Metrotrans Sacco, one of the leading Nairobi based PSV transport Saccos has today received 45 new buses at Isuzu East Africa with financing fromCo-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 their customers better by offering cashless payments enabled by technology company SWVL that allows users to make and track bookings through the SWVL app.
The buses were financed through Co-op Bank’s leasing arm – Co-op Bank Fleet Africa. Under the leasing agreement, Metrotrans will lease the buses for a period of four (4) years after which they will be sold to individual Sacco members including drivers.
Co-op Bank becomes the first bank in Kenya to offer leasing services to the matatu sector. MetroTrans is one of Kenya’s leading transport Saccos, with investments in PSV transportation, logistics and supplies.
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 – Utawala, Nairobi – Kabiria , Nairobi – Kawangware and Nairobi – Kasarani – Mwiki. They have also expanded their operations to Bomet.
Speaking at the launch held at Isuzu Head Office in Nairobi the Chairman of MetroTrans Sacco, 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.