Matatu operator Metro Trans PSV Sacco yesterday received 45 units of 33-seater Isuzu buses following a leasing pact with Co-op Bank.
The Sh238 million deal is part of a zero deposit bus leasing plan worth Sh530 million where 100 units of 33-seater Isuzu buses will be delivered to the Nairobi-Kiambu and Nairobi-Thika commuter bus company.
Metro Trans PSV Sacco chairman Oscar Rosana termed the leasing deal a cheaper avenue to enhance their capacity to meet customer needs.
Isuzu East Africa Managing Director Rita Kavashe called the deal a win-win arrangement where operators will be given vehicles to manage and pay leasing fees over the next four years.
“Covid-19 has hurt the matatu sector and to mitigate this, we and our dealer, Central Farmers Garage had earlier handed over 25 vehicles under this leasing deal from Co-op Bank,” she said.
Co-op Bank Fleet Africa Leasing chief executive Robert Mbugua said this was a cost-effective way for PSV saccos to access new vehicles and pay monthly or quarterly instalments against the vehicle cost as it continues to generate cash for them.