In a move expected to unlock growth for small and large businesses alike, NCBA Bank Kenya and Mobikey Truck & Bus Ltd have partnered to offer easier access to financing for essential commercial vehicles and equipment.
The deal will see customers enjoy financing options for MAN trucks and buses, Randon trailers, and Hyundai construction and mining equipment, with up to 100% financing for brand-new assets and 80% for used ones.
Buyers will also benefit from flexible repayment terms, a 60-day repayment grace period, and the ability to include insurance and processing fees in the loan.
The NCBA Mobikey asset financing partnership comes at a time when sectors like construction and transport are grappling with slower growth and tight cash flows.
“This collaboration is timely,” said Lennox Mugambi, NCBA’s Group Director of Asset Finance and Business Solutions. “It gives our customers a powerful tool to scale their operations through practical, accessible financing whether they’re in construction, logistics, education, or agriculture.”
According to Kenya’s latest Economic Survey, the construction sector’s contribution to GDP has dipped from 7.1% in 2020 to 6.3% in 2024, while road transport fell from 11.4% in 2022 to 10.8%. The Auditor General’s 2024 report also shows the construction sector is weighed down by unpaid government bills making it even harder for contractors to invest and grow.
Mugambi said that by easing access to commercial vehicles and heavy equipment, the partnership directly supports contractors, SMEs, and logistics players, many of whom struggle to raise capital for critical investments.
“We’re not just helping businesses acquire trucks or excavators,” he added. “We’re enabling them to operate more efficiently, take on new projects, and ultimately boost job creation and economic resilience.”
Beyond transport and construction, the benefits cut across multiple sectors. In agriculture, better access to equipment means rural roads can be improved and mechanised tools made more available helping reduce post-harvest losses. In education, schools using MAN buses can expand access and improve students’ learning experience by solving transport challenges.
The partnership also caters to individuals and SMEs seeking personal or small-scale financing to purchase work-related vehicles or machinery. It aligns with Kenya’s broader shift toward asset financing, allowing businesses to grow without making huge upfront payments.
Mobikey CEO Ricardo Teixeira welcomed the deal, saying it will help the company reach more clients and add value through flexible, well-structured financing.
“NCBA brings strength and trust to this partnership,” he said. “Together, we’re offering businesses the ability to expand without heavy upfront financial strain and that’s critical for productivity and employment across the country.”
As more businesses look for smart ways to scale, asset financing continues to grow in popularity. Both NCBA and Mobikey are optimistic that this partnership will play a significant role in supporting Kenya’s economic development one truck, trailer, or bus at a time.
