CFAO Mobility Kenya and Stanbic Bank Kenya have renewed a Memorandum of Understanding (MOU) to extend vehicle financing terms for customers purchasing vehicles across CFAO Mobility’s portfolio, the firms said on May 13 in Nairobi.
Under the renewed MOU, customers can access vehicle financing of up to 100% for personal vehicles and up to 90% for commercial vehicles. The financing terms include zero processing fees and repayment tenures of up to 96 months for salaried customers and up to 72 months for business clients, according to the press release.
The agreement comes as lenders and vehicle distributors in Kenya continue to compete on affordability and financing access, with higher living costs and interest rate expectations shaping household and SME purchasing decisions. For the automotive retail market, longer tenures and reduced upfront costs can support demand for new vehicles, particularly for buyers who would otherwise opt for used imports due to price sensitivity.
Daniel Maundu, General Manager, Toyota National Sales at CFAO Mobility, said the partnership targets customers who face financing constraints despite readiness to purchase. “At CFAO Mobility, we believe car ownership starts with access. Every day, we meet customers who are ready to own a vehicle but face financial constraints. That is why today’s partnership is so significant because it is the bridge that helps customers turn their aspirations into ownership,” Maundu said.
Stanbic Bank Kenya said the renewed deal aligns its asset finance focus with CFAO Mobility’s distribution and after-sales offering. “This MOU reflects a shared vision to deliver practical, customer-centric mobility and financing solutions that empower individuals and businesses to grow and thrive. Through this partnership, we are combining CFAO’s leadership in mobility solutions with Stanbic’s expertise in asset finance to provide seamless vehicle financing,” said Kimani Njagi, Head of Vehicle and Asset Financing at Stanbic Bank Kenya.
According to the press release, the partnership also aims to support customers beyond purchase, including maintenance, servicing and potential future upgrades. In Kenya’s formal automotive sector, after-sales support has become a competitive differentiator, particularly as consumers weigh total cost of ownership and concerns around counterfeit spare parts.
The announcement was made during the 2026 Beauty Meets the Bonnet event, described by the organisers as a women-only automotive platform focused on building confidence and practical knowledge around car ownership. The companies said attendees participated in test drives across CFAO Mobility models and visited interactive learning stations covering basic maintenance topics, including identifying genuine versus counterfeit parts and changing a tyre.
The organisers said the platform has more than 800 registered members and focuses on financial empowerment, practical car knowledge and vehicle upgrade pathways. While the event is positioned as an engagement channel, it also signals how dealerships and banks are targeting customer segments with bundled education, after-sales support and financing options to stimulate demand.
Looking ahead, the impact of the renewed MOU is likely to be measured by uptake across personal and commercial buyers, particularly SMEs seeking vehicle-backed growth. Further details such as pricing, applicable interest rates and eligibility criteria were not disclosed in the press release.