NCBA has launched an upgraded Public Service Vehicle (PSV) Asset Finance package to transform Kenya’s transport sector by offering more inclusive, flexible and competitive financing solutions to PSV SACCOs, established transport companies and individual SACCO members.

Key Highlights of the New Financing Package

Under the new terms, NCBA now offers up to 90% financing for PSV operators and established transport companies with repayment periods of up to 60 months. For individual SACCO members, financing of up to 80% is available with repayment periods of up to 48 months. This is a further boost to NCBA’s position as market leader in asset finance where the bank already has more than a third of the Kenyan market share.

Empowering PSV Operators and SACCO Members

Mr. Lennox Mugambi, NCBA’s Group Director of Asset Finance and Business Solutions, said the bank is committed to supporting Kenya’s transport sector. “Many PSV operators are running sustainable businesses but face challenges accessing credit. By removing these barriers we are enabling them to grow their fleets with flexible and affordable terms,” Mugambi said.

Removal of Key Barriers for Individual SACCO Members

NCBA has also removed two key conditions that previously limited access to credit for individual PSV members. Now customers will no longer need to provide a formal SACCO guarantee for their loan application or pledge their SACCO share contribution as collateral. These changes will make credit more accessible to individual operators and promote financial inclusion.

Additionally, NCBA has given more flexibility in the insurance process. Customers can now choose insurance providers from a wider pool of agents which means better cost efficiency and control over their financing options.

Introducing Komiut: Digital Fare Collection for PSV Operators

As part of its effort to modernize the transport sector, NCBA has also launched Komiut, a digital fare collection platform. This platform provides PSV operators with a secure, transparent and real-time way to track fares and manage revenue.

Komiut will help minimize cash handling risks, enhance financial accountability and data-backed credit profiling for operators. By digitizing fare collections, operators can now make informed decisions and unlock more opportunities for growth. Sally Chege, NCBA’s Director of Transactional Banking said: “By providing this payment solution we help our customers track their income from matatus and buses, so they have more control and can plan their finances better.”

Partnering for a Sustainable Transport Future

With Safetek Systems Limited, NCBA is working on solutions to decongest termini and improve efficiency of Kenya’s transport systems. We are developing structured queuing systems and digital fleet management solutions to improve scheduling and streamline operations.

Mr. Samuel Ndegwa, Director of Safetek Systems, spoke about the potential impact of these innovations: “Together with NCBA, we are empowering PSV operators to adopt cashless fare collection, strengthen financial transparency, and access real-time data for better decision-making. Our aim is to build a more efficient and sustainable transport system for Kenya’s future.”

The Future of Mobility in Kenya

With these new financing solutions, NCBA is not only supporting the modernization of fleets but also helping to digitize the transport sector, making it more efficient, transparent, and poised for long-term growth. This collaboration represents a critical step in shaping the future of mobility in Kenya.