NCBA Bank Kenya has signed a wide-ranging partnership with Mobikey Truck & Bus Limited to provide flexible asset financing for businesses acquiring commercial vehicles and heavy-duty equipment.
The agreement supports the financing of new units such as MAN trucks and buses, Randon trailers, and Hyundai construction machinery up to 100 per cent of their value, while used assets are eligible for up to 80 per cent financing.
Borrowers stand to benefit from a moratorium period of up to 60 days after disbursement, competitive processing fees, and the ability to bundle insurance and other ancillary costs into the loan principal.
Mobikey is a leading supplier of mobile assets across Kenya, Tanzania and Uganda, specialising in trucks, buses, trailers and agricultural and mining machinery. The firm’s expertise, coupled with NCBA’s reach as a major asset lender, sets a foundation for efficient expansion of logistics, construction, agricultural mechanisation and education infrastructure across East Africa.
The partnership aims to bridge the financing gap for business owners and SMEs struggling to access capital-intensive equipment due to liquidity constraints and high collateral requirements.
The deal arrives when Kenya’s construction sector contracted, its contribution to GDP slipping from 7.1 per cent in 2020 to 6.3 per cent in 2024, and the land transport sector declining from 11.4 to 10.8 per cent over the same period.
The slowdown was attributed in part to delayed payments in government infrastructure projects; constraining contractors’ ability to invest in equipment.
The new asset financing model by NCBA and Mobikey is designed to empower firms in logistics, transport, construction, agriculture and education through timely access to essential assets.
NCBA’s Group Director for Asset Finance and Business Solutions, Lennox Mugambi, stated that the partnership arrives at a critical juncture for business growth, enabling customers to acquire assets that enhance productivity without overstraining capital.
Mobikey’s chief executive Ricardo Teixeira affirmed that the collaboration will expand access to high‑quality machinery for enterprises and individuals, leveraging NCBA’s strong market presence and credibility.
Beyond financing, the initiative is expected to deepen economic impact in underserved areas. For example, modern buses support improved school transport and access to education, while construction equipment enables rural infrastructure projects and agricultural mechanisation, reducing post‑harvest losses.
In a context where asset financing is becoming a pivotal tool for businesses to scale without crippling upfront costs, the NCBA–Mobikey partnership positions itself as a transformative enabler.
By linking loans to operational assets and embedding flexibility in repayment terms, the arrangement not only addresses immediate equipment gaps but also strengthens the resilience and competitiveness of Kenyan SMEs and critical sectors across the economy.
Written By Ian Maleve
