NCBA pushes beyond vehicle loans into solar, electric mobility and aircraft leasing

Buying a vehicle or a machine need not mean finding the full purchase price at once. That is the barrier NCBA Group is seeking to lower as it expands financing into electric vehicles and solar energy. According to The Standard Kenya Business (direct), the lender said it held 30 per cent of Kenya’s asset finance market in the first half of 2026. Asset finance helps customers acquire vehicles, equipment and other productive assets without paying the entire cost upfront.

The expansion was outlined in Kisumu at the launch of the 2026 Johari Awards in Western Kenya. The awards recognise the dealers, insurance brokers, agents and other industry partners who help customers obtain assets for their businesses. This year marks 20 years of the initiative, giving the bank an occasion to highlight both its established financing activities and the newer types of assets it now covers.

Beyond conventional vehicles and equipment

NCBA has spent the past two decades financing assets for businesses in agriculture, trade, transport, manufacturing and services. Its more recent move into electric vehicles and solar solutions extends that business beyond conventional vehicles and equipment. The bank links the shift to changing customer needs and greater interest in sustainable technologies, as businesses and individuals increasingly seek financing to acquire the assets they need.

Rising fuel costs are also encouraging interest in electric mobility, according to the bank. NCBA’s vehicle financing activities include CarDuka, a digital marketplace that connects customers with vehicle ownership opportunities. The lender has also moved into aircraft leasing, adding another category to its financing offering. The report gives no financing volumes for these newer areas or timetable for their further expansion.

Partners at the centre of the push

Lennox Mugambi, NCBA Group’s director for enterprise, said the purpose of its financing work was to help people and businesses get past the financial obstacles standing between them and the assets needed to pursue their ambitions. Speaking at the Kisumu event, he linked the bank’s continued growth in asset finance to its relationships with dealers, insurance brokers, agents and other partners.

Mugambi said NCBA’s continued growth in asset finance was closely tied to the strength of its partner relationships.

Those relationships are the focus of the Johari Awards. Mugambi described each financed vehicle, machine or piece of equipment as the result of a customer’s need and a partner’s help in understanding it and finding a suitable solution. The awards recognise partners’ contribution to helping customers acquire assets, expand their businesses and improve productivity, rather than celebrating the lender’s activities alone.

For local businesses, the underlying challenge remains access to money. Jerome Ochieng, Kisumu County’s executive committee member responsible for infrastructure, transport, energy and public works, said a viable business idea could stall when the resources to put it into practice were unavailable. His remarks placed the financing discussion around a practical bottleneck: turning an idea into an operating business.

The next area to watch is how NCBA’s broader financing range develops alongside its established work in agriculture, trade, transport and manufacturing. Electric vehicles, solar solutions and aircraft leasing widen the assets on offer. The question for future reporting is how much those newer categories contribute to a business whose reach still depends heavily on partners connecting customers with financing.