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EMMANUEL commented on Na-U-Next, Community Staple Store

Thanks for your comment Isaac. And by the way I really appreciate the idea map too you shared. I am currently going through it and will soon commence work on mine as you advised. Hope to learn more from experts like you in this platform. Kind Regards

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EMMANUEL commented on Na-U-Next, Community Staple Store

Thanks Ozuluonye for wonderful your comment and questions. First of all, customer interested in availing the rolling credit facility is required to submit a completed Promissory note. Once credit is approved for the household, the credit amount needs to be paid at the store within 1 month. Repayment is tracked in store and at head office which enable our Community Relationship Officer(CRO) to track delayed payments. House visits and tele-calls are made and every such detail is kept in a special register at the respective stores. The customer gets a period of 30 days to make the repayment without any interest. The customer is charged with a penalty for the next five days of non- payment. Further, a charge is levied for a delay between 36 to 40 days, 41 and 50 days. After the expiry of 60 days of non-payment, the customer will be black listed and only accepted back in the scheme only upon approval by the board of directors. Since, it lunched we currently have 2 Na-U-Next stores in Freetown. Over 1500 members have so far utilized Na-U-next services. This include 450 customers registered into our scheme and spending on an average 6.5USD per person/per month.
We have built strong relationship with local farmers for the supply of 75% all products in our store. This enable us to negotiate and get better deals from products thereby making sell at price lower than competitors. All non-brand products are measure using standardized tools and we monitor this throughout our outlet. Using the registration process for a retail format is found nowhere in the country and this facility is unique and first introduced by us. Once more thanks and hope I did justices to your questions