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NCBA Bank Kenya PLC has signed a partnership deal with Tata Africa Holdings to allow customers to acquire a range of commercial Tata vehicles with up to 95% financing for up to 60 months
In addition, buyers will also enjoy low deposits, low monthly installments plus competitive insurance rates when purchasing vehicles from Tata Africa and its authorised dealer network across the country.
Lennox Mugambi, Ag. group director of asset finance and business solutions at NCBA Bank, commented, “Businesses in Kenya have been severely impacted by the Covid-19 outbreak and so this partnership comes at an opportune time and will go a long way in supporting businesses in the construction and distribution sector. We are encouraging businesses to take advantage of this partnership to bolster their economic livelihoods.”
According to the 2020 Economic Survey by the Kenya National Bureau of Statistics, the construction sector expanded by 6.4% in 2019 with an upward growth trajectory projected in the following year, Covid-19 pandemic effects notwithstanding.
For his part, Kamal Rohira, auto business head at Tata Africa Holdings, added, “The partnership targets individuals, small-to-medium sized companies and large commercial businesses that have been hugely impacted by the Covid-19 pandemic. Currently, Tata has an active population of around 15,000 commercial vehicles in the country, which is served by 11 service stations and 23 part retailers. In this partnership, we go hand in hand with customers in making Tata commercial vehicles very affordable”
Tata Kenya has recently opened Tata Authorized Service Stations (TASS) in Eldoret & Kisumu a move aimed at ensuring customers can get access to specialised service post-purchase, given the rising demand for vehicles used in construction across the country.
The pact between NCBA Bank and Tata Africa Holdings comes into effect immediately and will last until 3 September 2021.