Vehicle importers tap new financing model in Absa–World Navi pact

NAIROBI, Kenya, Apr 20 – Vehicle importers are set to benefit from a new financing and sourcing arrangement between Absa Bank Kenya and Japan-based exporter World Navi, targeting long-standing constraints in direct car imports such as high upfront costs and fragmented logistics.

The partnership links Absa’s asset-based lending with World Navi’s vehicle supply chain, allowing importers to access credit while sourcing units from Japan through a single channel.

The move is expected to streamline a process that has often been marked by multiple intermediaries, unpredictable shipping costs and delayed delivery timelines.

“A growing number of Kenyans are opting to import vehicles directly from Japan due to the availability of high-quality units, competitive pricing, and a wider range of models. However, the process has traditionally been complex, often involving high upfront costs, fluctuating shipping expenses, and extended delivery timelines,” said Renato D’souza, Absa Bank Kenya Business Banking Director.

“Through this partnership, we are seeking to address these challenges by offering an integrated solution that combines trusted vehicle sourcing with tailored financing support.”

Under the arrangement, importers can access financing that covers both vehicle acquisition and shipping costs, reducing the need for large upfront capital outlays.

This is expected to improve cash flow management for small businesses and independent dealers who dominate Kenya’s used car import market.

The structure also introduces high loan-to-value ratios across different vehicle categories, including full financing for lower-value personal units and extended repayment periods.

Additional working capital support is bundled into the offering, signaling a push by lenders to capture growing demand in the automotive import segment.

World Navi Managing Director Yoshifumi Sawada said the collaboration combines supply and financing into a single framework.

“This partnership with Absa Bank Kenya not only expands access to high-quality vehicles for individuals, SMEs, and corporates, but also sets a new standard for industry by integrating financing and supply into one streamlined solution that prioritizes reliability, transparency, and value.”

Kenya’s vehicle import market has increasingly shifted toward direct sourcing, particularly from Japan, driven by pricing advantages and wider model availability.

However, access to financing and concerns over quality assurance have remained key barriers for many buyers.

The partners say their model attempts to address these gaps by tying credit to verified supply, including pre-shipment inspections and standardized quality checks.