in ,

DTB, Crown Motors Ink Deal To Finance Vehicle Acquisition For SMEs

The motor vehicle financing scheme dubbed ‘Beba Leo’ is an SME focused scheme targeting businesses in the trade sub-sector. Under the Beba Leo scheme customers will receive 100% financing over 60 months to acquire new vehicles to be used for their business.
The motor vehicle financing scheme dubbed ‘Beba Leo’ is an SME focused scheme targeting businesses in the trade sub-sector. Under the Beba Leo scheme customers will receive 100% financing over 60 months to acquire new vehicles to be used for their business. [Photo/ Courtesy]

Diamond Trust Bank (DTB) has announced a new partnership with Crown Motors Group, the official distributor of the Nissan brand in Kenya, to offer motor vehicle financing.

The motor vehicle financing scheme dubbed ‘Beba Leo’ targets small and medium-sized enterprises across the country. Under the scheme, SMEs will receive 100% financing over 60 months to acquire new vehicles to be used for their business 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. SMEs will not have to outlay any cash to get these vehicles, they simply need approval from DTB after which they can collect the desired vehicle from Crown Motors,” said Dr Kennedy Nyakomitta, General Manager in charge of Asset Finance.

Earlier in the month, Crown Motors Group unveiled its latest SUV model into the Kenya Market, the Nissan Magnite.

Read: DTB to Close Six Branches Across the Country to Save Costs

Speaking on the new partnership, Maliha Sheikh, the National Sales Manager for Crown Motors Group said, “Kenya is one of Nissan’s oldest markets, with over 60 years of presence in the market, our vehicle models speak to the Kenyan people. This new partnership will strengthen our efforts to offer affordable and accessible mobility solutions to a diverse set of valued DTB customers.”

According to a world bank report, Small and Medium Enterprises (SMEs) play a major role in most economies, particularly in developing countries. SMEs account for the majority of businesses worldwide and are an important contributor to job creation and global economic development.

Micro and small enterprises (MSEs) make a substantial contribution to livelihoods and inclusive growth in Kenya. They account for 24% of the country’s gross domestic product (GDP), over 90% of private sector enterprises and 93% of the total labour force in the economy.

Email your news TIPS to news@kahawatungu.com or WhatsApp +254708677607. You can also find us on Telegram through www.t.me/kahawatungu

Written by Francis Muli

Follow me on Twitter @francismuli_. Email francis@kahawatungu.com

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Showmax Launches 2 for 1 Black Friday deal for All Packages

Tigray crisis

Rights Groups Want UN Council to Urgently Hold Meeting To Address Crisis in Ethiopia