Absa Bank has just unveiled a new asset financing proposition in Kenya. It aims to deploy KES 100 billion over the next three years.
Dubbed ABF 2.0, this enhanced offering is targeted at key sectors of the Kenyan economy including manufacturing, trade and logistics, infrastructure, healthcare and education.
At the core of the new proposition is a shift toward faster, simpler and more predictable financing. Absa says it has restructured its financing parameters to better align with how assets are actually used and how different sectors generate cash flow. This is expected to reduce friction in the financing process and enable customers to move from decision to deployment more efficiently.
The bank has reduced onboarding-to-approval timelines from 10 days to just 48 hours. Approval-to-disbursement now takes up to 72 hours. Additionally, pre-approval steps have been cut by more than half—from 13 to six.
Loan tenors now extend up to 84 months for select asset classes. Assets covered under the program include school buses, personal vehicles (both new and imported), medical equipment, agricultural machinery and solar solutions.
According to Abdi Mohamed, Managing Director and CEO of Absa Bank Kenya, the initiative reflects a broader commitment to enabling economic growth through practical financial solutions.
“This refreshed offering reflects our commitment to supporting productive enterprise across Kenya’s key value chains. By ensuring capital moves more efficiently to where it is most productive, we are enabling individuals and businesses to invest, expand capacity, and compete with greater certainty,” he said during the launch event in Nairobi.
To support execution, the bank has also established a dedicated Asset Financing Centre. The facility brings together specialized expertise, sector-aligned credit assessment, and coordinated execution teams to enhance service delivery and improve customer experience.
Business Banking Director Renato D’Souza noted that ABF 2.0 is built directly from customer feedback and operational realities.
“By simplifying processes, strengthening our parameters, and investing in specialist capability, we are making asset acquisition easier to navigate and faster to execute across key value chains. It is a practical demonstration of our ‘We Get It’ mindset,” he said.
The revamped proposition is further supported by an expanding network of local and international asset partners, allowing financing to be closely integrated into acquisition journeys across sectors such as transport, agriculture, manufacturing, construction, healthcare, and renewable energy.
For these and more stories, follow us on X (Formerly Twitter), Facebook, LinkedIn and Telegram. You can also send us tips or reach out at [email protected].
Also Read: Airtel Money and Absa Partner to Enable Seamless Wallet-to-Bank Transfers for SMEs in Kenya
