SBM Bank Launches Sh1bn Green Finance Facility for EVs
SBM Bank Kenya has launched a Sh1 billion Green Finance Facility to accelerate the adoption of electric and hybrid vehicles.
The facility, available over the next 12 months, provides consumers and businesses with credit to transition to eco-friendly mobility.
The bank said lowering financial barriers to entry would help reduce Kenya’s carbon footprint and support a sustainable, zero-emission future.
To lead by example, SBM Bank has invested Sh45 million to modernise its own logistics.
Through a leasing partnership with CFAO Mobility Kenya, the bank has taken delivery of five BYD vehicles for its fleet.
Bhartesh Shah, CEO of SBM Bank Kenya, said the bank’s goal is to catalyse a national shift towards green mobility.
“While we are proud to modernize our own logistics with this high-performance 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,” Shah said.
The bank has adopted the BYD Shark 6 and Sealion 6 models for its own fleet.
SBM Bank said the move supports Kenya’s goal of reducing carbon emissions by 32 percent by 2030.
Nicolas Ruffier des Aimes, GM of BYD by CFAO Mobility Kenya, said the collaboration sets the stage for future EV fleet transactions and expanded adoption of electric and hybrid vehicles.
“Our goal is to build a sustainable ecosystem that supports Kenya’s green mobility ambitions while delivering measurable value,” Ruffier des Aimes said.
He said the partnership would also support the development of services such as charging solutions, fleet management and lifecycle optimisation.
The initiative follows a year of strong financial performance for SBM Bank.
The lender posted a Profit Before Tax of Sh614 million and a 55 percent rise in total operating income.
SBM Bank said the Sh1 billion credit line reflects its strategic intent to combine financial growth with responsible corporate citizenship as it supports Kenya’s national climate action plan.
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