The lender has backed a $4.44 million (about Sh575 million) fleet expansion by logistics firm Beyond Continents Logistics Limited. SBM Bank general manager,trade and transactional banking, Dennis Nyakundi and Beyond Continents Logistics Ltd staff Lawrence Ndushabandi flag off the brand-new fleet of 50 heavy-duty Shacman Prime Movers fitted with Bhachu trailers acquired under a $4.44 million deal to boost cross-border logistics in East Africa/ HANDOUT SBM Bank Kenya is turning to asset financing to power East Africa’s supply chains.
The lender has backed a $4.44 million (about Sh575 million) fleet expansion by logistics firm Beyond Continents Logistics Limited as it positions itself to tap growing cross-border trade. The financing has enabled the company to acquire 50 new heavy-duty Shacman prime movers fitted with Bhachu trailers, boosting its haulage capacity to serve importers, exporters and other businesses operating across regional trade corridors.
The deal underscores the bank’s strategy of combining the international banking expertise of its Mauritius-based parent, SBM Group, with local market knowledge to finance businesses supporting trade, transport and logistics across East Africa. It also highlights the role of commercial banks in financing productive assets needed to move goods efficiently, as regional economies seek to deepen trade under the African Continental Free Trade Area (AfCFTA).
Speaking during the fleet flag-off ceremony, Eric Wambua, director of corporate and institutional banking at SBM Bank Kenya, said flexible financing was critical for businesses seeking to expand their operations and respond to rising demand. “Access to flexible asset financing remains a critical catalyst for scaling businesses in Kenya and the wider region.
Our objective is to enable enterprise growth by offering financial solutions designed around business cash cycles,” he said. The bank structured the facility under its small and medium-sized enterprise (SME) asset finance offering, providing up to 100 per cent financing for new units and repayment terms extending to 720 days.
The arrangement also includes commercial vehicle insurance coverage spread over 10 months, a structure intended to ease upfront cash-flow pressures as the logistics company integrates the additional trucks into its operations. Lawrence Ndushabandi of Beyond Continents Logistics said the acquisition would strengthen the company’s ability to handle growing import and export volumes.