DT Dobie, Co-op ink Sh1b bus financing deal

PARTNERSHIP: DT Dobie and Co-op Bank have entered into a strategic financing partnership worth Sh1 billion to enable institutions such as schools, churches, universities and fleet owners purchase or lease Mercedes-Benz buses.

This will ease pressure in the sector which has been hit hard by Covid-19 pandemic with the option of purchasing buses with financing of up to 95 per cent, or to acquire more units through 100 per cent leasing, for an extended period of up to 60 months.

DT Dobie Project Manager for Mercedes-Benz Buses Mathew Mbuko said a total of 150 units of MB 917 series and the bigger MB 1730 buses will be available for purchase 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,” said Mbuko.

The scheme is available to both Co-op Bank customers and non-customers who want direct acquisition of the vehicles, or for leasing.

“The bank has made the terms flexible to accommodate mirco, small and medium enterprises (MSMEs), Co-operatives, Corporates, Individuals and Farmers, to support them retool their businesses as the economy re-opens,” said Co-op Bank Director of Corporate and Institutional Banking Jacquelyne Waithaka.