BOA Kenya, JCB Ganatra launch 90% asset financing deal to boost contractors’ access to machinery
By Shadrack Mutai | NAIROBI,
Bank of Africa (BOA) Kenya and Ganatra Plant and Equipment (GPE), the exclusive JCB dealer in Kenya and Uganda, have unveiled a new asset financing partnership that will allow contractors and agribusinesses to acquire JCB machinery with up to 90 per cent financing over a five-year repayment period.
The agreement, signed in Nairobi, is expected to ease one of the biggest challenges facing local contractors the high upfront cost of acquiring heavy construction and agricultural equipment.
Under the arrangement, qualifying customers will pay a 10 per cent deposit, with BOA Kenya financing the remaining 90 per cent of the equipment cost over 60 months.
Speaking during the signing ceremony, JCB Ganatra Managing Director Altaf Ganatra said the facility is designed to support businesses seeking to participate in Kenya’s expanding infrastructure and construction sector.
“During this infrastructure period, JCB Ganatra will put equipment in the market while offering longer repayment periods to help businesses fulfil their commitments,” he said.
BOA Kenya’s Head of Assets, Bernice Murigi, said the partnership combines the bank’s experience in asset financing with Ganatra’s established presence in the construction and agricultural equipment market.
“The strong collaboration in the finance, agricultural and construction sectors will enable seamless services,” she said, adding that the financing structure is intended to lower entry barriers for small and medium-sized enterprises.
Ganatra Plant and Equipment General Manager Suhhel Yakub described the partnership as a complete business solution that goes beyond equipment sales by enabling enterprises to grow through affordable financing.
He noted that reliability remains a key consideration for contractors investing in heavy machinery, saying JCB equipment has built a reputation for durability and long-term performance.
The financing programme comes as Kenya continues to invest heavily in roads, housing, energy and other infrastructure projects, creating growing demand for modern construction equipment. However, access to affordable financing has remained a major hurdle for many local contractors.
BOA’s Philip Ngunyu said the bank is ready to begin processing applications immediately, enabling businesses to acquire equipment needed for ongoing and upcoming infrastructure projects.
Ganatra Plant and Equipment has been the exclusive JCB dealer in Kenya and Uganda since 1982 and operates branches in Nairobi, Mombasa, Nakuru, Eldoret and Kampala, providing sales, parts and after-sales support across the region.
The partners said the financing programme takes effect immediately and is expected to improve access to premium construction and agricultural machinery, strengthening the capacity of Kenyan contractors to compete for projects in the country’s growing infrastructure pipeline.
