Absa Bank Kenya has partnered with commercial vehicle distributor Transafrica Motors in a deal aimed at helping businesses expand their transport, logistics and mobility operations.
The partnership, under Absa’s revamped Asset Finance proposition, will see the bank provide tailored financial solutions to make commercial vehicle acquisition easier, more affordable, and aligned to business needs.
Under the arrangement, customers will be eligible for financing of up to 90 percent, repayable over a period of 72 months, to support the purchase of select truck models.
Speaking during the signing ceremony, Absa Bank Kenya Chief Executive Officer Abdi Mohamed said the partnership comes at a time when businesses are grappling with rising operating costs, global market volatility and persistent supply chain disruptions.
He added that structured and flexible asset-based financing is key to helping businesses remain competitive, resilient and positioned for growth.
“Access to reliable and productive assets is no longer just about expansion, it directly impacts efficiency, speed to market, and profitability. That is why structured and flexible asset based financing is so important in helping businesses remain competitive, resilient, and positioned for growth,” Mr. Mohammed remarked.
The partnership is expected to benefit businesses seeking to upgrade or expand their fleets by offering flexible financing that preserves working capital and reduces the burden of heavy upfront payments.
Customers will also receive end-to-end support, from vehicle selection to financing and deployment, through coordinated engagement between Absa Bank and Transafrica Motors.
Transafrica Motors Chief Executive Officer Ali Zubedi said the deal will make it easier for businesses to access reliable commercial vehicles alongside affordable financing options.
“Together, we are helping companies scale operations, preserve capital and drive growth in Kenya’s transport and logistics sector,” Mr Zubedi said.
Absa Bank Kenya Business Banking Director Renato D’souza noted that the partnership is designed to go beyond financing by building an ecosystem that supports customers throughout the asset acquisition process.
“This is about building an ecosystem that supports our customers end to end. From asset acquisition to operational efficiency, we are providing integrated solutions that empower them to move goods, create jobs and contribute to economic growth,” Mr D’souza said.
He added that the bank aims to ensure customers can access vehicle financing through a simple, prompt, and tailored process.
Separately, Absa Bank Kenya also signed an agreement with Global Motors Centre to facilitate the acquisition of Jetour personal vehicles, offering up to 100 percent financing repayable over 72 months.
