DEAL

DT Dobie, Co-op Bank launch financing partnership for buses

The scheme is available to both Co-op Bank customers and non-customers who want direct acquisition of the vehicles

In Summary
  • Customers who qualify for the scheme will have the option to purchase buses with financing of up to 95 per cent or to acquire more units through 100 per cent leasing.
  • Schools and transport companies will have the option to decide the configuration of buses that suit them ranging from 37 seats to the ultra-luxury coaches.
Chief Commercial Officer Co-op Bank Fleet Africa Leasing Anthony Mbau, Co-op Bank’s Director Corporate & Institutional Banking Jacquelyn Waithaka and the Finance Director DT Dobie Srinivas Cherevu exchange deal documents
Chief Commercial Officer Co-op Bank Fleet Africa Leasing Anthony Mbau, Co-op Bank’s Director Corporate & Institutional Banking Jacquelyn Waithaka and the Finance Director DT Dobie Srinivas Cherevu exchange deal documents
Image: COURTESY

DT Dobie and Co-op Bank have entered into a strategic financing partnership worth Sh1billion that will enable institutions to purchase or lease Mercedes-Benz buses.

Customers who qualify for the scheme will have the option to purchase buses with financing of up to 95 per cent or to acquire more units through 100 per cent leasing, for an extended period of up to 60 months.

The scheme is available to both Co-op Bank customers and non-customers who want direct acquisition of the vehicles, or for leasing.

Co-operative Bank’s leasing arm, Co-op Fleet Africa, tracks and monitors the vehicles, deals with routine administration including maintenance, service and repairs and manages the fleet so that clients can focus on uninterrupted service.

“150 units of MB 917 and the bigger MB 1730 buses will be available for customers to buy or lease,” said DT Dobie Project Manager for Mercedes-Benz Buses Mathew Mbuko.

Schools and transport companies will have the option to decide the configuration of buses that suit them ranging from 37 seats to the ultra-luxury coaches.

“The bank has made the terms flexible to accommodate MSMEs, Co-operatives, Corporates, Individuals and Farmers, to support them retool their businesses as the economy re-opens,” said Co-op Bank, Director of Corporate and Institutional Banking, Jacquelyne Waithaka

Mercedes-Benz buses are NTSA-approved and are built on dedicated bus chassis, they have an optimized engine which saves fuel and have longer service intervals which decreases downtime.