NCBA Group is expanding its asset financing solutions to cover emerging sectors such as electric vehicles and solar energy. This move comes as businesses and individuals increasingly turn to financing to acquire equipment, machinery, and other productive assets. The bank maintained a 30 percent share of Kenya's asset finance market in the first half of 2026.
The lender's asset finance expansion supports customers across agriculture and agribusiness, trade, transport and logistics, manufacturing, and services. NCBA Group Director, Enterprise, Lennox Mugambi, stated that asset financing remained critical in helping individuals and businesses overcome financial barriers to acquiring assets. The bank has financed assets for businesses operating in key sectors of the economy for the past two decades.
NCBA has expanded its financing portfolio beyond conventional vehicles and equipment to include electric vehicles and solar solutions. This reflects changing customer needs and increased interest in sustainable technologies. Rising fuel costs and growing demand for environmentally friendly alternatives have contributed to increased interest in electric mobility.
The bank's digital vehicle marketplace, CarDuka, connects customers with vehicle ownership opportunities. NCBA has further expanded into aircraft leasing, widening the range of assets that can be financed through its solutions. Mugambi emphasized that the bank's continued growth in asset finance was closely linked to its partnerships with dealers, insurance brokers, agents, and other players in the sector.
The remarks were made during the launch of the 2026 Johari Awards in Western Kenya, part of NCBA's celebrations marking 20 years of the initiative. The awards recognize dealers, insurance brokers, agents, and industry partners who have helped customers access assets to expand their businesses and improve productivity. The regional campaign will cover approximately four regions, including Western Kenya and the Coast.
Kisumu County Executive Committee Member for Infrastructure, Transport, Energy, and Public Works Jerome Ochieng highlighted the importance of access to financing for businesses with viable ideas but insufficient resources. He noted that finances are a key part of every business and that a lack of resources can hinder the implementation of business ideas.
NCBA's asset financing solutions aim to break the financial barriers that exist for people to have access to the assets they need to achieve their ambitions. The bank's 20-year history of providing asset financing solutions has had a significant impact on individuals, businesses, and the economy.
Key points
- NCBA Bank maintains a 30 percent share of Kenya's asset finance market.
- The bank expands financing portfolio to include electric vehicles and solar solutions.
- NCBA launches 2026 Johari Awards to recognize industry partners.
