In a significant move to bolster Nairobi’s public transportation, KCB Bank Kenya has partnered with County Bus Service (CBS) SACCO to finance the acquisition of 150 new buses. This initiative is part of KCB’s broader strategy to support the public transport sector, following its Kshs.8 billion financing agreement with the Matatu Owners Association (MOA) in 2024.
KCB Bank’s collaboration with CBS SACCO underscores its dedication to providing financial solutions that facilitate business growth and contribute to sustainable urban mobility. The bank’s Corporate Banking Director, Mr. John Okulo, emphasized that this partnership transcends mere financing; it aims to expand public transport with efficient and modern vehicles, thereby supporting business growth while promoting a cleaner, well-managed city.
The initial phase of this partnership saw the flag-off of the first 10 buses, marking the commencement of the planned 150-bus acquisition by CBS SACCO. This upgrade is set to enhance public mobility within Nairobi City County, providing commuters with safer and more reliable transportation options.
The new buses, supplied by Simba Corporation Ltd and auto-fitted by Dodi Autotech Ltd, are equipped with advanced tracking devices pre-qualified by KCB Bank Kenya. This enhancement aims to improve safety and operational oversight. Additionally, CBS SACCO will implement digital fare collection via KCB Vooma and KCB Fare Pay solutions, ensuring secure deposits into their collection accounts. This innovation reduces cash-handling risks and enhances financial transparency for operators.
The partnership between KCB Bank and CBS SACCO is poised to set new standards for safety and convenience in Nairobi’s public transport sector. By modernizing the fleet with efficient and environmentally friendly buses, this initiative aligns with the United Nations Sustainable Development Goal (SDG) on sustainable cities. It also reflects a commitment to sustainable urban development, reinforcing Nairobi’s position as a progressive city embracing modern transportation solutions.
KCB Bank plans to deepen its ecosystem approach to supporting the public transport sector. The bank aims to collaborate with Original Equipment Manufacturers (OEMs) such as Moja EV for e-mobility, BasiGo, Roam Buses, and other key players, including oil marketers, cashless payment providers, and welfare groups. These partnerships will enable the bank to implement financial literacy programs for transport crews, further enhancing the sector’s professionalism and efficiency.
For investors and stakeholders in the public transport sector, this partnership presents a compelling case for embracing modernization and sustainability. KCB Bank’s comprehensive support system offers financial solutions, technological advancements, and educational programs to ensure the sector’s growth and development. Engaging with KCB Bank can provide the necessary resources and support to navigate the evolving landscape of Nairobi’s public transportation.
