NAIROBI, Kenya, June 22 – Businesses and individual customers will be able to access financing of up to 100 percent of the value of vehicles and equipment under a new partnership between Stanbic Bank Kenya and Simba Corporation.
The two firms have launched an asset financing programme aimed at easing access to vehicles, agricultural equipment, power solutions and other productive assets at a time when many businesses are grappling with rising operating costs and tighter cash flows.
Under the arrangement, customers will be eligible for financing of up to the full value of the asset, subject to credit assessment. The package also includes zero facility fees, risk-based pricing and a 60-day repayment moratorium for business customers.
The lenders say the moratorium will allow businesses time to deploy acquired assets and begin generating income before loan repayments start.
The partnership comes as firms face increased costs linked to higher fuel prices, taxation and broader economic pressures, prompting growing demand for financing options that preserve working capital while supporting expansion.
Businesses will be able to access financing for commercial and passenger vehicles distributed by Simba Corporation, as well as agricultural machinery, power backup systems and other equipment.
The programme is also expected to support growth in the agricultural sector through financing for tractors and farm equipment, while helping businesses invest in backup power solutions to improve operational continuity.
Simba Corporation is additionally introducing new MG vehicle models into the Kenyan market, including electric vehicles, as demand for cleaner transport alternatives continues to grow among corporate and individual buyers.
Small and medium-sized enterprises are expected to be among the key beneficiaries of the financing arrangement, with both firms positioning the partnership as a way to improve access to productive assets and support business growth.
The deal highlights the increasing role of collaborations between banks and asset suppliers in expanding credit access and driving investment across sectors of the economy.
