Vivo Energy Kenya, the official distributor of Shell products and services in the country, has announced a strategic partnership with RentWorks East Africa to acquire 69 state-of-the-art Hyundai Tucson SUVs for its sales teams.
The four-year agreement marks a significant milestone amid the current challenges in the Kenyan automotive market.
The collaboration involves several key players, including Caetano Kenya, which will oversee the maintenance of the vehicles; Stanbic Bank, the financial partner for the deal; and Heritage Insurance, responsible for insuring the fleet.
During the handover ceremony, the stakeholders highlighted Hyundai’s persistence and achievements in navigating the complex automotive landscape in Kenya, particularly given the prevailing market conditions that have seen a decline in new vehicle sales due to high import duties, competition from affordable second-hand vehicles, restricted financing options, and fluctuating government policies.
Aurelien Glay, Managing Director of Caetano Kenya, emphasized the significance of the delivery.
“Our ability to support large-scale projects underscores the strength of the Caetano Group. We are proud to have delivered a fleet that meets the high standards of a respected company like Vivo Energy Kenya,” he stated.
This fleet represents the largest deal in Caetano Kenya’s history and showcases the increasing approval of the Hyundai brand in the region, according to Silvanus Wambua, Fleet Sales Manager at Caetano Kenya.
Peter Murungi, MD of Vivo Energy Kenya, expressed confidence in the partnership and the quality of the vehicles. “This collaboration enables us to access 69 state-of-the-art vehicles that will enhance our operational continuity. Together with RentWorks East Africa, Caetano Kenya, Stanbic Bank, and Heritage Insurance, we have invested in vehicles that meet all safety requirements,” he noted.
Johan Taljaard, Executive Director of RentWorks East Africa, emphasized their commitment to providing exceptional vehicles to support Vivo Energy’s business needs. “We are thrilled to expand our partnership with Vivo Energy Kenya and committed to delivering top-tier vehicles that drive their success,” he said.
The deal was financed by Stanbic Bank, with CEO Dr. Joshua Oigara highlighting the bank’s dedication to fostering client relationships and supporting growth through tailored financial solutions.
“This partnership showcases our capability in vehicle asset financing and leasing in Kenya,” he added.
Heritage Insurance’s MD, Rosalyn Mugoh, pointed out the importance of comprehensive insurance for the fleet. “Our motor private comprehensive insurance empowers partners to operate with confidence, ensuring robust protection against unforeseen risks,” she remarked.
