× Business BUSINESS MOTORING SHIPPING & LOGISTICS DR PESA FINANCIAL STANDARD Digital News Videos Health & Science Lifestyle Opinion Education Columnists Moi Cabinets Arts & Culture Fact Check Podcasts E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Jobs Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS
×

Sacco gets Isuzu buses in lease deal with Coop Bank

NEWS
By Peter Theuri | Nov 5th 2020 | 2 min read
By Peter Theuri | November 5th 2020
NEWS

The Metro Trans Sacco Isuzu vehicle fleet acquired by Metros being driven off from Isuzu after the handing over ceremony.

Vehicle assembler Isuzu East Africa yesterday delivered 45 Isuzu 33-seater buses worth Sh238 million to Metro Trans PSV Sacco in a leasing deal with Co-operative Bank.

This is part of 100 Isuzu buses availed to the PSV sector three months ago in an asset financing deal with Co-op Bank.

The buses, which retail at Sh5.3 million per unit, are the largest fleet delivery the auto firm has managed to put together for the PSV sector in one deal.

The lease agreement is expected to support growth and the return to business for PSV operators who had been severely affected by the recent Covid-19 lockdown and travel restrictions.

Speaking at the hand-over ceremony, Isuzu East Africa Managing Director Rita Kavashe said the initiative has been prompted by the need to support economic recovery measures.

“Public transportation is among the sectors hardest hit by the pandemic. We have through Central Farmers Garage, already manufactured 25 vehicles under this leasing deal from Co-operative Bank,” she said.

“This is yet another example of how the Buy Kenya, Build Kenya initiative can support our economy.”

Edward Mutuaruhiu, head of Sacco banking at Co-operative Bank, said the lease arrangement has given PSV customers an opportunity to grow their business and create jobs. “This is a cost-effective way for PSV Saccos to gain access to new vehicles,” he noted

Metro Trans PSV Sacco Chairman Oscar Rosana said the buses will boost the Sacco’s growth plans.

Share this story
Virus cuts flower exports by 20pc
The dip follows Western countries’ restriction to fight second wave of Covid-19 infections.
China rejected Kenya's request for Sh32.8b debt moratorium
China is Kenya’s largest bilateral lender with an outstanding debt of Sh692 billion.
.
RECOMMENDED NEWS
Feedback