NAIROBI, Kenya, July 16 – NCBA Bank and equipment distributor Car & General have signed an asset financing partnership targeting individuals and small businesses seeking access to affordable equipment and machinery.
The deal will provide up to 90% financing with repayment periods of up to 60 months, and includes a 60-day grace period post-delivery, allowing users to begin operating their equipment before making initial payments.
The partners say the arrangement aims to boost access to modern machinery for sectors such as construction, agriculture, transport, and manufacturing — areas where access to affordable credit remains a challenge.
“This collaboration is not just about financing, it’s about improving access to high-quality tools that power businesses,” said Lennox Mugambi, NCBA Group Director of Asset Finance and Business Solutions.
NCBA noted that Kenya’s construction sector is under pressure, with cement production falling from 9.19 million tonnes in 2023 to 8.5 million tonnes in 2024, and credit to the sector declining from Sh602.7 billion to Sh528 billion. However, the value of approved building plans in Nairobi rose to Sh221.6 billion in 2024, suggesting underlying investor confidence.
Car & General CEO Vijay Gidoomal said the initiative is designed to help SMEs and MSMEs scale their operations without heavy upfront capital or collateral requirements.
The partnership will leverage NCBA’s lending capabilities and Car & General’s distribution footprint to widen access to key business assets, particularly in underserved segments of the market.
