RentCo East Africa Ltd. in Complete a 100million (USD) Motor Vehicle lease deal

RentCo Eat Africa a leading independent leasing firm in Kenya partners with motor car dealers, CMC, Urysia Subaru Kenya motor car dealers to lease over 1100 vehicles to the national government of Kenya in a 100 million (USD) deal on a back to back leasing program. This is an arrangement whereby the motor dealers sales the vehicles and then lease back the motor vehicles from RentCo and thereafter on leases to the sub lessee in this case, being the National Government. These vehicles will be delivered to the various department of the government. The first phase has seen over 300 vehicles handed over to treasury, NTSA, prisons and National police.

The Government vehicle Lease Program was launched in 2013 and is aimed at boosting the service delivery of the National government with a target of close to 10,000 vehicles.

These vehicles will be distributed to the various government agencies with the majority going to the national police.

The leasing industry in Kenya, and indeed the region, is consistently growing, with the total leases estimated to be worth of billions Kenya Shillings. Focus is shifting away from buying to leasing as a way of cutting spends by governments and organizations, while delivering much needed service more effectively. The vehicle dealers service and maintain the vehicles throughout the period of the lease

Leasing is a redeemer of the dwindling economies and raising coast of living

RentCo COO Henry Emuye lauded this move saying leasing is a global best practice of market penetration and growth. He further expressed optimism that the company was in the right track with a robust business strategy that is aimed at providing innovative products and quality services to all its customers.


RENTCO EAST AFRICA LIMITED
RentCo East Africa Limited is an independent leasing limited company that provides off and on balance financing through tailored and customized leasing products to both the private and public sector in Kenya and the sub-Saharan Africa.

For more information please contact:
Faith Mauta | Head of Communications  | RentCo East Africa Ltd.

faith.mauta@rentco.co.ke | 0721474652

July 13th, 2016