CFAO Mobility Kenya has signed a partnership with Sharia-compliant Almasi Financial Services Limited to boost the transport and logistics sector by offering entrepreneurs affordable access to heavy commercial trucks.
The financing package covers a range of robust vehicle models, including Mercedes-Benz Trucks and Buses, Hino, and Sinotruk. Under the deal, customers can access up to 90 per cent financing, repayable over 60 months at competitive rates.
“Through this arrangement, our customers will not only enjoy a convenient payment plan but also a simplified, accessible path to acquiring critical business assets, with a Sharia-compliant financing partner. This is an empowering offer that speaks directly to the entrepreneurial spirit driving our economy forward,” said Joshua Anya, CFAO Mobility Kenya Deputy Managing Director.
Islamic finance—while forbidding interest payments and speculative trading—has been steadily growing across Africa, the Middle East, and Southeast Asia. However, the sector remains fragmented, with regulatory frameworks applied inconsistently across jurisdictions.
According to FSD Africa, the industry’s total assets reached $4.5 trillion in 2022, driven by expanding adoption and increased standardisation. Projections indicate the figure will surpass $9.75 trillion by 2029.
Almasi Financial Services Limited CEO, Ismail Soliman, described the partnership as “powerful” and said it marks a strategic move into Sharia-compliant financing. The deal, he noted, is structured to deliver tangible value by making asset acquisition more accessible and sustainable.
“This new cooperation marks a significant step toward serving customers in Kenya who may not have access to conventional sources of finance, while allowing us to reach untapped segments of the Kenyan market. Our facilities will be competitively priced compared to existing alternatives and can be tailored to suit the unique nature and cash flow realities of each business,” said Soliman.
As one of the country’s leading providers of mobility solutions, CFAO Mobility Kenya plays a key role in enabling easier access to a wide range of commercial vehicle brands nationwide.
