https://www.businessdail...l-bus-financing-3270980

NCBA Bank is targeting schools with a new financing deal to meet transport demand amid a reduction in buses’ carrying capacity due to coronavirus.

This comes on the back of a requirement restricting school buses to utilise half of their normal capacity.

Under the financing deal, private schools will enjoy up to 72-month repayment period on buses bought from Isuzu East Africa. The NCBA loans have an interest rate of 13 percent.

The financing deal was arrived at following a consultation with 822 schools under the Kenya Private Schools Association (KPSA) umbrella.

“This programme provides a versatile payment solution that will enable schools to acquire new buses to meet their transport needs,” KPSA National Chair Mutheu Kasanga said during the unveiling of the partnership.

Clients will also enjoy a one-term repayment holiday.

Similarly, they will be able to acquire buses on long term leases of between two to five years without any upfront charges.

NCBA’s asset finance and business solutions acting Group Director Lennox Mugambi said buses will also be insured at a discounted rate of 3.8 percent by the NCBA Insurance Agency.

“As the leader in asset finance, we are keen to offer learning institutions financial solutions that will give them resilience to recover after nearly 10 months of closure,” Mr Mugambi said.

Who is heavily buying?

55million shares traded so far,about 3.5% of the issued capital.

During the merger, they got a tax waiver in excess of 300M courtesy of their political connections. Karma is truly a bi*ch.

NCBA Bank Kenya plans to open 12 new branches this year as the lender continues to enhance its countrywide network.
NCBA is opening branches (12 in 2022) as the top reason people choose a bank, is proximity to a branch, not how good the digital app is while agency banking is relevant to customers when an agent is within 1KM of a branch - @JohnGachora
NCBA disbursed Kshs 584 billon of digital loans in 2021 (including Fuliza 482 bn & M-Shwari 88 bn). These are churn loans, quickly repaid, and only Kshs 12 billion was on the balance sheet at year-end (they do not prop it up)
The lender is, however, set to consolidate five of its branches located in the same locations

In Kiambu town,when Stanchart recently closed its branch, NCBA took that space.

Insurance companies it's worse,the number of insurance companies is more than the banks

I am happy for them to stay only as so far as they provide jobs. Consolidation will naturally mean that jobs are lost. So am ok with 45 HR Directors instead of 5 HR Directors.......

This counter has gained alot for the last six months.Whats the hidden card?