NCBA Bank has introduced enhanced Public Service Vehicle (PSV) asset financing and insurance solutions aimed at strengthening Kenya’s transport sector.
The new package offers PSV operators and established transport companies up to 90 percent financing with repayment periods of up to 60 months. Individual SACCO members will access up to 80 percent financing with tenors of up to 48 months. NCBA, which holds over one-third of the asset finance market in Kenya, also scrapped requirements for SACCO guarantees and pledged shares as collateral.
In a move to further empower operators, NCBA launched Komiut, a digital fare collection platform that enables cashless payments, real-time revenue tracking, and improved financial records. The platform is expected to reduce risks linked to cash handling and improve operators’ access to credit.
“By removing barriers to credit and introducing innovative digital solutions, we are enabling PSV operators to modernise and grow sustainably,” said Lennox Mugambi, NCBA Group Director of Asset Finance and Business Solutions.
The bank noted that the financing and digital solutions will help SACCOs, companies, and individual members strengthen their operations, enhance accountability, and embrace future-ready technologies in public transport.
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