NAIROBI, Kenya, Jun 30 – Bank of Africa (BOA) Kenya, Ganatra Plant and Equipment, the sole authorised JCB dealer in Kenya and Uganda, have signed a Memorandum of Understanding committing to provide construction and agricultural businesses with asset financing covering up to 90 per cent of the cost of new machinery over a 60-month repayment period.

📻 Breaking It Down

The agreement, formalised at a ceremony in Nairobi, represents the most structured financing arrangement Ganatra has entered into with a Kenyan bank since the family-owned dealership was established in 1982.

It signals a strategic shift away from outright cash sales toward finance-enabled access at a time when Kenya’s infrastructure pipeline is expanding faster than local contractors can capitalise on equipment.

Kenya’s construction equipment market is projected to grow at a compound annual rate of 5.5 per cent between 2025 and 2032, according to sector analysts, driven by government investment in roads, housing, and energy infrastructure, as well as projects under Vision 2030. The southern region, anchored by Nairobi, continues to account for the largest share of equipment demand.

📌 What You Need to Know

Yet for most small and mid-sized Kenyan contractors, participation in this growth has been constrained by the capital cost of acquiring premium machinery.

JCB is ranked among the world’s top three construction equipment brands by global sales.

Sells machinery that ranges from backhoe loaders and excavators to telehandlers and has a hold on agricultural equipment, all at price points that have historically required either full cash payment or access to specialised equipment finance.

Ganatra, with over four decades of exclusive distribution rights for JCB across Kenya and Uganda, operates branches in Nairobi, Mombasa, Eldoret, Nakuru, and Kampala.

The company’s footprint makes it the primary gateway for JCB machinery into the East African market. Globally, JCB holds roughly 85 per cent of the backhoe loader market and around 90 per cent of the telehandler segment.

Under the BOA-Ganatra arrangement, qualifying customers will be able to access financing equivalent to 90 per cent of the purchase price of JCB equipment, with the remaining 10 per cent payable as a deposit.

📰 Source: Capital FM Kenya