This archive report was first published on 15 June 2021.
On June 15, 2021, NCBA Bank Kenya PLC and DT Dobie announced a six-month partnership to jointly promote the sale of Mercedes Benz and Volkswagen brands of vehicles.
Under the partnership, NCBA will provide up to 95% financing with a loan repayment period of up to six years.
The partnership also offers a discounted loan-processing fee of 2% for new customers and 1% for existing customers, with an interest rate of 13% on a reducing balance basis.
NCBA Insurance Agency will provide an all-inclusive insurance rate of 3.25% for the Mercedes Benz School bus, while customers purchasing personal vehicles will enjoy an all-inclusive insurance rate of 3.5%.
According to Lennox Mugambi, Group Director, Asset Finance and Business Solutions, NCBA: “We are keen on supporting entrepreneurs to rebuild their businesses through asset financing. We are coming off a hard-hitting 2020 that was characterized by the pandemic that affected many sectors. We want to encourage business owners to take advantage of this partnership to bolster their enterprises through asset financing.”
Chris Ndala, Managing Director, DT Dobie, noted that the Volkswagen Polo Vivo and Tiguan Allspace have proven popular with passenger vehicle buyers, offering features such as a powerful 2.0-liter engine and 4-Motion all-wheel drive.
