The Co-operative Bank is financing up to 60 brand new Forward Travellers Sacco buses. The Forward Travellers Sacco buses are worth Sh. 313.5 million. This week, Co-op Bank joined the Sacco as they released 22 of the 60 brand new buses for service within Nairobi.

Speaking at the function before flag-off, Co-op Bank’s Head of Transport and Housing Cooperatives, Alex Mwanthi, recognized the Sacco as one of the bank’s key customers in the transport sector and commended them for the ongoing expansion and modernization of their fleet.

This financing is the latest in a string of mega financing that Co-op is facilitating in the transportation industry.

For instance, the bank has invested more than Sh. 10 billion in the last few years to finance over 2,000 matatus to PSV Saccos and companies through leasing and direct hire purchase arrangements.

The Co-op Bank, which commands a 70 per cent market share in the transport sector, finances PSV SACCOs and companies to acquire both new and used PSVs, through both asset finance and leasing options.

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In May this year, Nicco Movers Ltd Sacco acquired 30 brand new buses in a financing deal with the Co-op Bank. The Sacco received the second batch of 8 out of the 30 buses that have been financed by Co-op Bank from Thika Motor Dealers.

The financing package being offered by the bank is proving its affordability and convenience for some of the biggest matatu Saccos in the country. The lender has also former strategic partnerships with key motor assemblers and dealers to enhance customer satisfaction.

For instance, not so long ago, Metrotrans Sacco, one of the leading PSV transport Saccos operating in Nairobi, received 45 new buses at Isuzu East Africa with financing from Co-op Bank.

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In the same vein, Co-op Bank is the force behind the financing scheme that provides a ninety-five per cent financing option for Isuzu N-series, Isuzu F-series and Isuzu pick-ups TFS and TFR Series in a partnership with Isuzu East Africa.

The bank is also giving schools acquiring school buses a one-term moratorium when they purchase the buses, with repayment extended to 72 months on a termly basis, which adds up to 18 terms at zero processing fee.