Africa Automotive July-August issue 2022

News
July-August issue l 2022
Ashok Leyland channel partner Deluxe Trucks and Buses inks
agreement with Kenya Commercial Bank for vehicle financing
Ashok Leyland’s authorized
distributors, Deluxe Trucks and
Buses in Kenya have signed
a partnership with Kenya
Commercial Bank to jointly promote
the Ashok Leyland Brand of Vehicles.
Kenya Commercial Bank (KCB) is one
of the largest financial institutions in
the region offering an array of services.
Ashok Leyland customers will now
be able to access flexible financing
options in a deal from Kenya
Commercial Bank. The partnership
will see customers enjoy up to 95%
financing with an extended repayment
period of 72 months as well as a
comfortable 60-day payment holiday.
Mr. Amandeep Singh, Head
International Operations for Ashok
Leyland expressed his pleasure at the
tie up and noted that, “Ashok Leyland
Trucks and Buses has a wide future
ready portfolio in commercial vehicle
categories ranging from 2.55 Ton GVW
6 Africa Automotive News l 2022
to 55 Ton GVW and buses suited for
all applications. The Ashok Leyland
range of vehicles offers the best-inclass
mileage in all these categories.
This partnership with KCB will enable
customers to avail financing options
to purchase Ashok Leyland commercial
vehicles at industry best terms and
conditions.”
Speaking during the event, KCB Bank
Director of Corporate Banking, Esther
Waititu said, “We are delighted to
partner with Deluxe Trucks & Buses,
for financing Ashok Leyland products.
It is a reflection of our commitment
to supporting key customers to derive
value from their long-standing loyalty.”
On his part, Deluxe Trucks & Buses
E.A. Managing Director, Mr. Ameet
Shroff said, “The partnership targets
individuals, Small Medium Size
companies, and large commercial
businesses for flexible financing of up
to 95% of the vehicle cost. Delivering
uptime to customers is our key
objective and we will ensure that our
customers are continuously served
with complete satisfaction.”
Nord Motors, UNILAG sign agreement to build Africa’s first
on-campus auto plant
Nord Automobiles Limited,
an indigenous automobile
company, has signed
a memorandum of
understanding with the University
of Lagos (UNILAG) to establish
an automobile assembly and
manufacturing hub in the institution.
The signing of the MoU is a bold step
in the right direction that is positioned
to further intensify the university’s
quest to equip students with all the
necessary skills before graduation, said
Oluwatoyin Ogunleye, vice chancellor,
University of Lagos.
Ogundipe said that this would also
stimulate research and development
activities in the area of automobiles
among members of staff, adding
that any nation with the quest for
development must look inward.
“This is the first time any university is
bringing an automobile company into
its campus in Africa. What this means
to us, therefore, is that they will start
assembling the car in this University of
Lagos, putting into consideration the
economic situation of this country,” he
said.
Ogundipe expressed delight that
with the coming of the auto plant,
Engineering students of the university
would be able to gain first-hand
experience, but also students of
Architecture, Finance, Marketing, as
well as those in Creative Arts.
Oluwatobi Ajayi, chief executive
officer, NORD Automobiles Limited,
expressed delight at the development,
noting that it was his little way
of contributing to the country’s
development.
According to him, there is a need
to continuously encourage the
youths, especially students in
tertiary institutions, by making them
understand that they have a future
in engineering especially. The NORD
boss said that in two months’ time,
the company would be establishing
the assembly plant, as well as an
ultra-modern showroom, to be
commissioned by the vice chancellor.
“I have always believed in Nigeria
and in the great talents and natural
resources therein. I will not stop at
doing anything within my disposal
to make Nigeria a pride before the
entire world. It is time for us to
come together to return Nigeria to a
producing nation and not a consumer
nation,” he said.