Audio By Vocalize
NCBA Group is expanding its asset financing solutions to cover emerging sectors such as electric vehicles and solar energy as businesses and individuals increasingly turn to financing to acquire equipment, machinery and other productive assets.
The bank said it maintained a 30 per cent share of Kenya’s asset finance market in the first half of 2026, as it continued to support customers across agriculture and agribusiness, trade, transport and logistics, manufacturing and services.
The lender’s asset finance expansion comes as businesses seek alternative ways of acquiring vehicles, machinery and equipment without having to meet the full cost upfront.
Speaking in Kisumu during the launch of the 2026 Johari Awards in Western Kenya, NCBA Group Director, Enterprise, Lennox Mugambi, said asset financing remained critical in helping individuals and businesses overcome financial barriers to acquiring assets.
“As we mark 20 years of Johari, we are extremely proud of the impact we have had on individuals, businesses and, most importantly, the economy. Our goal has been to break the financial barriers that exist for people to have access to the assets they need to be able to achieve their ambitions,” Mugambi said.
NCBA has financed assets for businesses operating in key sectors of the economy for the past two decades, including agriculture, trade, transport, manufacturing and services.
The lender has in recent years expanded its financing portfolio beyond conventional vehicles and equipment to include electric vehicles and solar solutions, reflecting changing customer needs and increased interest in sustainable technologies.
Rising fuel costs and growing demand for environmentally friendly alternatives have also contributed to increased interest in electric mobility, according to the bank.
NCBA’s digital vehicle marketplace, CarDuka, is also part of its asset financing ecosystem, connecting customers with vehicle ownership opportunities.
The bank has further expanded into aircraft leasing, widening the range of assets that can be financed through its solutions.
Mugambi said the bank’s continued growth in asset finance was closely linked to its partnerships with dealers, insurance brokers, agents and other players in the sector.
“Every vehicle, machine or piece of equipment financed represents a customer with a need and a partner who helped us understand that need and find the right solution. Our continued growth in Asset Finance is closely linked to the strength of these relationships,” he said.
The remarks were made during the launch of the 2026 Johari Awards in Western Kenya, part of NCBA’s celebrations marking 20 years of the initiative.
The awards recognise dealers, insurance brokers, agents and industry partners who have helped customers access assets to expand their businesses and improve productivity.
The regional campaign will cover approximately four regions, including Western Kenya and the Coast.
Kisumu County Executive Committee Member for Infrastructure, Transport, Energy and Public Works Jerome Ochieng said access to financing remained important for businesses with viable ideas but insufficient resources to implement them.
“Finances are a key part of every other business. You could have a very fantastic business idea, but you only get a gridlock at the point where resources are not available,” he said.
Support Independent Journalism
Stand With Bold Journalism.
Stand With The Standard.
Continue
→
Pay via
Secure Payment
Kenya’s most trusted newsroom since 1902
NCBA Group is expanding its asset financing solutions to cover emerging sectors such as electric vehicles and solar energy as businesses and individuals increasingly turn to financing to acquire equipment, machinery and other productive assets.
The bank said it maintained a 30 per cent share of Kenya’s asset finance market in the first half of 2026, as it continued to support customers across agriculture and agribusiness, trade, transport and logistics, manufacturing and services.
The lender’s asset finance expansion comes as businesses seek alternative ways of acquiring vehicles, machinery and equipment without having to meet the full cost upfront.
Speaking in Kisumu during the launch of the 2026 Johari Awards in Western Kenya, NCBA Group Director, Enterprise, Lennox Mugambi, said asset financing remained critical in helping individuals and businesses overcome financial barriers to acquiring assets.
“As we mark 20 years of Johari, we are extremely proud of the impact we have had on individuals, businesses and, most importantly, the economy. Our goal has been to break the financial barriers that exist for people to have access to the assets they need to be able to achieve their ambitions,” Mugambi said.
NCBA has financed assets for businesses operating in key sectors of the economy for the past two decades, including agriculture, trade, transport, manufacturing and services.
The lender has in recent years expanded its financing portfolio beyond conventional vehicles and equipment to include electric vehicles and solar solutions, reflecting changing customer needs and increased interest in sustainable technologies.
Rising fuel costs and growing demand for environmentally friendly alternatives have also contributed to increased interest in electric mobility, according to the bank.
NCBA’s digital vehicle marketplace, CarDuka, is also part of its asset financing ecosystem, connecting customers with vehicle ownership opportunities.
The bank has further expanded into aircraft leasing, widening the range of assets that can be financed through its solutions.
Mugambi said the bank’s continued growth in asset finance was closely linked to its partnerships with dealers, insurance brokers, agents and other players in the sector.
“Every vehicle, machine or piece of equipment financed represents a customer with a need and a partner who helped us understand that need and find the right solution. Our continued growth in Asset Finance is closely linked to the strength of these relationships,” he said.
The remarks were made during the launch of the 2026 Johari Awards in Western Kenya, part of NCBA’s celebrations marking 20 years of the initiative.
The awards recognise dealers, insurance brokers, agents and industry partners who have helped customers access assets to expand their businesses and improve productivity.
Stay informed. Subscribe to our newsletter
The regional campaign will cover approximately four regions, including Western Kenya and the Coast.
Kisumu County Executive Committee Member for Infrastructure, Transport, Energy and Public Works Jerome Ochieng said access to financing remained important for businesses with viable ideas but insufficient resources to implement them.
“Finances are a key part of every other business. You could have a very fantastic business idea, but you only get a gridlock at the point where resources are not available,” he said.
By Standard Team