NAIROBI, Kenya, Dec 10 – The Toyota Kenya company through its Hino Division, today signed a partnership agreement with National Bank (NBK) that will allow customers to get up to 100 per cent financing, payable within sixty months on Hino trucks and buses.
According to Managing Director Toyota Kenya Arvinder Reel, the strategic deal is expected to boost the SME sector by giving entrepreneurs affordable access to high end trucks and buses for their businesses.
His sentiments were echoed by National bank Managing Director Paul Russo who said the asset financing product is designed to support existing businesses in the transport industry by providing relevant financial solutions.
“We welcome the financing partnership with National Bank as we endeavor to offer our Hino customers an easier way to acquire assets that will support their business especially in the prevailing economic conditions. Hino trucks are the best-selling in Japan, and we have transferred the winning technology and combining it with the knowledge of the local terrain in producing a truck that runs efficiently, Reel said”
According to Russo, NBK will be giving customers who qualify for the financing a 60-day repayment holiday.
Additionally, customers who purchase Hino trucks and buses under the agreement terms will receive up to Sh300,000 in working capital from the bank, payable within 12 months.
“This strategic partnership highlights our commitment to consistently deliver value-added financial services to our customers, particularly in the SME segment. Our plan is to support businesses across industries to thrive, create jobs and unlock other economic benefits,” said Russo.
Hino trucks, which are assembled locally, have been optimized with a quality chassis, power train and suspension system to handle the local harsh terrains, and provide superior comfort for both the driver and the passengers.
“The two models, the Hino 300 and Hino 500 FC trucks have particularly done well in the market with customers identifying the engine as being key since it offers the best fuel efficiency in the market and low emissions,” Reel added.