NCBA,Mobikey to bolster asset financing for Kenyan businesses

NCBA Bank Kenya has forged a strategic partnership with Mobikey Truck & Bus Ltd to provide tailored asset financing solutions for MAN Trucks, MAN Buses, Randon Trailers, and Hyundai Construction and Mining Equipment, aiming to address liquidity challenges and spur economic growth.

The partnership offers up to 100% financing for new assets and 80% for used ones, with a 60-day moratorium, competitive fees, and bundled insurance options. Announced on August 4, the deal targets businesses in logistics, construction, agriculture, and SMEs, as well as individuals seeking equipment financing.

NCBA Group Director of Asset Finance and Business Solutions, Lennox Mugambi, highlighted the timely collaboration amid Kenya’s push for economic recovery. “Partnering with Mobikey allows us to offer unmatched financing options, enabling businesses to scale and achieve their financial goals,” Mugambi said during the signing ceremony. He noted that the 2025 Economic Survey by the Kenya National Bureau of Statistics reported declines in construction (from 7.1% to 6.3% of GDP, 2020–2024) and land transport (from 11.4% to 10.8%, 2022–2024), exacerbated by liquidity issues, with over 51% of government pending bills tied to construction, per the 2024 Auditor General’s Report.

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Mobikey CEO Ricardo Teixeira expressed enthusiasm for the partnership, stating, “NCBA’s strong market presence enhances our mission to make assets accessible, empowering Kenyan businesses and individuals.” The collaboration aims to counter capital access barriers, fostering productivity in key sectors.

By offering flexible financing, NCBA and Mobikey aim to drive investment in critical industries, supporting Kenya’s economic growth and addressing the challenges highlighted in recent economic reports.