NCBA Bank has unveiled enhanced Public Service Vehicle (PSV) asset financing and insurance solutions, reaffirming its commitment to strengthening Kenya’s transport sector. The new package, announced in Nairobi, offers more competitive, inclusive, and flexible financing terms for PSV SACCOs, established transport companies, and individual SACCO members.
Under the revised framework, PSV operators and established transport companies will now access up to 90 percent financing with repayment periods of up to 60 months. Individual SACCO members will benefit from up to 80 percent financing repayable over a maximum of 48 months.
This comes as NCBA continues to cement its position as a market leader in asset finance, commanding more than a third of Kenya’s share.
NCBA Group Director of Asset Finance and Business Solutions, Lennox Mugambi, noted that many PSV operators run sustainable businesses but face structural barriers in accessing credit. “By removing these barriers, we are enabling more operators to grow their fleets confidently under flexible and affordable terms,” he said.
To make credit more accessible, NCBA has eliminated two major requirements for individual PSV members: the need for SACCO guarantees and the pledging of SACCO share contributions as collateral. Borrowers will also have the freedom to choose their preferred insurance providers, giving them more flexibility, cost efficiency, and control.
Alongside financing, NCBA has introduced Komiut, a digital fare collection platform designed to revolutionize how PSV operators manage daily revenue. The platform allows operators to collect fares securely, track income in real time, and strengthen financial records—thereby reducing the risks of cash handling and opening opportunities for data-driven credit profiling.
Speaking during the launch, NCBA Director of Transactional Banking, Sally Chege, emphasized the bank’s focus on innovation. “We are committed to ensuring that our customers remain future-ready through technology. With Komiut, operators can track their income, plan better, and grow sustainably,” she said.
Safetek Systems Limited, NCBA’s technology partner, welcomed the collaboration. Its Director, Samuel Ndegwa, highlighted upcoming innovations such as structured queuing systems and digital fleet management tools aimed at decongesting termini, improving scheduling, and building efficiency. “Together with NCBA, we are shaping the future of mobility in Kenya,” Ndegwa said.
The latest offering underscores NCBA’s broader vision of supporting financial inclusion, digital transformation, and long-term growth in Kenya’s transport industry.