NAIROBI, Kenya Nov 18 – Absa Bank Thursday signed an Sh.1.2 billion leasing deal with Avenue Lease and rentals to lease 240 single cab Ford Rangers to the National Police Service (NPS) in a move meant to support the Government’s ongoing leasing initiative.
The Kenyan government had established the motor vehicle leasing program in 2013, as part of security sector reforms aimed at increasing NPS’s operational and logistical capacity and capability.
In partnership with the Cooper Motor Corporation (CMC Motors) Limited, the police service would receive the vehicles for a period of four years, during which CMC would service and maintain the cars.
Speaking during the handover ceremony, Absa Bank’s Credit Director, Christine Mwai said the agreement would support the local sector and increase demand for locally assembled vehicles.
“We are excited to be the financing partner in this initiative as it not only speaks to our purpose of bringing possibilities to life but also supports the Buy Kenya Build Kenya agenda seeing that these vehicles are assembled locally,” Mwai said.
The first 100 units were delivered to NPS today, with the remaining 140 units anticipated in December. This makes it the second time Absa has participated in the government leasing scheme, the first time being in 2018 where it donated 100 vehicles to NPS.
“The Police Leasing program has had a catalytic effect on the economy through creating both horizontal and vertical multiplier effects, in addition to enhancing security leading to a conducive business environment. We are pleased that the government has entrusted us with such a significant transaction, which reflects our expanding reputation as a locally owned firm,” Avenue Lease Chief Operating Officer (COO) Rutto Kipng’eno added.
