High interest rates worry DSTV retail dealers

The DSTV Retailers Association in North Central Zone has expressed concern over the high interest charges by banks, saying the trend was becoming a great threat to their business.The Chairman of the zone and MD/CEO of ReachOut Marketing Limited, Mr. Funsho Lawal, disclosed this in Abuja at the maiden DSTV Forum held between the management of Multichoice, Super Dealers and retailers where about ten outstanding retailers were rewarded with different prizes.DSTV is also offering a special promo to customers during the Xmas and New Year celebrations.The meeting, which he said was the first of its kind, was an opportunity for super dealers and retailers to come together to see how we can appraise our performance all through the year and see how we can re-strategize for the coming year.Lawal said the greatest challenge to their business was high interest charges by banks.He said, In every field, finance has always been a major challenge in business. We are looking at how DSTV would get to most homes. Even buying our stocks is also part of the major challenge because sometimes we need the banks to come in for financial assistance in getting our stocks.But at the end of the day you find out that you will be sharing your profits with the banks. The hidden interest charges from these banks are very high. The hidden charges are not official but unofficially you see the charges.
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