{"id":613,"date":"2020-11-05T16:33:47","date_gmt":"2020-11-05T13:33:47","guid":{"rendered":"https:\/\/www.ghafla.com\/sponsored\/?p=613"},"modified":"2020-11-05T16:43:22","modified_gmt":"2020-11-05T13:43:22","slug":"metrotrans-sacco-acquires-45-brand-new-buses-in-a-financing-deal-with-co-op-bank","status":"publish","type":"post","link":"https:\/\/www.ghafla.co.ke\/sponsored\/metrotrans-sacco-acquires-45-brand-new-buses-in-a-financing-deal-with-co-op-bank\/","title":{"rendered":"MetroTrans Sacco acquires 45 brand new buses in a financing deal with Co-op Bank"},"content":{"rendered":"

MetroTrans Sacco<\/strong>, one of the leading PSV transport Sacco\u2019s operating in Nairobi, has today received 45 new buses at Isuzu East Africa with financing from Co-op Bank in form of a lease worth Kes 225 Million.<\/p>\n

The lease will enable the Sacco to respond to increased demand in their existing routes, and to also serve their customers better by offering cashless payments enabled by technology company SWVL that allows users to make and track bookings through the SWVL app.<\/p>\n

The buses were financed through Co-op Bank\u2019s leasing arm – Co-op Bank Fleet Africa.<\/p>\n

Under the leasing agreement, MetroTrans<\/strong> will lease the buses for a period of four (4) years after which they will be sold to individual Sacco members including drivers.\u00a0 This empowers the Sacco members to own matatus<\/em> which they would otherwise not have been able to acquire.<\/p>\n

Co-op Bank<\/strong> is the first bank in Kenya to offer leasing services to the matatu<\/em> sector.<\/p>\n

\"\"<\/a>
The Managing Director of Isuzu E.A.,Rita Kavashe hands over the keys to Mr. Oscar Rosana, CEO MetroTrans Sacco while edward Mutwaruhiu, Head of Sacco Banking at Coop (right), and Mr. John Mathu Njoroge, Chairman MetroTrans Sacco looks on.<\/figcaption><\/figure>\n

MetroTrans is one of Kenya\u2019s leading transport Sacco’s, with investments in PSV transportation, logistics and supplies.<\/p>\n

The Sacco has been in operation since 2011 and currently operates 51-seater, 33-seater and 14-seater matatus on various routes within Nairobi including Nairobi \u2013 Utawala, Nairobi \u2013 Kabiria , Nairobi \u2013 Kawangware and Nairobi \u2013 Kasarani \u2013 Mwiki. They have also expanded their operations to Bomet.<\/p>\n

Speaking at the launch held at Isuzu Head Office in Nairobi the Chairman of MetroTrans Sacco, Mr. Oscar Rosana, lauded the partnership between MetroTrans Sacco and Co-op Bank that enabled acquisition of the new fleet of buses, which will significantly boost the income of Sacco members.<\/p>\n

\u201cThe acquisition of these buses is timely, as it will improve the incomes of our members by addressing the increase in demand we have experienced in recent times. Furthermore, our partnership with SWVL to provide cashless payment solutions is consistent with Government guidelines intended to minimize the use of cash in favor\u00a0of cashless transactions in an effort to reduce the risk of spreading COVID-19\u201d.<\/em><\/p>\n

Speaking at the same function, the Director of Co-operatives Banking at Co-op Bank, Mr. Vincent Marangu said,<\/p>\n

\u201cCo-op Bank is the preferred choice for PSV companies and Sacco\u2019s since we understand their business model very well and have the right solutions to cater for their needs. We have a dedicated Transport and Housing Co-operatives department that supports over 900 transport companies and Sacco’s\u00a0with working capital, payment and collection solutions to assist them effectively manage their fleets\u201d.<\/em><\/p>\n

He further adds: \u201cThis year alone we have approved financing for over 200 PSV vehicles<\/strong> worth Kes 870 Million<\/strong>, through asset finance and leasing. We are proud to be the first bank in Kenya to offer this service to matatus and look forward to more Sacco\u2019s taking it up.\u201d<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

MetroTrans Sacco, one of the leading PSV transport Sacco\u2019s operating in Nairobi, has today received 45 new buses at Isuzu East Africa with financing from Co-op Bank in form of a lease worth Kes 225 Million. The lease will enable the Sacco to respond to increased demand in their existing routes, and to also serve […]<\/p>\n","protected":false},"author":6067,"featured_media":614,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[25,730,788],"class_list":["post-613","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sponsored","tag-coop-bank-news","tag-coop-bank-vehicle-finance-scheme","tag-metrotrans-sacco-news"],"yoast_head":"\nMetroTrans Sacco acquires 45 brand new buses in a financing deal with Co-op Bank - Ghafla! 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