DT Dobie and Co-op Bank have entered into a strategic financing partnership worth Sh1 Billion that will enable institutions such as schools, churches, universities and fleet owners to purchase or lease Mercedes-Benz buses.
Customers who qualify for the scheme will have the option to purchase buses with financing of up to 95% or to acquire more units through 100% leasing, for an extended period of up to 60 months.
Customers will acquire the bus they need with a payment they can afford, while schools and colleges will have payments correspond with school terms for easier cash flow management.
The scheme is available to both Co-op Bank customers and non-customers who want direct acquisition of the vehicles, or for leasing.
Co-op Bank’s leasing arm, Co-op Fleet Africa will track and monitor the vehicles, deal with routine administration including maintenance, service and repairs. To enable clients focus on uninterrupted services, Co-op fleet Africa will also manage the fleets.
During the launch, DT Dobie Project Manager for Mercedes-Benz Buses Mr Mathew Mbuko explained that 150 units of MB 917 and the bigger MB 1730 buses will be available for customers to buy or lease.
Schools and transport companies will have the option to decide the configuration of buses that suit them ranging from 37 seats to the ultra-luxury coaches.
On behalf of Co-op Bank, the Director of Corporate and Institutional Banking, Jacquelyne Waithaka said that the scheme is available to both Co-op Bank customers and non-customers who want direct acquisition of the vehicles, or for leasing, adding
“The bank has made the terms flexible to accommodate MSMEs, Co-operatives, Corporates, Individuals and Farmers, to support them retool their businesses as the economy re-opens.”