NCBA has launched enhanced Public Service Vehicle (PSV) Asset Finance terms as part of its commitment to supporting Kenya’s transport sector. This new package is designed to empower PSV SACCOs, established transport companies, and individual SACCO members with competitive and flexible financing.
The updated terms will provide financing of up to 90% for a repayment period of up to 60 months for PSV operators and established transport companies. Individual SACCO members can now access up to 80% financing with a repayment period of up to 48 months.
“We recognize that many PSV operators run sustainable businesses but face barriers in accessing credit due to structural issues,” said Lennox Mugambi, NCBA Group Director for Asset Finance and Business Solutions. “By removing these barriers, we’re enabling more operators to grow their fleets confidently with flexible and affordable terms.”
Customers are no longer required to provide a formal SACCO guarantee for their loan application or to pledge their SACCO share contributions as collateral. Additionally, customers now have the freedom to choose their own insurance agents.
NCBA has also introduced Komiut, a digital fare collection platform. This new service provides PSV operators with a simple way to collect fares, track revenue in real time, and strengthen their financial records. By digitizing daily collections, operators can minimize the risks associated with cash handling, improve accountability, and unlock new growth opportunities through data-backed credit profiling.
“At NCBA, we are committed to ensuring our customers remain future-ready through innovative technology,” said Sally Chege, NCBA Director of Transactional Banking. “By providing this payment solution, we will ensure that our customers can track their matatu and bus income, giving them more control over their finances and helping them grow sustainably.”