Christine Kagendo 
Absa Bank Kenya Corporate & Investment Banking Managing Executive James Agin with Simba Corporation Executive Director Suraj Shah sign a strategic Memorandum of Understanding (MoU) with Simba Corporation to expand access to vehicle and agricultural equipment financing solutions for individuals and businesses.
- Absa Bank Kenya and Simba Corporation Partner to Accelerate Access to Vehicle and Asset Financing;
- Strategic partnership to provide flexible financing solutions for commercial vehicles, personal vehicles, and agricultural equipment;
Absa Bank Kenya and Simba Corporation have signed a strategic Memorandum of Understanding (MoU) to expand access to vehicle and agricultural equipment financing solutions for individuals and businesses.
Speaking during the signing ceremony,Absa Bank Kenya Director of Business Banking,Renato D’Souza,said: “For many businesses, particularly SMEs, access to affordable and flexible financing remains a key barrier to acquiring the vehicles and equipment they need to grow, improve efficiency, and compete effectively.
Through this partnership, we are addressing that challenge by providing clients with easier access to tailored asset financing solutions, faster turnaround times,and greater flexibility to invest in productive assets.”
Under the agreement, businesses will have access to financing options for a range of commercial vehicles, including trucks, buses, light commercial vehicles, and fleet solutions.
Customers will be able to access financing of up to 95%, repayable up to 72 months.They will also be able to access 100% financing for school buses,repayable over 84 months.
These financing options will support businesses seeking to expand their operations,improve logistics efficiency,and strengthen their transportation capabilities.
SMEs and large enterprises will also benefit from tailored financing solutions designed to support their business and cash flow needs.
On his part,Simba Corporation Executive Director Suraj Shah said “The partnership will make vehicle ownership more accessible for individuals through attractive financing packages and flexible repayment options. Individuals and families will be able to access financing of up to 95%, repayable over 72 months, to purchase quality passenger vehicles.
These solutions are intended to enhance productivity, promote mechanized farming, and improve efficiency across the agricultural value chain.
Customers in this sector will be able to access financing of up to 90%, repayable over 60 months.”
Absa Bank Kenya recently unveiled a revamped asset financing proposition aimed at deploying KES 100 billion over the next three years to businesses and individuals.
The enhanced offering is designed to improve access to productive assets and support growth across key sectors of the Kenyan economy,including manufacturing,trade and logistics,infrastructure,healthcare,and education.
The partnership with Simba Corporation forms part of this broader proposition,expanding customers’ access to financing for vehicles and equipment that can enhance productivity,strengthen business operations,and unlock new growth opportunities.
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