This archive report was first published on 21 November 2019.
On November 21, 2019, Diamond Trust Bank (DTB) and Simba Corporation signed a partnership to empower small and medium enterprises (SMEs) in acquiring new Fuso trucks.
The partnership enables SMEs to acquire Fuso trucks with 100% financing under DTB's motor vehicle financing scheme, dubbed 'Beba Leo'. The scheme offers a flexible repayment period, allowing customers to gradually pay for the trucks without disrupting their cash flow or working capital.
Empowering SMEs ¶
Simba Corporation is the largest and sole representative for the distribution and service of a range of Fuso trucks, including the new FUSO FI and the popular Fuso Canter.
According to Mr. Kennedy Nyakomitta, General Manager in charge of Asset Finance at DTB, the 'Beba Leo' scheme was developed to cater to the pressing needs of SMEs without any capital outlay.
"This partnership cements our commitment to grow the SME sector. Our decision to bring on board Simba Corporation was inspired by our aim to empower SMEs by giving them choice," Mr. Nyakomitta said.
Mr. Nyakomitta added that the scheme is one of several arrangements that the bank has to support the SME sector, who are evaluated on the basis of their financial track record and cash flows on their ability to pay.
Speaking during the signing ceremony, Simba Corporation's Chief Commercial Officer, Ameet Shroff, said customers are seeking to grow their business to produce more.
"Our trucks are the best in the market, and we would like all customers to have access to purchase them and have a comfortable payment period," Mr. Shroff said.
