SBM Bank Kenya and Mobikey, a leading East African asset financing company, have joined forces to provide Kenyan businesses with a powerful tool to fuel their growth.

Through a strategic partnership solidified by a Memorandum of Understanding (MoU), the collaboration aims to unlock comprehensive asset financing solutions for businesses across the nation.

This exciting new pact will empower businesses in various sectors, including logistics, transportation, construction, and agriculture, to acquire essential movable assets – from brand new MAN trucks and buses to cutting-edge Powertrac and Hyundai construction equipment.

The financing options offered are nothing short of impressive, with customers gaining access to up to 100 per cent financing for new assets and a substantial 80 per cent for used ones.

Eric Wambua, Director of Corporate Assets at SBM Bank Kenya, highlighted the timeliness of this partnership, noting its potential impact on the nation's economic ambitions.

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"We are proud to partner with Mobikey, a respected player in the movable assets space in East Africa," Wambua remarked

"This collaboration will allow us to offer our customers an unrivalled range of asset financing options to grow and expand their operations as they pursue their financial goals,"

Wambua went on to elaborate on the partnership's significance for businesses, particularly SMEs and large commercial enterprises.

While acknowledging the critical role access to capital plays in driving business productivity and fostering sustained growth,  Wambua noted the flexible financing options available through Mobikey would encourage increased investments.

This partnership goes beyond simply offering financing.

The newly launched asset financing solutions offer a range of benefits, including:

 • Up to 100 per cent financing for new assets and 80 per cent for used assets

 • A moratorium period of up to 60 days

 • Competitive processing fees

 • The option to bundle insurance premiums and other costs into the loan amount.

"With this partnership, we can empower businesses across key sectors of the economy with the movable assets they need to enhance productivity and competitiveness," Wambua added, reiterating the strategic role asset financing plays in business expansion.

Sharing his enthusiasm, Ricardo Teixeira, CEO of Mobikey, expressed his delight at partnering with SBM Bank 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," Teixeira stated.

Teixeira further emphasized the synergy created by this collaboration.

"This partnership expands our capacity to serve customers, combining our expertise in asset financing with SBM Bank's robust financial solutions," he said, expressing optimism about the transformative impact this partnership will have on propelling business growth and productivity across Kenya.

The Kenyan business landscape is witnessing a surge in asset financing, with enterprises increasingly recognizing its advantages.

This innovative partnership between SBM Bank Kenya and Mobikey provides a compelling solution, empowering businesses to streamline capital expenditure while acquiring the necessary assets to thrive in today's dynamic market.