DTB signs 2nd ‘Beba Leo’ deal to boost SMEsNovember 20, 2019
NAIROBI, Kenya, Nov 20 – Diamond Trust Bank and Simba Corporation have signed a partnership to enable Small and Medium Enterprises category acquire new Fuso trucks.
The vehicles will be made available with 100 per cent financing under the bank’s motor vehicle financing scheme dubbed ‘Beba Leo’.
The SMEs will be financed to acquire FUSO trucks with a flexible repayment period that enables customers to gradually pay for them without disrupting their cash flow or working capital. Simba Corporation is the largest and sole representative for the distribution and service for a range Fuso trucks including the new FUSO FI and the popular Fuso Canter.
Kennedy Nyakomitta, General Manager in charge of Asset Finance at DTB, said the scheme was developed in a way that would allow the customer to cater to their most pressing needs 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. Now they can select from a bigger pool the vehicle that best meets their business needs” he added.
“With Beba Leo, the customer will not be required to outlay any cash to get these vehicles. They simply need an approval from DTB after which they can collect the desired vehicle from any Simba Corp distributor across the country,” said Nyakomitta.
He explained 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.
Last week, the bank unveiled a similar partnership with Toyota Kenya to enable SMEs to acquire either the Toyota Hilux or Toyota Rush.
“These deal are expected to spur the economy … according to the Kenyan National Bureau of Statistics, this growth has been supported mostly by increased activity in the sectors of agriculture, manufacturing and construction,” enthused Nyakomitta.
Speaking during the signing ceremony, Simba Corporation Chief Commercial Officer Established brands, Ameet Shroff said, “Customers want to grow their business to produce more and will only entertain solutions that will enable them to do what is best for them. 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.”
“Our new FUSO FI is the best in the market in its category. Its Fuel consumption is exceptional, and it comes with a 4-year warranty,” added Shroff.
Customers will, in addition, receive one-year free Comprehensive insurance cover and enjoy after-sales service from the Simba Corporation outlets across the country. Apart from the high quality service, they will also be assured of genuine parts from the organisation.