Gulf African Bank Kenya and DT Dobie have sealed a deal that will be offering Shari’ah compliant Financing for their commercial vehicles by the bank. This financing offer applies to both existing Gulf African Bank clients and new clients, including those referred by the vehicle distributor. Under the agreement, registered SMEs and corporates will be able to acquire Mercedes Benz trucks and buses and Hyundai light trucks with the financing of up to 90 percent for a maximum tenor of 60 months.
Speaking during the signoff ceremony, Gulf African Bank’s Chief Executive Officer, Anuj Mediratta
said, “As a leading Shari’ah compliant bank, we are keen on developing joint, combined, or complementary programs to ensure our customers unlock their full potential and participate optimally in the sectors they are in. We encourage all Kenyans who are running registered businesses to tap into this partnership and take advantage of our financing package to maintain and expand their businesses through DT Dobie’s heavy and light commercial trucks. We are keen on easing the financial load of institutions by also offering value additions like termly repayments for schools to help them manage their cash flows”.
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Chris Ndala, the Managing Director of DT Dobie said, “Assets drive up production and value of businesses. The Mercedes and Hyundai trucks we are offering under this financing arrangement are affordable, reliable, and durable. We have a range of midsize, large light-duty, and large heavy-duty trucks making them ideal for any corporate business or SME in need of high-performance vehicles. Customers will enjoy a three-year warranty, guaranteed fuel efficiency, and configurations that make them the best load carriers for any terrain locally and regionally”.
Sarfraz Premji the Sales Manager for Hyundai Trucks added, “I am very happy to have the asset financing support provided by Gulf Africa Bank to help us meet the growing demand for Hyundai light trucks which have capacities of five, seven, and nine tonnes. We are experiencing increasing interest in light commercial vehicles by fast moving goods distributors, bakeries, builders, manufacturing companies, and transporters.”
Mercedes Benz and Hyundai are leaders in their respective auto segments and are known for their durability. DT Dobie offers its buyers a scheduled maintenance program to ensure their customer’s vehicles perform optimally. As a financial intermediary, Gulf African Bank continues to play a pivotal role in supporting the growth of SMEs, in this case strengthening their logistics preparedness.