Absa unveils Sh100bn asset finance plan

Absa Bank Kenya has unveiled a revamped asset financing proposition aimed at deploying Sh100 billion over the next three years to finance businesses and individuals across the country.

 The enhanced offering is designed to improve access to productive assets and support growth across key sectors of the economy, including manufacturing, agriculture, trade and logistics, infrastructure, as well as health and education.

 Absa Bank Kenya Chief Executive Abdi Mohamed said a key feature of the revamped proposition is the introduction of revised, market-aligned parameters that prioritise speed, simplicity and predictability in the processing of the facility.

 He said financing structures have been refined to better reflect actual asset use and sector-specific cash flow dynamics, enabling customers to move from decision to deployment with fewer handoffs and greater clarity.

 “This refreshed offering reflects our commitment to supporting productive enterprise across Kenya’s key value chains. By ensuring capital moves more efficiently to where it is most productive, and by strengthening the capabilities that support our customers end to end, we are enabling individuals and businesses to invest, expand capacity, and compete with greater certainty,” said Mohamed at the launch event in Nairobi, yesterday.

 “This is how we translate financing into real and measurable economic impact, and how we live our purpose of empowering Africa’s tomorrow.”   Absa Bank Kenya Business Banking Director Renato D’souza said customers will benefit from improved processing timelines. “Onboarding-to-approval time has been reduced from 10 days to 48 hours, while approval-to-disbursement is now completed within 72 hours. Additionally, the number of pre-approval steps has been cut from 13 to six, delivering a more efficient and streamlined customer journey,” said D’souza.

 “Under the new offering, loan tenors have been extended to up to 84 months for select asset classes, among the longest in the market, with financing of up to 100 per cent.”

 Targeted asset categories include school buses, new and imported personal vehicles (including grey market vehicles), medical equipment for hospitals, clinics and laboratories, agricultural machinery, and solar equipment, among others.

 The revamped offering, the bank said, reflects a deliberate shift in how it enables growth for both businesses and individuals, in response to rising demand for faster, more transparent, and customer-centric financing solutions as Kenya’s economy becomes increasingly asset-driven.

  It also brings to life Absa’s purpose of empowering Africa’s tomorrow, together, one story at a time, through practical solutions that convert capital into tangible economic outcomes.

 To support a consistently high-quality and customer-centric experience, Absa said it has also invested in a dedicated asset financing centre in Nairobi.

 The centre brings together specialist asset financing expertise, sector-aligned credit assessment, and coordinated execution teams. “It enhances relationship management, provides clearer guidance to customers and partners, and strengthens Absa’s ability to deliver asset financing reliably and at scale,” said Mohamed.

 D’souza added that the revamped proposition, dubbed ABF 2.0, is firmly grounded in execution

 “ABF 2.0 is a direct response to what our customers and partners have told us they need. By simplifying processes, strengthening our parameters, and investing in specialist capability, we are making asset acquisition easier to navigate and faster to execute across key value chains. It is a practical demonstration of our ‘We Get It’ mindset.”

 The ABF 2.0 is supported by a growing network of local and international asset partners, enabling financing to be closely aligned with acquisition journeys across multiple asset classes.

 These include vehicles, agribusiness equipment, manufacturing machinery, medical and construction equipment, solar solutions, and other essential business assets.

 The revamped proposition is underpinned by Absa’s customer promise, reflecting a deeper understanding of how businesses operate, the pressures they face, and the need for financing solutions that move at the pace of decision-making.