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.

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.