Simba Group, LAPO to enhance asset financing for mobility entrepreneurs

Simba Group, the exclusive distributor of TVS Tricycles (popularly known as Keke) and motorcycles in Nigeria, has entered into a strategic partnership with LAPO Microfinance Bank to unlock wider access to asset-backed financing for hardworking Nigerians who depend on tricycles and motorcycles for their livelihoods.

Renowned for its commitment to quality, durability, fuel efficiency, and a robust nationwide after-sales network, Simba Group is partnering with one of Nigeria’s largest and most trusted microfinance institutions to make vehicle ownership more attainable for individuals, micro-entrepreneurs, and small businesses across the country. Together, both organizations are driving financial inclusion and empowering more Nigerians to own the tools they need to earn, grow, and thrive.

The collaboration brings together Simba Group’s long-standing presence in Nigeria’s mobility sector and LAPO Microfinance Bank’s deep expertise in financial inclusion, with a shared objective of empowering entrepreneurs, small businesses, and individuals operating within the transport and mobility value chain.

Speaking at the signing ceremony, Mr. Laveen Gupta from Simba Group highlighted the company’s deep-rooted commitment to Nigeria and its impact on everyday mobility.

“Simba Group has been in Nigeria for over four decades, and every day, more than 30 million Nigerians interact with Simba mobility products,” he said. “This partnership with LAPO Microfinance Bank reinforces our mission to empower more Nigerians by making reliable mobility solutions more accessible for sustainability and daily livelihoods.”

Under the MoU, LAPO Microfinance Bank will provide asset-backed financing solutions to Riders who want TVS Tricycles (Keke) for income generation and individuals who want TVS Motorcycles (Bike) for personal mobility. The initiative is designed to lower entry barriers for operators by offering structured financing that enables beneficiaries to acquire productive assets while earning sustainable incomes.

The Managing Director/ Chief Executive Officer of LAPO Microfinance Bank, Mrs Cynthia Ikponmwosa, said the partnership aligns with the bank’s longstanding focus on supporting micro-entrepreneurs and economically active Nigerians.

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“LAPO Microfinance Bank is committed to supporting entrepreneurs who depend on TVS Tricycles and Motocycle as a means of livelihood,” she stated. “Through asset backed facilities, we are enabling them to acquire these assets in a structured way, so they can earn, grow, and improve their quality of life.”

Beyond access to finance, the partnership is expected to deepen financial inclusion by offering affordable financing options, competitive interest rates, and repayment tenors tailored to the realities of mobility based businesses. Special attention is also being given to expanding opportunities for women entrepreneurs through the “Simba TVS Queen Riders’ initiative” across the country. The partnership represents a significant step toward strengthening Nigeria’s informal transport sector, which employs millions and plays a critical role in last-mile mobility.

With aligned values around empowerment and impact, the Simba Group–LAPO Microfinance Bank partnership is poised to drive inclusive growth, enhance productivity, and improve livelihoods across Nigeria’s mobility ecosystem.
At Simba TVS, we empower lives, while LAPO improves lives!!! Therefore, the partnership is all about improved and better quality of life for Nigerians.