Equity and CFAO Mobility court schools with 105% bus financing plan
Equity Bank Kenya Commercial Director David Bagenda (right) and CFAO Mobility Kenya Deputy Managing Director Joshua Anya during the signing of a partnership between the two organizations to finance educational institutions and other customers in accessing up to 105% vehicle acquisition financing, covering the full cost, including insurance and related expenses. The partnership was launched at the CFAO Mobility Head Office along Uhuru Highway in Nairobi.
Auto dealer CFAO Mobility Kenya has partnered with lender Equity Bank to provide up to 105 percent financing to vehicle buyers, a bold plan that targets schools and institutions, among similar entities.
In an update on Wednesday, the two organizations said the first initiative under this partnership aims at rolling-out a school bus and van vehicle financing programme, offering buyers access funding for the entire cost of vehicle acquisition, including insurance and associated expenses.
Related
SINOTRUCK powers CFAO Motors to 59% market share
CFAO Motors Kenya evolves into CFAO Mobility Kenya
Participating borrowers will be subjected to repayment terms of up to 84 months. According to CFAO Mobility, the scheme will cover purchase of Toyota Hiace Van, Mercedes Benz Bus 917 and Hino FC 500 buses.
Additionally, participating educational institutions will benefit from structured termly repayment terms aligned with the school academic calendar for convenience, after-sales support, and training packages to ensure proper usage and maintenance.
Safety features
The vehicles have been selected because of their proven performance, safety features designed with passenger comfort and operational efficiency in mind.
“We are bringing our world-class mobility solutions and unmatched after sales support to ensure the vehicles are safe, durable, and fit for the education environment. This partnership with Equity Bank will empower schools to provide dependable transport services, thereby fostering improved enrolment and enriched educational experiences," stated CFAO Mobility Kenya Deputy Managing Director, Joshua Anya.
This partnership comes at a time when school transport safety and reliability remain a top concern for parents and players in the education sector.
By eliminating the upfront capital burden for schools, learning institutions will now be able invest in the safety, dignity, and efficiency of learner mobility without much hurdle, noted Equity Bank.
“This partnership goes beyond financing, it’s about enabling access to education through dignified and dependable mobility. By offering up to 105 percent asset financing with flexible repayment plans, we are easing the financial burden on schools and helping them invest in safer, more efficient transport solutions that can positively influence student performance and school operations,” stated Equity Bank Kenya Managing Director Moses Nyabanda.
