NAIROBI, Kenya, July 3 – Automotive financing technology firm Shekel Mobility is expanding its footprint in Kenya as it seeks to tap growing demand for working capital among vehicle dealers.
The firm is betting on digital financing to help unlock inventory growth in one of East Africa’s largest used-car markets.
The company, which operates a digital platform connecting dealerships with import financing, said it is deepening its presence in Kenya by onboarding more dealers and importers onto its platform as competition intensifies among fintech firms targeting small and medium-sized enterprises underserved by traditional lenders.
Kenya’s vehicle dealership sector has long grappled with limited access to affordable financing, forcing many dealers to rely on personal capital or expensive short-term credit to import vehicles.
The financing gap has constrained inventory expansion despite sustained demand for imported used vehicles.
Shekel Mobility says its platform allows approved dealerships to access financing for vehicle imports while digitizing key dealership operations, including vehicle sourcing and financing management.
The company argues that the model enables dealers to increase stock levels without locking up their own capital, improving liquidity and operational efficiency.
The expansion comes as financial technology firms increasingly target niche sectors of the economy with embedded financing products, offering digital alternatives to conventional bank lending.
The automotive trade has emerged as one such segment due to its significant working capital requirements and fragmented dealership landscape.
Speaking during a dealers’ forum in Nairobi, Shekel Mobility Co-founder and Chief Executive Officer Sanmi Olukanmi said Kenya remains a strategic market for the company.
“Kenya is one of Africa’s most dynamic automotive markets, and its dealers are ambitious, sophisticated and ready to scale.”
“Our commitment is to provide them with the financing and technology they need to grow their businesses confidently and sustainably.”
The company demonstrated its financing process to dealers, outlining how approved businesses can secure funding for vehicle imports through its digital platform while managing transactions
Shekel Mobility says it has supported more than 1,000 automotive dealerships across Africa through its financing platform and facilitated dealer transactions worth tens of millions of dollars, although it did not disclose its Kenya loan book or investment plans for the local market.
