Gulf African Bank, DT Dobie ink asset financing deal

Gulf African Bank (GAB) Kenya and car distributor DT Dobie have sealed a Shari’ah compliant financing deal to enable both existing GAB clients and new clients, including those referred by the vehicle distributor to purchase commercial vehicles.

Under the agreement, registered SMEs and corporates will be able to acquire Mercedes Benz trucks and buses as well as Hyundai light trucks with financing of upto 90% for a maximum tenor of 60 months.

Speaking during the signoff ceremony, the lender’s chief executive officer, Anuj Mediratta said all Kenyans who are running registered businesses should take advantage of the financing package to maintain and expand their businesses.

“We are keen on developing joint, combined or complementary programs to ensure our customers unlock their full potential and participate optimally in the sectors they are in,” said Mediratta.

She added that the partnership will ease the financial load of institutions by also offering value additions like termly repayments for schools to help them manage their cash flows.

Chris Ndala, the managing director of DT Dobie said that assets drive up production and value of businesses and that their range of midsize, large light-duty and large heavy-duty trucks are ideal for any corporate business, or SME in need of  high performance vehicles.

“Customers will enjoy a three year warranty, guaranteed fuel efficiency and configurations that make them the best load carriers for any terrain locally and regionally,” said Ndala.

According to Sarfraz Premji, the sales manager for Hyundai Trucks which have capacities of five, seven and nine tonnes, there is increasing interest in light commercial vehicles by fast moving goods distributors, bakeries, builders, manufacturing companies and transporters.

Sarfraz Premji (left) DT Dobie  General Manager for Hyundai Trucks  and Anuj Mediratta (right) Gulf African Bank CEO,  exchange a Memorandum of Understanding by which Gulf African Bank  will offer Shari’ah compliant financing for Mercedes buses, Actros and  Hyundai trucks.

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