NCBA Bank has signed a strategic Memorandum of Understanding (MoU) with Salvador Caetano Kenya Limited to introduce a structured Asset Financing Scheme aimed at expanding access to premium internal combustion engine (ICE) and electric vehicles (EVs) in Kenya.
The partnership, announced in Nairobi on May 13, 2026, is expected to enhance vehicle ownership for both personal and commercial customers through flexible and customer-focused financing solutions.
Flexible Financing for Personal and Commercial Vehicles
Under the agreement, customers will access financing of up to 100 per cent for personal vehicles and up to 95 per cent for commercial units. The financing package also includes repayment periods of up to 84 months and discounted processing fees.
Customers purchasing vehicles through Salvador Caetano Kenya Limited will benefit from tailored financing options across a wide range of globally recognised brands, including Hyundai, Kia, Ford, JMC and Chery.
Focus on Electric Vehicle Adoption
The partnership also seeks to accelerate the adoption of electric vehicles in Kenya as interest in cleaner and sustainable mobility solutions continues to grow.
Customers purchasing EV models such as the KIA EV6, Hyundai IONIQ 5 and Hyundai Kona EV will access financing of up to 90 per cent with repayment periods of up to 60 months.
NCBA Reaffirms Leadership in Asset Financing
Speaking during the signing ceremony, NCBA Group Director for Asset Finance and Business Solutions, Lennox Mugambi, said the partnership demonstrates the bank’s commitment to supporting economic growth and sustainable development through innovative financing solutions.
“At NCBA, we believe in the power of partnerships to ignite belief and empower ambitions. This collaboration with Salvador Caetano Kenya Limited places customers at the centre of practical, flexible financing solutions that make vehicle ownership more accessible and aligned to their needs today and into the future. As the market leader in asset finance with a Hire Purchase market share of 35.4% as of April 2026, we remain committed to delivering solutions that support individuals, SMEs, and corporates in achieving their aspirations while accelerating Kenya’s transition towards sustainable mobility,” said Mugambi.
Partnership to Support Businesses and Fleet Owners
The NCBA–Salvador Caetano Asset Financing Scheme will target retail customers, SMEs, corporate fleet buyers, logistics operators and organisations seeking to transition towards sustainable fleet solutions.
Salvador Caetano Kenya Limited Managing Director Aurélien Glay said the partnership would improve customer convenience and affordability at the point of sale.
“Our partnership with NCBA marks an important milestone in making vehicle ownership more accessible to customers across Kenya. By integrating competitive financing solutions directly into the customer journey, we are creating a seamless experience for both retail and business customers seeking reliable, premium, and sustainable mobility solutions. We are particularly excited about supporting the adoption of electric vehicles as the market steadily evolves towards greener transportation,” said Glay.
Growing Demand for Sustainable Mobility
The collaboration further strengthens NCBA’s dealer financing ecosystem and highlights the bank’s continued investment in integrated financing solutions that improve customer access at the point of sale.
The partnership comes at a time when Kenya is witnessing increased demand for flexible vehicle ownership solutions and growing interest in environmentally friendly transport alternatives.