NCBA Bank Kenya has entered into a strategic partnership with Mobikey Truck & Bus Ltd to boost access to asset financing for businesses and individuals seeking to acquire MAN Trucks, MAN Buses, Randon Trailers, and Hyundai construction and mining equipment.
Through the partnership, customers can access up to 100 % financing for new units and up to 80% for used assets. With flexible repayment terms, a 60-day moratorium, and the ability to bundle insurance premiums and processing fees into the loan amount.
Supporting business growth amid sectoral challenges
NCBA Group Director of Asset Finance and Business Solutions, Lennox Mugambi, said the collaboration comes at a critical time when sectors such as construction and transport are facing slowed growth and liquidity challenges.
“This partnership will allow us to offer our customers an unrivalled range of asset financing options to grow and expand their operations as they pursue their financial goals,” he said.
However, the move is timely, given that the 2025 Economic Survey by the Kenya National Bureau of Statistics (KNBS) revealed a decline in the contribution of the construction sector to GDP, from 7.1% in 2020 to 6.3% in 2024. A similar drop in land transport, from 11.4% in 2022 to 10.8% in 2024. According to the 2024 Auditor General’s Report, the construction sector accounts for over 51% of all government pending bills, which affects contractor liquidity and deters new investments.
Empowering SMEs, contractors, and logistics players
Mugambi emphasised that the flexible solutions will directly benefit contractors, logistics firms, SMEs, and other business owners who face limited access to capital, which is critical for scaling operations.
“By providing flexible financing solutions for the acquisition of trucks, buses, trailers, and equipment, NCBA is actively addressing the challenge of capital access, thereby empowering businesses and enabling economic growth,” he added.
Additionally, the partnership supports secondary sectors such as agriculture and education. In agriculture, improved access to construction equipment enhances rural infrastructure and mechanisation, helping reduce post-harvest losses. In education, MAN buses enable schools to expand student mobility, outreach, and learning experiences.
Broad target market across key economic sectors
The financing packages target logistics, construction, transportation, and agriculture. SME sectors, as well as individuals seeking personal equipment financing. The offering aligns with Kenya’s ongoing shift toward asset financing as a strategy for expanding business operations without the burden of large capital expenditures.
Mobikey optimistic about wider reach
Mobikey CEO, Ricardo Teixeira, welcomed the partnership, noting that NCBA’s financial expertise and market reach will help broaden customer access to essential business assets.
“We are delighted to partner with NCBA Bank Kenya. Their strong presence and solid reputation in the market make them an invaluable ally in our mission to empower enterprises,” Teixeira said.
He added that the partnership enhances Mobikey’s capacity to deliver value to clients through synergistic, flexible financing, which will ultimately support productivity and job creation across Kenya.
Asset financing on the rise in Kenya
The partnership comes at a time when asset financing in Kenya is gaining momentum, as businesses seek to expand without upfront capital constraints.
NCBA and Mobikey believe that by offering tailored, accessible financing options, they are not only supporting business growth but also driving national economic development through better access to modern equipment and transportation solutions.