by the numerous high rise buildings such as the apartments found within,
Low Rise Residential Areas: These are areas which generally consist of low rise buildings such as the bungalows, maisonettes and villas. They include; Kitisuru, Runda, Ridgeways, Karen and Spring Valley,
Commercial Zones: They comprise of areas such as Kilimani, Westlands, Riverside and Upperhill, and are popular because of the numerous commercial office buildings that they have, and,
Satellite Towns: Land in the area was categorized into serviced (site and service schemes) and unserviced land.
The NMA land sector on overall recorded an average annual capital appreciation of 1.8% in 2020/2021, 0.3% points increase when compared to the 1.5% realized in 2019/2020, with asking prices averaging at Kshs 127.8 mn thereby realizing a 9-year CAGR of 12.2%. The improvement in performance was mainly attributed to the increased demand for land in low rise areas which recorded the highest annualized capital appreciation of 4.6% compared to a market average of 1.8%. However, land prices in the commercial areas of the NMA registered the highest price correction declining by 3.6% attributed to unaffordability with their current average prices coming in at Kshs 404.4 mn compared to a market average of Kshs 127.8 mn, coupled with the limited development activities in the real estate commercial office sector and an oversupply of 7.3mn SQFT as at 2020.

The summary of the performance is as shown below;

Import Duty Financing

With a car finance deal from us, you can buy your imported car from just about anywhere – be it a dealership or private seller.

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BUSINESS LOANS
Need fast working capital for your small business/ start up? We Offer secured short term loans in Kenya to meet your daily business needs.

REQUIREMENTS:
Register as a Member (Ksh. 1400)
Minimum Savings period of 3 months
Acquire Loan Amount (3 times your savings)
All at Affordable Interests
The Minimum Repayment period is 3 months
We encourage daily, weekly or monthly repayment

PERSONAL LOAN

- Register to become a member (1,400)
- Must have a visible business
- Business must have been in existence for more than 1year
- Minimum saving period of 2months
- You get loan 3 times your savings
- Repayment period between 3months to 1 year
- Affordable interest rate

LOGBOOK LOAN

You are able to borrow cash against an owned vehicle provided it’s not under any finance.

Requirements:

Original LogBook
KRA Pin
6 months M-Pesa/ Bank Statement
Benefits:

No CRB checks
I am Interested
What is a logbook loan check?
Simply put, a logbook loan is a loan secured against a vehicle. By providing your vehicle’s logbook, verifying that you are the registered keeper of the vehicle in question, you can borrow money while still being able to use your vehicle.

Can you sell a car with a logbook loan on it?
By taking out a logbook loan the loan company effectively takes ownership of the car, so you cannot sell the vehicle while you still owe money to the company.

For financing contact +254 715 669996

KRA to Auction 193 Vehicles, Clothes and Household Goods Next Week to Recoup Taxes .

KRA has set next week Tuesday, June 28, as the official auction date for import goods that have overstayed at warehouses in Mombasa Among the things to be auctioned are bales of secondhand clothes, 193 vehicles, and household goods Most of the goods had been shipped in by small-scale traders whose businesses went down due to the COVID-19 pandemic, making it difficult for them to pay duty.
Bales of secondhand clothes, 193 vehicles, and household goods will be auctioned in Mombasa on Tuesday, June 28, as the Kenya Revenue Authority (KRA) seeks to recover millions in taxes.

Biggest casualties are small-scale traders According to Business Daily, the items which have overstayed at the port will be auctioned in 322 lots to decongest the port warehouses.

This is after their owners were unable to pay taxes and other requisite duties, most being traders whose businesses went down because of the COVID-19 pandemic. The biggest casualties are small-scale traders who import through consolidated cargo agents who often take longer to pay clearance duty. “Goods will be auctioned pursuant to provisions of section 42 of the East African Community Customs Management Act," read part of the notice dated May 20.

It added that the exercise would be conducted unless the undermentioned goods were entered and removed from the custody of the Customs Warehouse Keeper, Kilindini, within thirty (30) days.

Goods are in 16 warehouses The exercise is meant to help the KRA recover millions of shillings, with interested buyers requested to view the goods in the 16 warehouses in Mombasa.

In recent years, the number of uncollected goods at the port has continued to rise as importers grapple with high taxes.

On Tuesday, buyers will be allowed to acquire any of the 193 cars and canters, used clothes and household goods. There are also 48 forty-feet containers with sewing machine centre beams, pipes, pipe fittings, and a tea processing plant with accessories.

Good cannot be sold below reserve price Daily Nation reports that before a public auction, the commissioner for customs and border control issues a notice in the Kenya Gazette. Upon expiration of the 30-day notice, uncollected items are deemed to have been forfeited by their owners.

The reserve prices for the different products are determined by several elements, among them customs duty, sale expenses, as well as port and freight charges. Interested buyers should be aware that goods cannot be offered at prices below the reserve price.

NB; If you happen to be among those affected or have cargo at the port, may as well contact +254 715 669996 for import duty financing and other many more financing options.

At our head quarter's office in Nairobi CBD with the capable team members of staff.

What Is Import Duty?
Import duty is a tax imposed by a country’s customs authorities on imports and some exports in order to raise revenue for the government. Import duty may also be referred to as customs duty, tariff, import tax, or import tariff.

What Is Import Duty Financing?
Import duty financing is a great way to get your products into the country without having to pay for them first. This can be a huge advantage when you are importing from overseas and need some extra time to find the right buyers before you have to put down money. Because import duty financing is not a loan, it doesn’t require any credit checks. The best part? You get to import more goods than you would have been able to afford with cash savings.

Apply For Import Financing
1. Who Can Use Import Duty Financing?
Import duty financing can be used by both businesses and individuals who are importing goods into their country. Import duty financing is a powerful tool for importers to use when they need an extra boost of cash flow. Import duty financing is great for import companies, startups, or even those looking to import a few expensive items they would not have been able to afford otherwise. This method of importation allows you to import more products than if you paid with cash savings.

It’s perfect for those who are selling products that have high import duties, or if you plan on purchasing goods from overseas and want the ability to pay over time. Import duty financing is beneficial for businesses of all sizes. If your business is starting out and lacks the capital, import duty financing can help finance some or all of the importation duties so that you are able to import the goods you need to get started.

This type of financing is beneficial because its interest rates are typically lower than those for traditional loans and, unlike cash down payment on the importation, there is no risk involved if your business fails as with other forms of import duty factoring or import finance.

2. How Does Import Duty Financing Work?
Importing duty financing works mainly using invoice factoring technology. Invoice factoring entails selling import documents to the import duty financing company. The business can then use those funds for any purpose, such as importing more goods or making other investments in their business. If they have a good relationship with their financier, they may also be able to access additional funding from them at a later date if needed. Many import duty financing institutions such as Himaya Credit Limited use this technology to help individuals and SMEs in Kenya to increase their ability for quick and effective credit decisions.

3. How Much Can Be Financed?
The import duty financing company can finance all or part of the import duties that have been paid to customs. The amount is usually based on a percentage of the invoice value, and sometimes it may be calculated as a flat fee.

What Documents Are Needed For Import Duty Financing?
You will need an official copy from your supplier showing how much you owe them in total. You also must provide proof of payment such as bank statements etc, so they know when this money came out of your account. If you don’t have these documents immediately available but plan to get them soon then let the lender know ahead of time.

4. Is It Expensive To Use Import Duty Financing?
Basically, interest rates on import finance are often cheaper than those on regular loans. For example, import duty financing can be cheaper than taking out a high-interest rate credit card to pay for an import.

Import Duty Financing Is The Cheapest Way To Import Goods
It’s also much easier and quicker to secure import finance online or over the phone compared with other forms of funding due to its quick application process which often only takes around 1 hour. Interest rates are usually lower too making it great value for money in comparison to some other types of loans on offer today.

Could My Business Fail While Using This Type Of Finance?
The short answer is yes but that would be true if you were using any type of loan so there isn’t really anything special about this fact when it comes down to your business’s ability.

5. How Much Is Import Duty In Kenya?
Kenyan tax to be paid conform to international conformity assessment (HS) of goods categorization and Africa (Comesa (EAC) Common External Levy.

Duties And Taxes:
Taxes are due based on the value of the imported goods and the appropriate tax rate.

Tariffs
The East Africa Community Common External Tariff provides for import taxes ranging from 0% to 25% depending on the goods (CET). However, sensitive commodities attract a duty of above 25%. Schedule 2 of the EAC Common External Tariff lists the sensitive products.

Excise Tax
Imports are subject to excise duty if excisable. The Excise Duty Act 2015 sets the rates.

VAT (VAT)
The normal VAT rate is 16%. However, items exempt from VAT under the 2013 VAT Act are charged at 0%.

IDF & RDL (RDL)
Under the various Fees and Levies Act of 2016, 2% import declaration fees and 1.5%, Railway Development Levy are imposed on the value of imports.

6. What Are Major Imports In Kenya?

Crude oil, chemicals, industrial goods, equipment, and automotive parts are the most important shipments. Kenya’s greatest global demand is in Africa, followed by the Eu Countries. Kenya’s biggest import partners include China, Pakistan, the Emirates, Zimbabwe, Arab Emirates, the United States, and the Japanese

7. How Do You Clear Imported Goods In Kenya?
Any imported goods, such as vehicles, machinery, or basic commodities, must be cleared by a qualified customs clearing agency. When working with your preferred clearing agent, be sure to always supply import credentials such as: Regarding regulatory items, a Certification of Compliance (CoC) from of the PVoC agency; whenever appropriate, an importing standard mark (ISM);

Pro Forma income invoices from the exporting company that are legitimate.
Trade Invoice from the office or workplace that is valid
Bill of Contract of carriage (sea or air)
Country certification
If the logbook is not in English, it should be transcribed to English (motor vehicle)
Valid driving and ownership licence
Identification Card Number (PIN) or Employer Identification Number (TIN) (PIN certificate)
Declaration of exclusion (in case goods are exempted)
Contracts/Purchase Orders
Automobile Vehicle inspections Certification
Checklist for Preparing
Payment Correspondence (if available)
8. What Are The Benefits Of Using Import Duty Financing?
There are many benefits to import duty financing and they include:

Not having the down payment means you can import goods without affecting your cash flow too much
With import duty financing there is no guarantee that your business will succeed so it’s less risky for lenders compared to traditional loans which usually require a repayment even if the business fails. They may also be able to recover some of their money through other assets like property etc.
Interest rates on import duty financing tend to be lower than those offered by banks or other sources for traditional finance because these types of loans have a higher risk attached. This makes them better value for money as well as being easier and quicker to apply online or over the phone, taking around an hour in most cases.
Enable the importer to avoid high storage and demurrage charges at the port
Enable the importer to avoid the auction of goods imported, due to non-payment of duty.
Enable importers who import expensive items like cars to avoid paying large down payments on their purchase which would otherwise be required by vendors
Import Duty Financing can help businesses import goods they couldn’t otherwise afford
The benefits of using import duty financing include being able to import more goods without needing a large cash deposit
9. What Are The Disadvantages Of Using Import Duty Financing?
There are a few disadvantages of import duty financing. One is that you don’t own the goods until they are paid for in full, so if your business fails or something goes wrong with the import, then you might end up losing them.

Secondly, import duty financing is riskier than most other types of loans so these are not suitable for everyone. Individuals need to be over the age of 18 and hold a bank account with an accepted lender, as well as have an income that will last at least three months after applying for the finance.

Another disadvantage is that interest rates can fluctuate based on changes in currency exchange rates while the loan isn’t being repaid which increases volatility risk for importers while their debt isn’t yet fully repaid. This means it’s a good idea to repay as quickly as possible to avoid these fluctuations making repayment more difficult than expected.

It’s important to understand that import duty financing comes with short repayment periods which could mean smaller repayments, but these need to be made on time for your loan provider. If you miss a single payment it will affect the good credit rating of your business and result in higher interest rates or fees applied when applying for future import duty financing or other types of funding. It’s also possible that missed payments may lead to the cancellation of import duty finance contracts so always ensure you can pay back what you owe before committing yourself financially.

Frequently Asked Questions (FAQs) About Import Duty Financing
How Is Import Duty Calculated?
The following is the formula for calculating the fees:
Your vehicle’s CRSP will be provided by KRA.
The import duty is equal to 25% of the CRSP.
Excise duty is equal to 20% of the CRSP plus import duty combined.
VAT accounts for 16% of the CRSP plus import duty and excise duty.
The IDF Fee accounts for 2.25% of the CRSP.

Can Import Duty Be Deferred On Imported Goods?
Who can apply for import duty financing and what are the requirements needed before applying? Is a business required to own their premises or office building before they can qualify for import duty finance?
Others require the company to actually own a place of business prior to making any loans available. On the contrary, Himaya Credit LTD may allow importing companies that don’t yet own property but do rent an office space to qualify for Import duty Financing.

Who Can Apply For Import Duty Financing And What Are The Requirements Needed Before Applying?
Is a business required to own their premises or office building before they can qualify for import duty finance?
Others require the company to actually own its place of business prior to making any loans available. On the contrary, Himaya Credit LTD may allow importing companies that don’t yet own property but do rent an office space to qualify

What Is Custom Duty?
Customs duty is the charges applied on goods that are being transported across borders internationally. The custom duty applies to both exported and imported goods across all countries. There are no fixed rates for customs duties since custom duty keeps on changing depending on the rates, policies, and procedures for each of the respective countries.

What Is Import Duty Tax?
Import duty is a tax imposed by a country’s customs authorities on imports and some exports in order to raise revenue for the government. Import duty may also be referred to as customs duty, tariff, import tax, or import tariff

What Does It Cost To Ship A Car From Japan To Kenya?
Importing an automobile from Japan to Kenya would cost users approximately 30 and 60% of the car’s value. For instance, a vehicle in Japan with a selling value of Ksh. 500,000 may cost you about Ksh. 240,000 in import tariffs just.
The customs duties cost does not include taxes such as registrations, marine duty, shipping fees, fuel, and driving configurations. You must also budget for delivery, import service charges, equipment, and insurance coverage.
It is, therefore, necessary to establish whether the automobile complies with the Kenya Board of Standards code of conduct and motorized vehicles evaluation, guaranteeing that the car satisfies safety regulations quality.

What Is Excise Duty In Kenya?
In Kenya, excise duty, sometimes known as “compulsory levy,” is an additional tax. Import or export or local production of specific items, as well as the provision of excise tax service Indirectly, indicates that the KRA collects the duty also on producer or supplier, who would then transfer that on to the customer by including it in the price of the goods. National excise duty is collected on a regular basis or upon the introduction of products.

10. Conclusion
Import duty financing is a way to finance all or part of the import duties on an imported item. This type of financing can be used by both businesses and individuals who are importing goods into their country. The benefits of using this type of financing include being able to purchase the good without having the down-payment, the ability to import more goods than you would have otherwise been able to afford with cash savings, no guarantee that your business will succeed so it’s not as risky for lenders, interest rates are usually lower than those for traditional loans because there isn’t any collateral involved in these types of transactions. A disadvantage could be if importers don’t pay off their balance at some point during the repayment period then they’ll be charged late fees.

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We would like to introduce you to Import Duty Financing. Import duty financing is a great way to bring products into the country without having to pay for them first. This can be a huge advantage when you are importing from overseas and need some extra time to find the right buyers before you have to put down money. Import duty financing is not a loan, it doesn't require any credit checks or collateral, and it can take as little as 24-hours from application through approval.

Mitumba imports believe that everyone should be able to purchase high-quality clothing at reasonable prices while supporting local economies in Kenya. That's why we offer Mitumba Imports Payment Plans so customers can purchase goods on low-interest terms while also providing access to affordable clothing without ever needing a bank account or credit card!

The benefits of Himaya Credit Import Duty Financing
• Save time and money by importing without having to pay for the good first

• Get a better understanding of how much import duty you will have to pay before committing

• No credit checks are needed

• Increase the number of goods you can bring in from overseas