NCBA Bank has finalized a strategic Memorandum of Understanding (MoU) with Salvador Caetano Kenya Limited. The collaboration establishes a structured Asset Financing Scheme designed to significantly expand access to both premium internal combustion engine (ICE) vehicles and electric vehicles (EVs) for personal and commercial use.
The newly unveiled scheme addresses traditional barriers to vehicle ownership by offering competitive, flexible terms tailored to diverse consumer needs:
- Personal ICE Vehicles: Up to 100% financing.
- Commercial Units: Up to 95% financing.
- Extended Repayment: Flexible terms stretching up to 84 months, coupled with discounted processing fees.
Through this joint venture, buyers purchasing vehicles from Salvador Caetano Kenya’s extensive portfolio will gain streamlined access to globally recognized brands, including Hyundai, Kia, Ford, JMC, and Chery.
The partnership introduces specialized financing for flagship EV models, including the KIA EV6, Hyundai IONIQ 5, and Hyundai Kona EV. Customers opting for these eco-friendly models can secure:
- Up to 90% financing.
- A dedicated repayment period of up to 60 months.
“At NCBA, we believe in the power of partnerships to ignite belief and empower ambitions,” said Lennox Mugambi, NCBA Group Director, Asset Finance & Business Solutions. “This collaboration places customers at the center of practical, flexible financing solutions that make vehicle ownership more accessible and aligned to their needs today and into the future.”
Echoing these sentiments, Aurélien Glay, Managing Director of Salvador Caetano Kenya Limited, emphasized the convenience the partnership brings directly to the showroom floor.
“Our partnership with NCBA marks an important milestone in making vehicle ownership more accessible,” Glay stated. “By integrating competitive financing solutions directly into the customer journey, we are creating a seamless experience for both retail and business customers seeking reliable, premium, and sustainable mobility solutions. We are particularly excited about supporting the adoption of electric vehicles as the market steadily evolves towards greener transportation.”