Kenyans looking to acquire new vehicles and equipment will now have an easier time following a new partnership between SBM Bank Kenya and Caetano Kenya.
The deal, unveiled in Nairobi, will allow individuals and businesses to access tailored financing options covering up to 100 per cent of the cost of selected vehicles and equipment. The arrangement applies to brands such as JMC, KIA, Hyundai, Ford, Renault, Renault Trucks, and Hyundai Forklifts.
Customers will be able to secure loans starting from Ksh 300,000, with repayment terms stretching up to 72 months. They will also have the option to request a 60-day grace period before making their first instalment. Interest will be pegged at SBM’s base lending rate of 17.35 per cent plus one per cent.
Speaking during the signing ceremony, Caetano Kenya Managing Director Aurelien Glay said the partnership will ease the heavy burden of upfront costs that have locked many people and businesses out of acquiring reliable assets.
“We have seen many customers, whether individuals or SMEs, face real challenges in acquiring quality vehicles and equipment due to high upfront costs and limited access to competitive financing. These barriers often delay crucial investments in mobility and productivity. This partnership directly addresses those pain points, making it possible for customers to access the assets they need without compromising their cash flow,” he said.
The financing package will also include comprehensive motor cover for both private and commercial vehicles, as well as insurance premium financing spread across 10 months to ease payment pressure.
SBM Bank Kenya Director of Corporate and Institutional Banking Eric Wambua said the collaboration aligns with the lender’s goal of empowering customers to make investments that fuel economic growth.
“We understand that vehicles and equipment are not just purchases, they are investments that drive growth, create opportunities, and improve livelihoods. By offering competitive financing terms and a wide range of options through Caetano Kenya, we are helping customers turn their ambitions into reality,” he said.
The deal comes at a time when demand for efficient transport and operational assets is rising in Kenya, particularly among SMEs and corporate fleets. By linking selection at Caetano Kenya with financing from SBM Bank, the arrangement is expected to provide customers with a seamless one-stop solution.
It’s great to see Kenya doing well. That’s why we identified Kenya as a main hub for digital nomads and entrepreneurs.
Do check our Kenya entry at https://www.afrinomadhub.com/