SBM Bank Kenya has launched a KES 1 billion Green Finance Facility, giving consumers and businesses a direct credit line to transition into electric and hybrid vehicles.
The fund runs for 12 months. It targets the single biggest obstacle to EV adoption in Kenya: the upfront cost. By making financing accessible, the bank positions itself as an active participant in the country’s push to cut carbon emissions by 32% by 2030, rather than a passive observer of it.
SBM Bank invested KES 45 million to replace part of its own vehicle fleet, taking delivery of five BYD plug-in hybrid electric vehicles through a leasing arrangement with CFAO Mobility Kenya. The fleet comprises one BYD Shark 6 pickup and four BYD Sealion 6 SUVs, marking the first corporate deployment of these specific models in Kenya.
“Our goal is to catalyse a national shift,” said Bhartesh Shah, CEO of SBM Bank Kenya. “While we are proud to modernise our own logistics with this fleet, our primary mission is to enable our customers to do the same. By committing KES 1 billion in financing, we are ensuring that sustainable mobility is an accessible reality for Kenyan entrepreneurs and families, not just a corporate concept.”
The bank’s decision to adopt the same vehicles it now finances matters. It signals that the green transition the bank is funding for customers is one it has already stress-tested on its own operations.
Nicolas Ruffier des Aimes, General Manager of BYD by CFAO Mobility Kenya, welcomed the direction. “This collaboration sets the stage for future EV fleet transactions and expanded adoption of electric and hybrid vehicles, including the development of supporting services such as charging solutions, fleet management, and lifecycle optimisation. Our goal is to build an ecosystem that supports Kenya’s green mobility ambitions while delivering measurable value.”
The launch draws on a period of strong financial recovery at SBM Bank. The bank recorded a Profit Before Tax of KES 614 million and a 55% rise in total operating income, giving it the capital base to fund ESG commitments at scale. The KES 1 billion credit line reflects the bank’s stated intent to align financial growth with climate action, treating Kenya’s national emissions targets as a business opportunity rather than a compliance obligation.
Avenue Lease & Rentals EA, which facilitated the fleet transaction, also took delivery of the vehicles on the same day, with the fleet designated for leasing to SBM Bank Kenya.
