A growing number of Kenyan companies are opting to lease vehicles rather than purchase them outright as businesses seek to preserve cash, improve operational efficiency and adapt to a more challenging economic environment.
The shift is increasingly evident among large corporations, with Rubis Energy Kenya becoming the latest company to expand its use of leased fleet assets under a partnership with NCBA.
On Wednesday, June 17, NCBA handed over 24 Chery Tiggo vehicles to Rubis Energy Kenya as part of a wider fleet management arrangement that sees the bank lease and manage 72 passenger and commercial vehicles for the energy company.
The arrangement reflects a broader trend among businesses seeking to reduce the capital burden associated with owning and maintaining large vehicle fleets while ensuring operational continuity.
According to NCBA, the fleet management structure allows companies to redirect capital into core business operations while outsourcing vehicle management, maintenance and replacement cycles.
Speaking during the handover ceremony, NCBA Bank Kenya Managing Director James Gossip said businesses are increasingly looking for financing models that support growth while improving capital efficiency.
“Our relationship with Rubis Energy Kenya is built on more than two decades of trust, shared growth and a commitment to creating long-term value. Over the years, we have evolved from a banking provider into a strategic partner, supporting the business through tailored financial solutions that enable operational efficiency and sustainable growth,” he said.
He added: “We do not approach our clients with predefined products. We structure solutions around each customer’s operating model, industry dynamics and growth ambitions. This is what allows us to deliver long-term value beyond financing.”
The growing preference for leasing comes as businesses contend with rising financing costs, exchange rate pressures and changing consumer behaviour, factors that have pushed many firms to adopt asset-light operating models.
Rather than tying up significant amounts of capital in vehicle purchases, companies are increasingly choosing structured financing arrangements that spread costs over time while improving flexibility.
The trend is particularly visible in sectors such as energy, logistics, distribution and manufacturing, where mobility remains critical to day-to-day operations.
For Rubis Energy Kenya, whose operations span more than 300 service stations and thousands of commercial and industrial customers across the country, maintaining a reliable fleet is essential to serving customers and supporting field operations.
Rubis Energy Kenya Managing Director Frederic Maupetit said the renewed fleet would directly support employees responsible for delivering services across the company's nationwide network.
“At Rubis Energy Kenya, our mission is to serve our customers well. That sounds straightforward. But behind it is a network of more than 300 service stations and thousands of commercial and industrial customers, spread across this country, each one requiring daily attention,” he said.
“These vehicles are for them. This is a direct investment in the people who carry the Rubis name onto the roads of Kenya every single day. Better tools mean better service. And better service is what our customers deserve.”
Industry players say leasing is becoming an increasingly attractive option for businesses looking to scale without committing significant capital to depreciating assets.
The arrangement between NCBA and Rubis, which dates back to 2004, demonstrates how corporate fleet leasing is evolving from a financing option into a broader operational strategy, allowing companies to maintain mobility while focusing resources on business growth.
As Kenyan firms continue to prioritise efficiency and financial flexibility, leasing is expected to play an increasingly important role in corporate fleet management across key sectors of the economy.
