NCBA Strengthens Lease Financing Partnership With 24-Vehicle Handover To Rubis Energy Kenya

NCBA has handed over 24 Chery Tiggo vehicles to Rubis Energy Kenya, marking a significant milestone in a strategic partnership that has spanned more than two decades.

The handover forms part of a broader asset financing solution under which NCBA leases and manages a fleet of 72 passenger and commercial vehicles for Rubis Energy Kenya. The structure enables the business to optimise capital allocation while maintaining high fleet availability, supported by comprehensive fleet management delivering utilisation rates above 98%.

Speaking during the handover ceremony, NCBA Bank Kenya Managing Director, James Gossip said the milestone reflects both the depth of the relationship and the Group’s evolving role as a solutions partner and trusted advisor to its corporate clients.

“Our relationship with Rubis Energy Kenya is built on more than two decades of trust, shared growth and a commitment to creating long-term value. Over the years, we have evolved from a banking provider into a strategic partner, supporting the business through tailored financial solutions that enable operational efficiency and sustainable growth.”

He added:

“We do not approach our clients with predefined products. We structure solutions around each customer’s operating model, industry dynamics and growth ambitions. This is what allows us to deliver long-term value beyond financing.”

This approach is aligned to a shifting operating environment in Kenya, where businesses are increasingly prioritising capital efficiency. Economic growth remains steady, with GDP projected at approximately 4.5% to 5% in 2026, supported by expansion across key sectors such as energy, infrastructure, and logistics. At the same time, rising financing costs, currency pressures and changing consumer behaviour are accelerating the transition toward asset-light and efficiency-driven models.

SMEs, which contribute an estimated 40% of Kenya’s GDP, remain central to economic activity, further reinforcing the need for structured and accessible financing solutions that enable productivity and growth. In this context, asset financing solutions such as leasing and hire purchase are becoming critical tools for capital optimisation.

NCBA is strategically positioned to meet this need, with a leading role in asset finance and a strong track record in hire purchase solutions. The Rubis partnership illustrates how the Bank structures sector-specific solutions that enable clients to sustain operations, optimise capital and scale efficiently.

Rubis Energy Kenya Managing Director Frederic Joseph Maupetit welcomed the fleet renewal, noting its impact on operational performance and capital efficiency.

“At Rubis Energy Kenya, our mission is to serve our customers well. That sounds straightforward. But behind it is a network of more than 300 service stations and thousands of commercial and industrial customers, spread across this country, each one requiring daily attention — from our commercial teams visiting partners, our field staff troubleshooting on site, our people moving constantly to make sure that what we promise, we deliver.” Rubis Energy Kenya Managing Director, Frederic Maupetit remarked, “These vehicles are for them. This is a direct investment in the people who carry the Rubis name onto the roads of Kenya every single day. Better tools mean better service. And better service is what our customers deserve.”

Beyond asset financing, NCBA provides an integrated corporate banking platform that brings together asset finance, leasing, trade finance, cash management solutions, investment banking and insurance. This one-stop-shop approach enables the Group to deliver holistic solutions that address both financing and operational needs across entire value chains.

The energy sector remains a key focus for NCBA, given its role in driving industrial activity and economic growth. 2025 sector data shows continued expansion, with fuel consumption rising by over 10% year-on-year, and electricity consumption rising by over 6% year-on-year, reflecting increased commercial and industrial demand. NCBA continues to support players across the energy value chain with tailored solutions that enable efficient capital deployment, supply chain optimisation and regional expansion.

Salvador Caetano Kenya Managing Director Aurélien Glay highlighted the importance of partnerships in delivering end-to-end solutions for corporate clients.

“When we started working together on this first fleet, it was never just about supplying vehicles. It was about understanding the operational needs of our customer, finding the right financial structure, aligning expectations, and, ultimately, building a solution that creates value for everyone involved.”

Since 2004, NCBA and Rubis Energy Kenya have built a relationship anchored on trust, innovation and shared growth. The fleet renewal programme reflects a proven model that enables businesses to preserve capital, maintain operational efficiency and scale sustainably, while reinforcing NCBA’s position as a strategic partner across sectors.

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