Firms partner to deliver 69-vehicle fleet for Vivo Energy

“Today, we are entering into a strong business partnership that has enabled us to access 69 high-quality vehicles, which will enhance our operations at Vivo Energy Kenya,” he said.

Kenya’s car industry is facing various challenges that have led to the decline of new vehicle sales such as high import duties and taxes, which significantly increase the vehicle costs.

Others are aggressive competition from imported second-hand vehicles, restricted access to affordable vehicle financing that hinders the purchasing power of many potential buyers, and the frequent changes in government policies, taxation and import regulations that create market instability.

“Our ability to support large-scale projects such as this one is a testament to the strength and reach of the Caetano Group,” said Caetano Kenya managing director Aurelien Glay.

“We are proud that despite the current market challenges, we have delivered a fleet that meets the high standards of a company as respected as Vivo Energy Kenya.”

Stanbic Bank Kenya and South Sudan chief executive Joshua Oigara said the bank takes a “value-based approach” to supporting its clients.

“We are proud to be at the forefront of vehicle asset financing and leasing in Kenya and remain committed to fostering our relationship with all partners for continued growth,” he said.