Absa Bank Kenya and Simba Corporation have signed a partnership to expand access to vehicle and agricultural equipment financing solutions for individuals and businesses.

In a market update on Thursday, the firms said the deal leverages Simba Corporation's mobility offerings alongside Absa's revamped Asset-Based Finance (ABF 2.0) proposition to provide clients with flexible and competitive financing solutions.

Speaking during the signing ceremony, Absa Bank Kenya Director of Business Banking, Renato D'Souza, said: "For many businesses, particularly SMEs, access to affordable and flexible financing remains a key barrier to acquiring the vehicles and equipment they need to grow, improve efficiency, and compete effectively. Through this partnership, we are addressing that challenge by providing clients with easier access to tailored asset financing solutions, faster turnaround times, and greater flexibility to invest in productive assets."

Under the agreement, businesses will have access to financing options for a range of commercial vehicles, including trucks, buses, light commercial vehicles, and fleet solutions. Customers will be able to access financing of up to 95 per cent, repayable up to 72 months. 

They will also be able to access 100 per cent financing for school buses, repayable over 84 months. These financing options will support businesses seeking to expand their operations, improve logistics efficiency, and strengthen their transportation capabilities. SMEs and large enterprises will also benefit from tailored financing solutions designed to support their business and cash flow needs.

On his part, Simba Corporation Executive Director Suraj Shah said “The partnership will make vehicle ownership more accessible for individuals through attractive financing packages and flexible repayment options. Individuals and families will be able to access financing of up to 95 per cent, repayable over 72 months, to purchase quality passenger vehicles.

For the agricultural sector, the partnership will support the modernization of Kenya's agriculture industry through financing for tractors, farm machinery, pick-ups, and other agricultural mobility solutions. These solutions are intended to enhance productivity, promote mechanized farming, and improve efficiency across the agricultural value chain. Customers in this sector will be able to access financing of up to 90 per cent, repayable over 60 months.”

Absa Bank Kenya recently unveiled a revamped asset financing proposition aimed at deploying KES 100 billion over the next three years to businesses and individuals. The enhanced offering is designed to improve access to productive assets and support growth across key sectors of the Kenyan economy, including manufacturing, trade and logistics, infrastructure, healthcare, and education.

The partnership with Simba Corporation forms part of this broader proposition, expanding customers' access to financing for vehicles and equipment that can enhance productivity, strengthen business operations, and unlock new growth opportunities.

"As part of our revamped Asset-Based Finance (ABF) 2.0 proposition, launched last quarter, this collaboration reinforces our commitment to empowering SMEs and businesses across Kenya with the tools they need to scale, create jobs, and contribute to economic growth," added Renato.