Kenyan digital bank NCBA signs deal to offer asset financing for EVs
NCBA managing director John Gachora. Image Source: Serrari Group
A bank in the middle of an acquisition doesn’t usually slow down its commercial activity. Kenya’s NCBA is proving that.
The bank has signed a memorandum of understanding (MoU) with Salvador Caetano Kenya Limited, the official distributor of Hyundai, Kia, Ford, and Chery in Kenya, to roll out structured asset financing for both internal combustion and electric vehicles (EVs).
Under the arrangement, buyers of electric models such as the Kia EV6, Hyundai IONIQ 5, and Hyundai Kona EV can access up to 90% financing over a 60-month repayment period. The scheme extends beyond individual buyers to SMEs, corporate fleet operators, logistics firms, and retail customers, effectively turning the bank into a key enabler of Kenya’s shift toward financed electric mobility at scale.
