NCBA Asset Finance has officially handed over a new fleet of Isuzu NQR buses to City Shuttle Sacco. The partnership highlights a growing trend of financial institutions playing a role in the modernization of Public Service Vehicle (PSV) infrastructure in East Africa.
The delivery of five 33-seater buses marks a strategic expansion for Crown Premium Limited, an operator under the City Shuttle umbrella. These vehicles are slated for deployment across Nairobi’s highest-traffic corridors, including Mombasa Road, JKIA, and Utawala.
NCBA Asset Financing framework is designed to lower the barrier to entry for transport entrepreneurs, the agreement allows operators to finance up to 90% of a vehicle’s value. Key features of the facility include:
- Extended Repayment: Up to 60 months (5 years) to ensure sustainable cash flow.
- Grace Period: A 30-day window before the first installment, allowing vehicles to begin generating revenue immediately.
- Inclusivity: Availability for large firms, SACCOs, and individual members alike.
“We want to be the partner that banks on the belief of our clients and provides the support to empower their ambitions,” said James Karinga, Head of NCBA Asset Finance and IPF. “As our customers grow, NCBA promises to be right there to support them in meeting both business and personal needs.”
For City Shuttle Sacco, this latest acquisition is more than just a business transaction; it is the continuation of a decades-long relationship. Michael Kariuki, Chairman of City Shuttle SACCO, reflected on his 41-year career journey and the role the bank has played in his success.
“NCBA has supported me at every stage,” Kariuki noted during the launch. “Each time I walked in with an ambitious goal, they found a way to make it possible. Our fleet has grown from 17 to 22 buses thanks to NCBA and their trusted dealer partners.”