Absa And Simba Launch Equipment Financing Partnership In Kenya

Dubai (PlantAndEquipment.com) - Absa Bank Kenya and Simba Corporation have inked a financing deal to provide access to commercial vehicles and agricultural equipment for Kenyan companies and farmers.

Buyers of Simba-supplied trucks, busses, and light commercial vehicles may get financing of up to 95% of the purchase price, with payback terms of up to 72 months. School busses are available for 100% financing for up to 84 months.

Farmers and agribusinesses in the agricultural industry may finance up to 90% of tractors, agricultural equipment, and pick-up trucks over a 60-month payback period.

Simba Corporation's product range includes FUSO and Ashok Leyland trucks, SAME and Mahindra tractors, Mitsubishi and Mahindra pickup trucks, and several passenger car brands.

The cooperation has the potential to boost Kenya's commercial vehicle and agricultural machinery industries by lowering the initial investment necessary to buy new equipment, especially for SMEs, transport operators, and farming firms.