Kenya's Stanbic Bank signed an import financing deal with two vehicle importers
Posted on : Monday, 28th March 2022
MHH International Limited and World Navi Company Limited, two motor vehicle importers in Kenya, have formed an import finance cooperation with Stanbic Bank Kenya.
With the signing of the agreement, consumers will get up to 80% financing from Stanbic Bank, with a 20% deposit paid to the importers and a payment period of up to four years.
"Stanbic Bank intends to make it easier for our clients to get high-quality automobiles from foreign markets. This would provide them access to a larger pool of automobiles, ensuring that the vehicle they choose completely fulfils their demands "Aliya Khanbhai, Head of High Net Worth and Affluent Clients at Stanbic Bank Kenya said.
Stanbic Bank has been in the forefront of providing customised car and asset financing solutions, assisting several clients in expanding their businesses and acquiring essential assets.
The agreement is anticipated to make it easier for consumers to obtain automobiles from the United Kingdom, Japan, or Australia, with MHH International providing end-to-end assistance from vehicle sourcing to delivery, as well as an additional three-month guarantee.
"We care deeply about the client experience, and we value honesty above everything else. We aim to give a quality product while also ensuring that our consumers enjoy the purchasing process with us "Alistair Benn, Managing Director of MHH International, stated
Benn further remarked that the financing package was opportune, since the Covid-19 epidemic has impacted stock availability and caused in a rise in motor vehicle pricing, making it more difficult and costly for clients to acquire automobiles overseas.
Customers will also be able to purchase automobiles from the Japanese used car auction, where over 100,000 vehicles are auctioned off each week, through World Navi.
"We plan to assist our clients in selecting from a wide range of assets to guarantee that they get the absolute best their money can afford them," said Stanley Makombe, General Manager of World Navi Company Ltd.
