CFAO Mobility Kenya and Stanbic Bank Kenya have renewed a Memorandum of Understanding (MoU) aimed at expanding access to vehicle financing for customers purchasing vehicles from CFAO Mobility’s portfolio, the companies said in a statement dated May 11 in Nairobi.

Under the renewed agreement, customers can access financing of up to 100% for personal vehicles and up to 90% for commercial vehicles, with “zero processing fees” and repayment periods of up to 96 months for salaried customers and up to 72 months for business clients, according to the press release.

The partnership is intended to support both individual and business buyers at a time when access to credit remains a key constraint in the automotive market, particularly for first-time buyers and small enterprises that rely on vehicles for delivery, logistics and field operations.

Daniel Maundu, General Manager, Toyota National Sales at CFAO Mobility, said the renewed deal targets customers who want to own a vehicle but face financing barriers. “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 MoU aligns with its asset finance strategy and is structured to provide an end-to-end customer experience. “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.

The companies made the announcement during the 2026 Beauty Meets the Bonnet event, which the press release described as a women-only automotive platform focused on building confidence and knowledge around car ownership. According to the statement, attendees participated in test drives across CFAO Mobility models and went through practical maintenance sessions, including how to identify genuine versus counterfeit parts and how to change a tyre.

For Kenya’s automotive and banking sectors, such dealer-bank partnerships remain an important channel for stimulating vehicle sales and broadening asset finance uptake, particularly as buyers seek longer tenures and lower upfront costs. Financing terms such as extended repayment periods can improve affordability for salaried buyers, while partial financing for commercial vehicles can support fleet acquisition for small and medium-sized enterprises.

CFAO Mobility Kenya said the arrangement will cover models within its portfolio. In its company description, Toyota by CFAO Limited said it is the official distributor and service provider for brands including Toyota, Yamaha motorcycles, Volkswagen, Suzuki, Mercedes-Benz passenger vehicles, trucks and buses, Hino, Hyundai light trucks and Sinotruk (HOWO), and also operates AUTOFAST quick service stations and the Automark certified pre-owned brand.

Looking ahead, the effectiveness of the renewed MoU is likely to be measured by loan uptake, vehicle sales supported by credit, and the performance of after-sales and servicing demand associated with financed vehicles. The companies did not disclose targeted volumes, interest rates or the expected value of financing to be issued under the renewed agreement.