Absa Bank & Transafrica Motors partner to drive growth in transport and logistics

Absa Bank Kenya has announced a new partnership with Transafrica Motors (TAM), a leading distributor of commercial vehicles. The collaboration aims to empower businesses by providing flexible, accessible financing solutions for fleet expansion and modernization.

Under the terms of the agreement, Absa Bank will provide customers with financing of up to 90% for the acquisition of select truck models. This financial package features an extended repayment period of up to 72 months, designed to lower the barrier to entry for businesses requiring heavy-duty assets without exhausting their working capital.

Speaking at the signing ceremony, Abdi Mohamed, CEO of Absa Bank Kenya, emphasized the strategic timing of the deal.

“Businesses today are navigating rising operating costs and supply chain pressures,” Mohamed stated. “Access to reliable assets directly impacts efficiency and profitability. Structured asset-based financing is essential in helping businesses remain competitive and resilient.”

The partnership is built on a seamless customer experience, integrating the vehicle selection process at Transafrica Motors with Absa’s financial vetting and approval stages. This end-to-end ecosystem is intended to reduce the time between a business identifying a need and deploying a vehicle on the road.

Ali Zubedi, CEO of Transafrica Motors, highlighted the mutual benefits of the deal: “This partnership makes it easier for businesses to access reliable vehicles and affordable financing. Together, we are helping companies scale operations, preserve capital, and drive growth in Kenya’s transport sector.”

Beyond commercial logistics, Absa Bank is broadening its reach into the personal and light-vehicle market. The bank also confirmed a new agreement with Global Motors Centre, offering up to 100% financing for Jetour personal vehicles, also payable over a 72-month duration.

Renato D’souza, Absa Bank Kenya Business Banking Director, noted that these initiatives are part of a larger strategy to stimulate the broader economy. “From asset acquisition to operational efficiency, we are providing integrated solutions that empower our customers to move goods, create jobs, and contribute to economic growth,” D’souza said.

These partnerships mark a significant milestone in Absa’s revamped Asset Finance proposition. By focusing on prompt, simple, and tailored processes, the bank aims to solidify its position as a key driver of Kenya’s economic development.