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SBM Bank Kenya has today signed a strategic partnership with Mobikey, a leading asset financing company in East Africa, to provide comprehensive asset financing solutions for businesses in Kenya.
In the partnership agreement, the two institutions will collaborate on customized offerings which will enable businesses to access up to 100 percent financing for new and used MAN trucks, MAN buses, Powertrac and Hyundai construction equipment.
Speaking during the event, SBM Bank Kenya Director of Corporate Assets, Eric Wambua, said the partnership comes at an opportune time as the country looks to accelerate economic growth through increased investments in key sectors.
“We are proud to partner with Mobikey, a respected player in the movable assets space in East Africa. This collaboration will allow us to offer our customers an unrivaled range of asset financing options to grow and expand their operations as they pursue their financial goals,” Wambua stated.
He noted that the flexible financing options available through Mobikey will encourage increased investments among SMEs and large commercial businesses, for whom access to capital has a marked impact on productivity and continued growth.
“With this partnership, we can empower businesses across key sectors of the economy with the movable assets they need to enhance productivity and competitiveness. Asset financing is a strategic tool for business expansion, and we are committed to making it more accessible,” he added.
The asset financing solutions on offer will include financing of up to 100 percent for new assets and 80 percent for used assets. Customers will also benefit from a moratorium period of up to 60 days, competitive processing fees and the option to bundle insurance premiums and other costs as part of the loan amount.
The pact targets business owners in logistics, transportation, construction, agriculture, SME and other key sectors of the economy looking to acquire movable assets. Customers seeking personal financing of equipment will also benefit from the flexible terms on offer.
On his part, Mobikey CEO, Ricardo Teixeira said the, partnership with SBM Bank Kenya would make his firm’s movable assets more accessible to businesses and individuals across Kenya.
Their strong presence and solid reputation in the market make them an invaluable ally in our mission to empower enterprises with the assets they need to succeed,” said Teixeira adding that the partnership expands the firm’s capacity to serve customers by combining its expertise in asset financing and SBM Bank’s robust financial solutions.
“We have already seen great synergy in our collaboration, and we eagerly anticipate the transformative impact we can have together in enabling business growth and productivity across Kenya,” said Teixeira.
Asset financing in Kenya has experienced significant growth as more enterprises move to expand operations while reducing the burden of large capital outlays.
