NCBA Bank Kenya has signed a financing deal with Mobikey Truck and Bus Ltd to provide full asset financing for buyers of new heavy commercial vehicles and machinery. The partnership is aimed at easing access to credit for businesses investing in transport and construction equipment.
Through the agreement, NCBA will offer up to 100% financing for new units, including MAN trucks, MAN buses, Randon trailers, and Hyundai construction equipment. Customers seeking used units will receive up to 80% financing.
“Partnering with Mobikey allows us to offer our customers an unmatched range of asset financing options to expand their operations,” said Lennox Mugambi, NCBA Group Director of Asset Finance and Business Solutions.
The financing package includes a 60-day grace period before repayment begins, flexible processing fees, and the option to include insurance and other costs in the loan structure.
The deal comes at a time when Kenya’s transport and construction sectors are under strain. Data from the Kenya National Bureau of Statistics shows the construction sector’s share of GDP dropped from 7.1% in 2020 to 6.3% in 2024. Land transport’s contribution declined from 11.4% in 2022 to 10.8% in 2024.
Meanwhile, the 2024 Auditor General’s Report flagged construction as the largest contributor to unpaid government bills, creating cash flow problems for contractors and suppliers. “We are enabling businesses to overcome capital limitations through flexible financing solutions for transport and construction equipment,” Mugambi added.
Mobikey Chief Executive Ricardo Teixeira welcomed the partnership and said the collaboration will open up opportunities for customers across multiple sectors. “We are excited to make our movable assets more accessible. This partnership will support businesses and individuals to improve productivity,” Teixeira said.
Beyond construction and transport, the deal is expected to benefit agriculture and education. Farmers and agribusinesses will gain access to equipment that supports rural infrastructure and mechanization. Schools will also have access to new MAN buses to improve student transport.
The agreement highlights a push by lenders and manufacturers to address capital access issues, especially for small and mid-sized enterprises, by tailoring products to the economic realities on the ground.
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