SBM Bank Kenya has launched a Ksh 1 billion Green Finance Facility to accelerate the adoption of electric (EV) and hybrid (PHEV) vehicles.
Available over the next 12 months, this fund provides consumers and businesses with accessible credit to transition to eco-friendly mobility. By lowering financial barriers to entry, the finance facility is playing a pivotal role in reducing Kenya’s carbon footprint and supporting a sustainable, zero-emission future.
SBM Bank Kenya Bank has invested Ksh 45 million to modernize its own logistics. Through a strategic leasing partnership with CFAO Mobility Kenya, SBM Bank has taken delivery of five advanced BYD vehicles, demonstrating the immediate viability of green technology.
“Our goal is to catalyze a national shift,” said Bhartesh Shah, CEO of SBM Bank Kenya during the unveiling of the high-performance fleet of BYD’s. “While we are proud to modernize our own logistics with this high-performance fleet, our primary mission is to enable our customers to do the same. By committing KES 1 Billion in financing, we are ensuring that sustainable mobility is an accessible reality for Kenyan entrepreneurs and families, not just a corporate concept.”
By adopting the BYD Shark 6 and Sealion 6 for its own fleet, SBM Bank serves as a blueprint for the sustainable transition the bank is now financing for customers. This move sets a new standard for environmental stewardship, supporting Kenya’s goal to reduce carbon emissions by 32% by 2030
“This collaboration sets the stage for future EV fleet transactions, expanded adoption of electric and hybrid vehicles, and the development of supporting services such as charging solutions, fleet management, and lifecycle optimisation. Our goal is to build a sustainable ecosystem that supports Kenya’s green mobility ambitions while delivering measurable value, ” said Nicolas Ruffier des Aimes, GM of BYD by CFAO Mobility Kenya.
This initiative follows a year of robust financial performance for the bank. Having achieved a significant turnaround with a Profit Before Tax of Ksh 614 million and a 55% rise in total operating income, SBM Bank is now leveraging its strong capital position to fund high-impact ESG initiatives.
The Ksh 1 billion credit line underscores the bank’s strategic intent to harmonise financial growth with responsible corporate citizenship, ensuring that as the bank prospers, it empowers its customers to contribute to Kenya’s national climate action plan of reducing carbon emissions by 32% by 2030.
> KCB Bank Opens Doors to Home Ownership For Informal Sector
Leave a comment