NCBA Bank Kenya has sealed a strategic partnership with Mobikey Truck & Bus Ltd to provide comprehensive asset financing solutions for MAN Trucks, Man Buses, Randon Trailers, Hyundai Construction and Mining Equipments.
The asset financing solutions will include financing of up to 100% for new assets and 80% for used assets. Customers will also benefit from a moratorium period of up to 60 days, competitive processing fees and the option to bundle insurance premiums and other costs as part of the loan amount.
Speaking during the signing ceremony, NCBA Group Director of Asset Finance and Business Solutions, Mr. Lennox Mugambi, said the partnership comes at a time when the country looks to accelerate economic growth through increased investments in key sectors.
The 2025 Economic Survey by the Kenya National Bureau of Statistics (KNBS) reports that the contribution of the construction industry to GDP declined from 7.1% in 2020 to 6.3% in 2024, and land transport declined from 11.4% in 2022 to 10.8% in 2024. Severe liquidity problems have compounded the decline, with the 2024 Auditor General’s Report indicating that the construction industry accounts for over 51% of all government pending bills.
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This backlog continues to deter contractors and investors in the construction industry from accessing the capital needed to acquire equipment and machinery, ultimately undermining productivity and slowing economic growth.
Mr. Lennox noted that the flexible financing options available through Mobikey will encourage increased investments among SMEs and large commercial businesses, for whom access to capital has a marked impact on productivity and continued growth.
“By providing flexible financing solutions to contractors and logistics companies for the acquisition of MAN trucks, MAN buses, Randon trailers, and Hyundai construction equipment, NCBA is actively addressing the challenge of limited access to capital, thereby empowering businesses and enabling economic growth,” he added.
Furthermore, enhanced access to transport and construction equipment supports other sectors such as agriculture and education. In agriculture, it facilitates improved rural infrastructure, mechanisation, and efficient distribution — boosting productivity and reducing post-harvest losses.
In education, MAN buses enable schools to improve student mobility, access learning opportunities beyond the classroom, and expand their catchment areas, ultimately contributing to school growth, empowerment, and better education outcomes.
The pact targets business owners in logistics, transportation, construction, agriculture, SME and other key sectors of the economy looking to acquire movable assets. Customers seeking personal financing of equipment will also benefit from the flexible terms on offer.
Mobikey CEO, Ricardo Teixeira, said this partnership expands its capacity to serve customers, combining its expertise in asset financing with NCBA Bank’s financial solutions. We have already seen great synergy in our collaboration, and we eagerly anticipate the transformative impact we can have together in enabling business growth and productivity across Kenya.”
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