NCBA, Salvador Caetano Kenya Partner to Boost Access to Premium and Electric Vehicle Financing

By Bruno Aero Family Media Bussiness Journal 

Group Director for Asset Finance and Business Solutions, Lennox Mugabe's and

Salvador Caetano Kenya Limited Managing Director Aurélien Glay

Nairobi, Kenya, June 8, 2026 – NCBA Bank has entered into a strategic partnership with Salvador Caetano Kenya Limited aimed at expanding access to premium vehicles and accelerating the adoption of electric mobility solutions across Kenya.

The partnership, formalized through a Memorandum of Understanding (MoU) signed in Nairobi, introduces a structured Asset Financing Scheme that will enable individuals and businesses to acquire both internal combustion engine (ICE) vehicles and electric vehicles (EVs) through flexible and affordable financing options.

The collaboration brings together NCBA, Kenya’s leading asset finance provider, and Salvador Caetano Kenya Limited, one of East Africa’s foremost automotive distributors, in a move that seeks to address the growing demand for vehicle ownership while supporting the country’s transition towards cleaner and more sustainable transportation.

Under the financing scheme, customers will access up to 100 percent financing for personal vehicles and up to 95 percent financing for commercial units. The package also offers repayment periods of up to 84 months and discounted processing fees, making vehicle ownership more attainable for a wider range of customers.

The partnership covers a broad portfolio of passenger and commercial vehicles distributed by Salvador Caetano Kenya Limited, including globally recognized brands such as Hyundai, Kia, Ford, JMC, and Chery. Customers interested in electric vehicles, including the Kia EV6, Hyundai IONIQ 5, and Hyundai Kona EV, will benefit from financing of up to 90 percent with repayment terms of up to 60 months

Speaking during the signing ceremony, NCBA Group Director for Asset Finance and Business Solutions, Lennox Mugambi, said the partnership demonstrates the bank’s commitment to delivering innovative financing solutions that support economic growth while advancing sustainable development goals.

“At NCBA, we believe in the power of partnerships to ignite belief and empower ambitions. This collaboration with Salvador Caetano Kenya Limited places customers at the centre of practical, flexible financing solutions that make vehicle ownership more accessible and aligned to their needs today and into the future,” said Mugambi.

He noted that NCBA remains the market leader in asset finance, holding a 35.4 percent share of the hire purchase market as of April 2026. According to Mugambi, the bank is focused on supporting individuals, small and medium-sized enterprises (SMEs), and corporate customers through financing solutions that help them achieve their growth ambitions.

The financing scheme targets a diverse customer base, including retail buyers, SMEs, corporate fleet owners, logistics operators, and organizations seeking to modernize or transition their fleets to environmentally friendly alternatives.

Salvador Caetano Kenya Limited Managing Director Aurélien Glay said the partnership will significantly improve affordability and convenience for customers by integrating financing directly into the vehicle purchasing process.

“Our partnership with NCBA marks an important milestone in making vehicle ownership more accessible to customers across kenya. 

By integrating competitive financing solutions directly into the customer journey, we are creating a seamless experience for both retail and business customers seeking reliable, premium, and sustainable mobility solutions,” said Glay.

He added that the company is particularly encouraged by the growing interest in electric vehicles and sees the partnership as an opportunity to support Kenya’s gradual shift toward greener transportation options.

Industry observers note that Kenya's automotive sector is witnessing increasing demand for flexible financing arrangements as consumers and businesses seek cost-effective ways to acquire vehicles amid evolving economic conditions. 

At the same time, growing awareness of environmental sustainability and government efforts to encourage green energy adoption are driving interest in electric vehicles.

The NCBA-Salvador Caetano partnership is expected to play a significant role in addressing both trends by providing customers with affordable financing solutions while supporting the expansion of cleaner mobility technologies

The agreement also strengthens NCBA’s dealer financing ecosystem and reinforces the bank’s strategy of offering integrated end-to-end financing solutions at the point of sale. By streamlining access to credit and reducing barriers to vehicle ownership, the two institutions aim to contribute to economic growth, business expansion, and the modernization of Kenya’s transport sector.

As Kenya continues to embrace innovation in mobility and transportation, the partnership is expected to provide a timely boost to both vehicle ownership and the adoption of electric vehicles, helping shape the future of sustainable transport in the country.