SUPPORT

SMEs to benefit from motor vehicle financing scheme

Diamond Trust Bank has partnered with Crown Motors Group in the plan.

In Summary

•Under the scheme dubbed ‘Beba Leo’, small businesses will receive 100 per cent financing over 60 months to acquire new vehicles.

•Small businesses account for the majority of businesses worldwide and are an important contributor to job creation and global economic development.

L-R:Adam Jones,Mastercard Area Business Head East Africa, Eran Feinstein, CEO of DPO and Faroul Khimji, Head of Products and Marketing at DTB/Courtesy
L-R:Adam Jones,Mastercard Area Business Head East Africa, Eran Feinstein, CEO of DPO and Faroul Khimji, Head of Products and Marketing at DTB/Courtesy

Diamond Trust Bank has partnered with Crown Motors Group, the official distributor of Nissan Brand in Kenya to offer motor vehicle financing targeting small businesses.

Under the scheme dubbed ‘Beba Leo’, small businesses will receive 100 per cent financing for over 60 months to acquire new vehicles to be used for their businesses, and will receive comprehensive insurance cover.

“Despite providing a huge share of global employment, SMEs still face major challenges when it comes to raising capital for their businesses and accessing funds to grow their business potential,” General Manager, Asset Finance, DTB, Kennedy Nyakomitta said.

Nyakomitta added that small businesses will not have to outlay any cash to get these vehicles, they will simply need approval from DTB after which they can collect the desired vehicle from Crown Motors.

National sales manager, Crown Motors, Maliha Sheikh said that this partnership will strengthen their efforts to offer affordable and accessible mobility solutions to a diverse set of valued DTB customers.

He added that Kenya is one of Nissan’s oldest markets with over 60 years of presence in the market and their vehicle models speak to the Kenyan people.  

According to a World Bank report, small businesses play a major role in most economies, particularly in developing countries.

They account for the majority of businesses worldwide and are an important contributor to job creation and global economic development.

They make a substantial contribution to livelihoods and inclusive growth in Kenya.

They account for 24 per cent of the country’s gross domestic product, over 90 per cent of private sector enterprises and 93 per cent of the total labour force in the economy.