Stanbic Bank Kenya and Simba Corporation have deepened their partnership with the launch of a tailored asset financing programme designed to make vehicle and equipment ownership more accessible to businesses and individual customers amid rising economic pressures.
The partnership will provide customers with financing of up to 100 percent of the asset value, zero facility fees, risk-based pricing, and a 60-day repayment moratorium for business customers, positioning the offering among the most competitive asset finance solutions in the market.
The move comes at a time when businesses are facing increased operating costs driven by higher fuel prices, taxation pressures, and tighter cash flows, prompting growing demand for flexible financing solutions that support expansion without straining working capital.
Speaking during the partnership signing ceremony, Stanbic Bank East Africa Head of Business and Commercial Banking Florence Wanja said the collaboration reflects the bank’s commitment to enabling customers to access productive assets while supporting business growth across key sectors of the economy.
“Businesses today require financing solutions that reflect their realities and growth ambitions. Through this partnership, we are making it easier for customers to acquire vehicles, agricultural equipment, power solutions and other productive assets while preserving cash flow and supporting long-term sustainability,” she said.
Under the arrangement, customers will benefit from financing of up to 100 percent of the asset value, subject to credit evaluation, while enjoying risk-based pricing that rewards customers with strong credit profiles through more favourable financing terms. Stanbic Bank will also continue offering zero facility fees and unsecured financing of up to KSh5 million for qualifying customers.
In a further boost for businesses, the bank has introduced a 60-day repayment moratorium, allowing customers additional time before making their first instalment and enabling them to deploy acquired assets to generate revenue before loan repayments commence.
The partnership builds on a long-standing relationship between the two organisations and is expected to unlock opportunities across Simba Corporation’s diverse portfolio, including
commercial and passenger vehicles, agricultural equipment, power solutions and hospitality-related investments.
Simba Corporation Executive Director Adil Popat said the partnership would help accelerate access to quality mobility and business solutions while supporting the country’s economic growth agenda.
“We are seeing strong demand from businesses seeking reliable assets that can improve productivity and drive growth. By combining Simba Corporation’s portfolio with Stanbic Bank’s financing expertise, we are creating a compelling value proposition that makes asset ownership more accessible and affordable.” Popat explained.
As part of its growth strategy, Simba Corporation is also introducing a new range of MG vehicles to the Kenyan market, including electric vehicle models that will expand consumer choice and support the country’s transition towards cleaner and more sustainable mobility solutions. The addition of electric vehicles comes as demand for environmentally sustainable transport alternatives continues to rise among both corporate and individual consumers.
Beyond the automotive sector, the partnership is expected to support growth in agriculture through financing solutions for Mahindra and SAME tractors, while also facilitating investment in power backup systems through Colt Power Solutions, helping businesses improve resilience and operational continuity.
Wanja noted that small and medium-sized enterprises remain central to Kenya’s economic growth and that access to affordable financing remains one of the most critical enablers of business expansion. The Regional Head of Business and Commercial Banking said the bank will continue developing customer-centred solutions that address evolving market needs while strengthening partnerships that support enterprise growth and economic development.
The collaboration underscores the growing role of strategic partnerships between financial institutions and industry players in expanding access to productive assets, improving business competitiveness and driving economic transformation across the country.