Archives for Press releases

    Leasing firm rolls out electric and solar vehicles

    VAELL Staff celebrates Electric Tuk-tuk Arrival

    UTU Electric Tuk-tuks arrive at the VAELL Yard at Buffalo Mall, Naivasha – Kenya.


    The firm is involved in leasing and selling new solar and electric powered automobiles dubbed ‘Utu’ distributed by its partner brand: It’s Electric Limited which is a dealer of modern electric vehicles (EVs) and charging stations. This comes in as the Kenyan government seeks to introduce electric bus units for the Nairobi capital BRT system.

    Installation of solar and electric vehicle charging stations

    The leasing firm has already installed solar and electric vehicle charging stations in various hubs, more notably a new charging port at the Buffalo Mall in Naivasha, where the lessor is headquartered.  Naivasha is renowned worldwide as Eastern and Central Africa’s clean energy capital with renewable electricity at its peak in the region. The firm is set to install more solar and electric charging stations in various places around the country for the public convenience such as residential buildings and shopping malls.UTU CB1 MODEL TUK-TUK

    Speaking while receiving the recent batch of electric and solar automobiles that included Saloon cars, Motorcycle and Tuk-tuks from China, the firm’s Group Head of Finance, Ms. Catherine Mutua said, “the contest against environmental pollution is of uttermost urgency and we need environmental vanguards ready to go the extra mile at this initial adoption and transition phase. As we are setting the pace and leading the way, we are planning to invest at least Kes. 2 billion in the next few years to spur the uptake of EVs especially through our asset finance programs. As we speak we have already injected Kes. 100 million in importation of the eco-friendly automobiles and some have already been shipped and are in our yards ready for uptake. In the next 36 months we are looking at having about 2,000 units of electric and solar powered automobiles here for the Kenyan market, and we will also cascade the same in other countries we operate in such as: Tanzania, Uganda, Zambia, Rwanda and DRC.”

    VAELL Honored for its innovation

    Due to its various innovations the firm has been honored by various awards including the Key Industry Leadership recognition program dubbed ‘Pacesetters Awards Kenya’ organized by Jubilant Stewards of Africa (JSA) which recently honored the firm for setting the pace in Electric and Solar automobiles.

    Electric Vehicles are much cheaper to run based on fuel costs alone. When maintenance costs are factored in, going electric starts becoming a uniquely more attractive option, this because; brake systems tend to last longer than on conventional vehicles, and electric vehicles (EVs) have fewer fluids to change, and far fewer moving parts to maintain. As the globe grapples with climate change, carbon emissions, low-level motorization and increased congestion, Kenya is set to shift the paradigm through electric vehicles.

    VAELL advocates for incentives to spur the uptake of EVs

    The regional lessor VAELL has been in the forefront advocating for incentives to spur the uptake of EVs.  Earlier the firm asked the Kenyan government to evaluate the incentives offered, to encourage the use of EVs in the reduction of pollution and to help combat climate change. The Naivasha headquartered lessor suggested a 100% tax exemption for electric automobiles minimizing the price gap with conventional vehicles. These inducements apply to the local batteries and car assembly, importation and installation of EVs and their infrastructure.UTU OB1 MODEL TUK-TUK

    With the adoption and production of electric vehicles (EVs) taking off globally due to improvements in technology and the declining cost of lithium-ion batteries, the African continent now has a better opportunity to unlock the full potential of electric mobility. Kenya is well set to become the region’s hub for electric vehicle solutions and assembly, with major online cab hailing brands in the country gearing towards EVs.

    Kenya’s position as a global leader in renewable energy, its wide technological adoption, and the government’s push for electric vehicles through friendly policies are a major boost for EV uptake and early adoption. Over 70% of Kenya’s electricity comes from renewable energy today. This means in the global push to actualize electrified transit in the world, embracing electric vehicles early will be of greater impact for the country.

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    Construction firms to benefit from entry of German equipment maker


    Construction firms are set to benefit as the German leading manufacturer of compact and construction machines, Wacker Neuson Proprietary Limited, enters into a distribution and dealership agreement with the regional leasing firm, Vehicle and Equipment Leasing Limited (VAELL). This comes as the manufacturer seeks to grow their dealer network and be closer to the customer as Africa speeds up infrastructure development projects fronted by governments and private investors. In the arrangement the leasing firm will market, sell construction and mining equipment manufactured by the German firm. The leasing firm will support the German Equipment maker in Kenya and countries where it has presence such as Uganda, Tanzania, Burundi, Democratic Republic of Congo (DRC), Rwanda and Zambia. In the arrangement, the equipment-sharing platform, Quipbank Trust Limited, has been earmarked as the sub-distributor of the Naivasha headquartered firm. The manufacturer currently has an outlet in South Africa that will work hand in hand with the new East African dealer. The new dealership is expected to increase the lessor’s variety of our products (equipment) as it also invests heavily in dealerships, in addition to its leasing specialization.  

    “The dealership is strategic for us as it will grow our equipment catalogue and help deliver great customer service to the construction industry that is currently growing in the region with high demand for modern construction equipment. With this new signing, we will be able to meet various requests that have increased in the recent days and further solidify our commitment to delivering customer value and product innovation. We remain optimistic of tremendous growth opportunities in the continent,” said Bertha Mvati MD for VAELL Kenya.

    The growing construction and mining sector in the region has created the need for modern construction equipment that are specific for the task. Gone are the days where a contractor used to work with one equipment that will perform almost every need in the construction site. With this in mind every contractor is shopping for suitable equipment that will make their work easier, cost savvy and efficient. This has attracted various equipment manufacturers that have pitched tents in Africa.

    According to the statement sent to the newsroom, the lessor shall purchase the machines from the manufacturer and then market and sell them in its own name and on its own behalf in the markets they operate in. This dealership will be a vital step in strengthening the construction equipment industry as it will see contractors and miners’ access Light Equipment and Compact Equipment that are currently very scarce in this particular market like rammers, wheeled excavator, vibratory plates, rollers, soil compactors main content light towers and light balloons for outdoor illumination. The availability of these machinery will result in easy access to modern equipment, better cost management and increased efficiency.   Developments in new construction technology have always driven construction forward. Construction firms are equipped to build stronger, taller, and more energy effective structures with less cases of accidents like before. Modern equipment like these has made construction sites safer and workers more efficient. It has escalate output, advanced teamwork, and handle projects that are more complex.

    While commenting on the dealership, Ivaney Turyasingura, Quipbank’s Regional Sales and Fleet Manager said, “The new dealership and distribution agreement is part of our focus on ceaseless efforts to support the construction industry in the Eastern Africa. The availability of modern construction technology and processes will also help improve efficiency and workplace safety. We will continue to provide the best possible solutions and expand our reach to meet the needs of all the aspiring construction customers.”

    According to industry pundits, the mining and construction equipment industry in the continent is currently evolving and experiencing a steady transformation as it grows from a low volume, intensive use of modern equipment to high volume of special purpose equipment. The uptake of the equipment is expected to grow as people embrace technology and shun manual labour. The advantage of using special purpose equipment is to minimize likelihood of human error and decreases human fatigue during repetitive tasks.

    Wacker Neuson, the world-class leader in construction and mining machinery, says they will work together with the East African partner to provide solutions and ensure customers have access to the best technology that will reduce drudgery at the workplace.  

    The Managing Director of Wacker Neuson Sub-Saharan Africa, Dennis Vietze, said, “ as part of our strategy for growth and being near to the consumers we are working with our East African counterpart to help us serve this particular market. When we move close to customers, we are able to appreciate market needs and therefore develop best solutions that will fit the ideal scenarios. This will also help us lessen lead times due to faster and easy access to products and spares, ensuring optimised productivity for our customers. Our customer-centric approach allows for the product to reach the customer in an efficient manner regardless of location.”

    About The Wacker Neuson Group

    The Wacker Neuson Group is a leading manufacturer of compact and construction machines. They offer customers a broad product range and extensive services rendered worldwide. Since their founding in 1848 – at the time still known under the name “Wacker” – they have grown into an internationally operating group of companies with a dense worldwide sales and service partner network. Their reputation is essentially determined by the actions, appearance and behaviour of every individual. As diverse as the employees of Wacker Neuson may be, the basis of action is always to make a consistent and sustainable contribution to the future.  


    Vehicle and Equipment Leasing Limited (VAELL) is the market leader in asset leasing, maintenance and consulting in Eastern and Central Africa region. It has presence in the automobile, healthcare, mining, agricultural, telecommunication, construction, gas and oil sectors. It has managed to diversify and expand its portfolio by offering customized solutions to suit every client’s requirement and need. VAELL, the leading provider of integrated leasing services for a broad range of moveable assets and machinery across the region, has geographical coverage with fully-fledged subsidiaries in Uganda, Rwanda, Tanzania and Zambia. The leasing firm has a correspondent relationship with other leasing companies in South Africa and India. It facilitates clients with vehicles and machinery throughout the region from any one-country office across its network.

    In 2014 VAELL won the award for the Best in Transport, in the Top 100 KPMG/Business Daily survey, and 2015 shot into Club 101 in the same survey. It has scooped 14 awards in the last 5 years. The leasing market leader was named in 2018 by East African Business Council Tanzania as the best East African Company in The Service Sector. The lessor has also been named in South Africa’s Titan Building Nation awards in the outstanding achievement category.

    VAELL was recently hosted by Nairobi Securities Exchange (NSE) onto its premium incubation and acceleration programme, Ibuka. VAELL also owns Quipbank Trust Limited, equipment sharing platform and TingA, East Africa’s largest tractor share platform.

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    Regional leasing firm, Vehicle and Equipment Leasing Limited (VAELL) has tapped Ms. Bertha Mvati from Zohari Leasing Limited, a subsidiary of Centum Investment Limited as the new Managing Director for Kenya. Ms. Mvati is expected to undertake commercial and operational roles. She brings over 10 years of leasing experience. Prior to her appointment, she was the Business Manager at Zohari Leasing Limited overseeing the company’s operations and strategy implementation. 

    She joins at a time when the lessor is set to launch new products in the market targeting the end consumer. VAELL is launching new products for the mass market to compliment the current products that targets mainly the corporate clientele. The new products are expected to boost the growth of the small business segment. This includes a massive US $ 5 Million investment in TingA, their flagship agriculture leasing brand. Ms. Mvati will be a focal point in the Kenyan market in commercializing leasing as well as offering a range of financial solutions for a broad range of clients.

    Commenting on her appointment, Ms. Mvati said: “I am looking forward to building on the efforts made by everyone in the company over the past few years, cementing our hard-earned reputation for service quality and working to grow the business from what is now a very sound base.”

    Before moving to Centum’s subsidiary, she was a member of VAELL’s senior management where she helped the lessor to emerge with a more consistent approach across all operating regions and a focus on quality of service. In 2014, she contributed to the lessor joining club 101 after being named first runner-up in the Top 100 survey, an initiative of KPMG and Nation Media Group that seeks to identify Kenya’s fastest growing medium-sized companies in order to showcase business excellence and highlight some of the country’s most successful entrepreneurship stories. VAELL has scooped 14 awards in the last 5 years. It first featured in Top 100 KPMG awards in 2012.

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    Lender ordered to pay Vaell Sh8m; legal tussle

    Jamii Bora Bank has been ordered to pay Vehicle and Equipment Leasing (VAELL) Sh8 million for interest it overcharged the firm on a loan.

    In the court ruling documents seen by The Standard, the court established that the lender had overcharged VAELL interest rates of up to 28 per cent – double the 14 per cent set by the law capping interest rate charged by financial institutions.

    According to the law, banks can be fined up to Sh. 1 million for charging loans at more than four percentage points above the base rate published by CBK.

    VAELL filed the case against Jamii Bora Bank in 2016 after the lender repossessed its assets leased to clients.

    The court established that the bank had failed to effect the new provision of the amendment of the Banking Act with respect to the interest rate and overcharged VAELL by Sh8.040 million.

    The bank was also found to have repossessed the assets VAELL leased to clients while the arrears were less than the excess interest.

    Milimani High Court Judge (Commercial and Tax Division) James Makau said the bank misled the court to believe that the rates it charged were as agreed in the agreement and that it was pre-determined, pre-calculated and agreed upon.

    This was after the court asked the Jamii to supply VAELL with a statement of accounts showing the interest rates the bank had charged the firm since September 14, 2014.

    “It was after the supply of the statements and subsequent reconciliation that it became apparent to the plaintiff that the bank had misled the court that the interest rates had been pre-calculated and that the bank had been verifying the interest rates and based on that discovery, the applicant preferred this application review.”

    The court ruled that the bank unlawfully attached VAELL’s assets and ordered it to return them.

    Justice Makau also ordered the bank to apply the lawful lending rate of 14 per cent on all the loan facilities that VAELL had with the bank.

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    VAELL considers Initial Public Offer

    Vehicle and Equipment Leasing Limited (VAELL) has initiated the process needed to go public in February 2019, a move that will help the leasing giant raise $10 million to strengthen its Asia and Southern Africa partnerships. The company has appointed a consultant to advice on the process. The listing will give the leasing market leader greater managerial autonomy to advance its own growth strategy. The amount of securities offered will be determined by market conditions and other factors at the time of the offering. The lessor will communicate the percentage of shares they will offer by end of January 2019 after the board’s approval. According to the companies audited accounts for financial year 2017, the lessor’s profitability was stable though its turnover decreased by 3.5% due to the political climate, however net profitability increased to 20% on a turnover of KES. 1.418 billion.

    VAELL also owns the Quipbank equipment sharing platform and TingA tractor sharing platform. TingA was recently quoted as having won contracts from EABL for sorghum growers in Nyanza. In 2017 TingA, East Africa’s largest tractor share platform, won a grant of $500,000 from Alliance for a Green Revolution in Africa (AGRA). TingA is VAELL’s youngest brand and they aim to use the IPO to expand that success into other industrial equipment. Quipbank has been recently quoted as having won tenders to build dams in Narok County.

    VAELL has consistently posted strong earnings and profitability and is leading in regional growth with subsidiaries in Uganda, Rwanda, Tanzania and Zambia. The leasing firm has a correspondent relationship with other leasing companies in South Africa and India. Asked about the secret of lessor’s success in the industry, the VAELL’s Chairman Joseph Kiiza said, “We attribute our success to God Almighty. We normally start with prayers every Monday morning, actively praying for our clients’ success and wellbeing. A successful client is a successful business”

    For further details and updates, please


    Jared Oundo,

    Corporate Communications


    Cell: +254 719408244/0774408244



    Vehicle and equipment leasing limited (VAELL) is the market leader in asset leasing, maintenance and consulting in Eastern and Central Africa region. It has presence in the auto mobile, healthcare, mining, agricultural, telecommunication, construction, gas and oil sector. It has managed to diversify and expand its portfolio by offering customized solutions to suit every client’s requirement and need. In 2014 VAELL won the award for the Best in Transport, in the Top 100 KPMG/Business Daily survey, and 2015 shot into Club 101 in the same survey. It has scooped 14 awards in the last 5 years. The leasing market leader was named this year (2018) by East African Business Council Tanzania as the best East African Company in service sector. The lessor has also been named in the South Africa’s Titan Building Nation awards in the outstanding achievement category.

    About Quipbank Trust Limited

    Quipbank Trust Limited (QB) is a short term rental firm established in 2014 as a subsidiary company to Vehicle and Equipment Leasing Limited (VAELL), a leading independent leasing firm in the region.

    QB stores and rents /sales out idle equipment on behalf of the owners through a shared resource use economic model. Further we deal with disposal of ex-lease as well as new dealer based equipment. Our clients include contractors, farmers, county governments as well as corporate entities.






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    There was a handover of ex-lease vehicles to a number of corporates and individuals at Quipbank’s yard, Buffalo Mall, Naivasha. Quipbank handed over the units to SMEs and individuals including KOBO Safaris Ltd among others. VAELL earmarked Quipbank as its ex-lease disposal partner to sell ex-lease cars direct to consumers.

    Quipbank has a fully-fledged ex-lease car disposal scheme, it’s highly sought after by SMEs as well as individuals because ex-lease car offers more flexibility, lower costs and ultimately allows the SME or the individual consumer to almost trade up a car. This, combined with having the full maintenance history of the car and affordable prices, enables clients to get more value with less capital.

    During the handover ceremony, Ms. Helen Nduta, the KOBO Safaris Limited head of operations said, “we were given opportunity to view the units prior to the purchase. So far so good, the process was very smooth. The vehicles are in good condition, they will ease our operations especially during these festive seasons. We plan to acquire more units as we expand our services. These land cruisers can withstand all weather roads and even access remote areas even during rainy seasons.”

    KOBO Safaris Ltd joins other key corporate bodies and SMEs which have benefitted from the mega sale in their bid to strengthen their position in regional markets. With such fairly priced equipment, companies are getting an opportunity to scout and obtain a range of equipment with ease without travelling expenses to distant show rooms.

    “Some of our vehicles are still at KVM and we are expecting them to be returned once the process is completed in the next few days,” said John Mogire, Quipbank Trust Limited’s commercial director.

    “Each client is unique and has unique needs. We have different products for different clients and we endeavor to create new products as need arises to meet their needs,” added Quipbank’s commercial director.

    For further details and updates please contact;

    Jared Oundo,

    Corporate Communications,


    Cell: +254 719408244/0780408244


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    Government leases vehicles through Vehicle and Equipment Leasing Limited. (VAELL)

    President Uhuru Kenyatta has flagged off the third batch of vehicles which have been part of the vehicles acquired through government’s leasing programme. The event that took place at Uhuru Park, saw over 500 police vehicles distributed to various police departments. Some of the vehicles have been leased through Vehicle and Equipment Leasing Limited (VAELL), the leasing market leader in Eastern and Central Africa.

    Since 2013, the government has leased 2,720 police vehicles in a move aimed at cutting costs and improving police mobility in their daily operations within the country.

    Mogire John, VAELL’s head of Business development, said that over a decade ago, the government, corporates and SMEs have ventured into leasing arrangements which enables them to concentrate on their core business, cut business operational costs and increase efficiency in their day to day operations.

    Speaking to the media, Mogire has encouraged county governments to emulate the national government in leasing of vehicles, medical equipment, construction equipment, as well as agricultural implements.

    VAELL has rolled out a single lease platform cover of 7 countries which enables multinational corporates to connect all their leasing services through one contact point. In addition, VAELL has the capacity to offer leasing services in over 20 other countries in Africa through off-shore structures.

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    East Africa’s Leasing Market leader, Vehicle and Equipment Leasing Limited (VAELL) has leased 43 Ford Rangers units to Airtel Uganda. The lease arrangement is a reflection of a strategy that focuses on growing the voice mass market offering and solidifying the business’ mobile and corporate data position in the market and the overall growth of Airtel market scope.  The lease will run for a period of 48 months.

    Speaking while receiving the last batch of the 43 Ford Rangers double cabin pick-ups units, Anwar Soussa– Airtel Uganda’s  Managing Director  said, “We have had an impressive performance over the past years since we acquired Warid Telecom in May 2013 and rising to a power house of 7.2 Million clients.  We have made a decision to lease vehicles from VAELL as we heavily invest in our network expansion all in a bid to ensure clear network coverage and excellent customer service.” He added that the leased vehicles will aid Airtel Uganda to supplement their efforts towards having pocket friendly communication products and services. The leased vehicles will be instrumental in product distribution across Uganda, mostly in remote and rural areas, as well as for responding to clients’ technical needs.

    Speaking at Airtel Uganda offices along Wampewo Avenue in Kampala Uganda, Anna Asio VAELL Uganda Leasing Manager said, VAELL has invested over Kes. 400, 0000,000 (ugx 13,320,000,000.00) in the Uganda market this year and this investment also demonstrates Vaell confidence in the telecommunications sector as being a market driver in the regional economy over the next decade.

    Airtel Uganda joins other leading corporates within the E.A region like the Kenyan government and other leading companies that have adopted the vehicle leasing policy and reaping the benefits.

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    For many years, farmers in East Africa have had a hard time accessing farm machinery to work on their farms due to financial and credit limitations. As a result, most farmers are unable to purchase or maintain farm equipment due to the high costs involved. This in turn hinders farmer’s capacity to fully maximize on their farm’s output. In addition, equipment owners lose revenue as their farm equipment are only needed at a certain time of the year, rendering the equipment idle for the rest of year.

    To overcome this, Quipbank trust ltd has come up with an innovative solution dubbed Tinga, a mobile based application which helps farmers book their preferred tractor service(s) at a click of a button and track it right to their farm. This is the latest agro-based product in the region that is seeking to connect farmers in search of tractor services to equipment.

    For Mr. Samuel Tunoi, a wheat farmer in Narok East, the gains he has made are immense. He could not hide his joy as he spoke standing next to his tilled farm.

    “Previously, I could only utilize 20 acres of my 200 acres’ farm and even that was exhausting. I could not afford the cost of buying a tractor and I would depend on middlemen who were unreliable, costly and the tractors broke down often. I booked chisel ploughing service using the mobile app and within a week they had mobilized a tractor, with a capable operator who was able to do the work efficiently. Am very happy and satisfied with their service,” said Mr. Tunoi who is among a network of over 3,000 farmers in Narok benefiting from Tinga.

    Tinga is an SMS and mobile based application that enables farmers to access a host of services ranging from chiseling, no-till planting, ploughing, harrowing, planting, spraying, harvesting, lawn mowing among others. The application allows farmers to create an account, indicate their preferred service, location and the size of land to be worked on. When the request is received, and processed the tractor is dispatched from the nearest Tinga hub to work on the farmer’s farm within the allocated time frame.

    Farmers end up slashing the cost of accessing tractor services by only paying for the number of acres worked on. They also receive free regular training on conservation farming and new technologies in agricultural mechanization, such as chiseling and no-till planting among others.

    The platform further engages equipment owners through a partnership program that allows them to register their equipment and earn by getting paid for machinery which would have otherwise being laying idle in the shed.

    Currently TINGA has engaged farmers in Narok, Nakuru, Bomet, Naivasha, Molo, Meru, Embu and is quickly expanding across the country. In it is expansion plan, Tinga has introduced a community ownership model which enables organizations and NGOs such as churches, SACCOS, cooperatives, chamas to own tractors and allow their members to earn discounted services.

    For more info, visit :

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    Vehicle and Equipment Leasing Ltd (VAELL) is seeking to raise $50 million in debt and equity funding to offshoot the growth of medium enterprises across Africa. East Africa’s economy has been heating up the global statistics with most economies growing at 4% and above. Kenya’s economy according to the latest world bank numbers is expected to grow at 5% in 2016. This growth is mainly being driven by medium businesses filling in the gap left by larger corporates and niche consumer markets.

    Demand for vehicles is normally in excess of 100,000 units per year, however, in a surprising turn, this demand has dropped by over 20% in 2016 largely due to unavailable credit as banks have faced piling woes with three banks collapsing in the last 18 months and a recent slam on interest rates. Medium enterprises are caught in the middle as their credit needs cannot be fulfilled given the push back. Most banks have reported a decrease in lending.

    On the other hand, VAELL, East Africa’s largest leasing firm has registered a large increase in demand and with an unstable banking environment VAELL is currently sharing up its off-shore and non-bank finance partners. In a show of might, VAELL recently signed up a $10M loan from PTA the COMESA bank supported by IFC and other African countries. However, this was swallowed up in less than 30 days, a key pointer to the growing demand for leasing services in East Africa.

    VAELL has advised that it is cautiously seeking another 50M to facilitate their clients who need commercial vehicles, medical equipment and construction machines. Over the last 10 years VAELL has acquired over $100M worth of funding from investors with over $20M in taxes in 4 different countries with default ratio of less than 3%. The funding will be used to fuel medium enterprises and VAELL hopes to complete the fundraising by end of March 2017 with offshore banks from Europe, Asia, China and South Africa expected to provide the finance.

    VAELL has partnered with banks such as Standard Chartered Bank, Stanbic bank, Ecobank, Bank of Africa among others to offer and structure leasing for their clients and manage repayments on behalf of the banks paying back rates of between 6-8% per annum.

    Having established itself as the foremost expert in asset, plant leasing and acquisition with a total asset book of over $80M, VAELL has fully fledged subsidiaries in East Africa and recently opened subsidiaries in Zambia and Mozambique. VAELL also announced it had signed a referral partner in South Africa signaling its intention to focus on the less banked sectors of the continent where it has enjoyed a dominant position.

    VAELL has been a winner in the KPMG Top 100 for four years in a row from 2012, coming second in 2014 and over the last two years coming into Club 101 (for those with a turnover of $10M and above). The Uganda and Tanzania subsidiaries have also won similar awards. VAELL has also won TITAN-Building Nations awards in South Africa in 2014 and 2016 for outstanding achievement.

    VAELL has an outstanding team of young talent with a majority of the team being below 30 years of age.

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    Vehicle and Equipment Leasing Limited (VAELL), leasing market leader in the region, was ranked among the front-runners of Top 100 Mid-Sized companies in Tanzania. This survey conducted by KPMG and Mwananchi Communications Ltd in association with Tanzania National Bank of Commerce involved around 200 companies operating in Tanzania with TZS 1 billion to TZS 20 billion turnover. This survey recognizes the fastest growing Top 100 medium sized companies in Tanzania in terms of business excellence, annual turnover, and innovation in operations, leadership, service offerings, productivity, human capital, client relationships, and contribution to corporate social responsibility, commitment and success.

    The VAELL Tanzania Country Manager, Joyce Mutahi, addressing the audience during the Top 100 mid-sized Companies Awards Gala Dinner this Friday at The Mlimani City Hall, said “we are happy that we have been recognized as the leaders in the leasing industry. We remain committed to ensures that our clients across East Africa and beyond derive as maximum value as possible as well as aiding them to concentrate in their key businesses with less interruption.” She continued to say, “We will continue coming up with more innovative ways to help our clients evade the unnecessary vast capital expenditure in buying the vehicles and equipment to optimize their commercial and operational processes.”

    Mr. Ketan Shah, KPMG Tanzania Partner, said during the award that “this survey is carried with a team which is highly experienced in Business Research and our contribution in this undertaking is to encourage a fair playground in the market place.” VAELL, East Africa’s vehicle leasing leader, helps organizations manage their operational costs by passing on intermediate services of vehicle maintenance to VAELL. Vaell helps companies and organization focus on their core mandate; passing on other services such as insurance, tracking and maintenance to VAELL which is their area of expertise.

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    Vehicle and Equipment Leasing Ltd (Vaell) has announced Kes. 960 million Deal with PTA Bank. The PTA BANK, East and Southern Africa Trade and Development Bank has given VAELL US$ 9,500,000 to aid her in asset acquisition. The funds will finance heavy Komatsu equipment that will be instrumental in spearheading the development in the mining sector within the East African region. This partnership is seen as a boost economic development in the region as PTA bank and VAELL, a Kenyan firm, aim to strengthen their positions in the Tanzanian Market.

    Devalingum Gopalla, Head of Legal- PTA Bank, described leasing as a very attractive asset financing model. “This is the beginning of a long-term association with the East Africa’s vehicle leasing market leader and we will seek to expand this partnership for the good of the region.” Gopalla added, “This strategic relationship will aid the tailored solution to cater for various business needs. We are very delighted to be part of an initiative that will help create employment for East African community residents.”

    Leasing assist companies to pass on other services such as insurance, remote tracking and maintenance to lessors like VAELL which is its area of expertise at a fixed monthly cost during the rental period. This kind of business arrangement boosts value creation and clients’ business overall growth with less stress on fleet maintenance.  This initiative ensures that clients derive as maximum value as possible as well as aiding them to concentrate in their key businesses with less interruption. This optimizes commercial and operational processes.

    Speaking while signing the deal, the VAELL Regional Managing, Paul Njeru said, “Different forms of leases exist. Each has its benefits and weaknesses, but a lease can be tailored to a particular client, product or sector. Every single day we get different clients with different needs. We take time with each client that walks in our offices and explains to them what suits them as per their unique needs.”

    Leasing as kind of business model is cost effective and it is the hassle free way of acquiring heavy equipment that are very expensive for both starters and growing companies.  Business is all about becoming more productive and profitable. This is why this model is preferred. Because you only pay for the use of the equipment, you can reduce up-front payments to conserve capital. Plus, you gain the advantage of working with the latest technology.

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    vivo-energy-shell-licensee-leases-vehicles-vaell-ugandaVivo Energy, the Shell licensee in 16 countries in Africa, has expanded its leased fleet by another 8 units to further expand its fleet across the continent. This acquisition is expected to boost value creation and the overall growth of its business with less stress on fleet maintenance and brings its regional leased fleet over 50 units.

    Speaking while receiving the units, Milkah Kahumbura, Vivo Energy’s Procurement Manager said, “Vivo adopted leasing as its business strategy in a bid to meet its products growing market demand. We have tried it before and it is working. The company will seek to expand this partnership as a means of managing its operational costs by passing on intermediate services of vehicle maintenance to VAELL and applicable to its regional presence.”

    Vivo is among other companies and governments that have adopted the policy of leasing vehicles and equipment to manage their cash-flows. The product is attractive as it helps institutions avoid unnecessary capital expenditure in buying depreciating assets such as vehicles. In addition, it assists institutions to pass on other services such as insurance, remote tracking and maintenance to lessors at a fixed monthly cost during the entire leasing period. This ensures that clients derive maximum value possible as well as aiding them to concentrate in their key businesses with less interruption.

    While flagging off 8 units, Paul Njeru, VAELL’s Regional Managing Director, said, “Leasing has been accepted and embraced by leading multinational corporations around the globe as a sound model for asset acquisition. Key industry players cite the flexible terms of obtaining a lease as one of the major benefits that makes it attractive compared to loans.” He added, “VAELL has leased various types of assets to various corporate that many think are not leasable such as tablets, gym equipment, trucks, trailers, power plants and production equipment.”

    VAELL has presence in the auto mobile, healthcare, mining, government, agriculture and construction sector. In 2014, VAELL won the award for the Best in Transport, in the Top 100 KPMG/Business Daily survey, and 2015 shot into Club 101 in the same survey. The leasing powerhouse with presence in 8 African countries remains to be a one stop shop for all regional needs.

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    Vaell seeks to lower healthcare cost with equipment leasing

    medical-vertinary-dentals-equipment-leasing-kenya-uganda-tanzania-rwandaVehicle and Equipment Leasing Limited (Vaell) has launched Healthcare Equipment Leasing Limited (Heall), a leasing solution targeting private hospitals and clinics as well as mid-level government facilities.

    The solution is expected to lower the costs of medical equipment.

    “It costs Sh9,000 for dialysis in a public hospital like Kenyatta National Hospital and between Sh9,000 and 15,000 in private hospitals. We lease out dialysis machines under Heall for Sh110,000 a month.

    “Most hospitals can afford to pay for it in two days from their client billings,” says Paul Njeru, Vaell regional managing director. A scanner for pregnant women costs Sh60,000 to lease per month and there is no reason why every gynaecologist shouldn’t have one, he adds.

    Mr Njeru says the inefficiencies in the health sector should not be used to penalise the sector by denying it access to credit which in turn would make life-saving equipment readily available in more health facilities thereby reducing queues in hospitals.

    Vaell hopes to tackle this problem by designing a product tailored to the specific needs of doctors and health facilities as well as educating the sector on the benefits of leasing as opposed to buying equipment.

    The latter involves a huge capital investment and places maintenance of equipment solely in the hands of the health facility. With leasing, the monthly costs are affordable and doctors who qualify will sign a maintenance agreement with the supplier which is subject to renewal after a mutually agreed period.

    Vaell has partnered with leading medical equipment suppliers in the region to help the firm educate the health sector on the benefits of leasing.

    The 10-year-old company deals with both vehicle and equipment leasing and has subsidiaries in Uganda, Tanzania, Rwanda and Zambia, with plans to expand to Mozambique and Malawi. Vaell has a fully-fledged government consulting division and has 60 employees — 40 in Kenya and 20 in the region. Ninety-five per cent of its clients are big corporates.

    “We’re heavy in cement, beverage and telecoms sectors across the region. These three comprise our largest customer base,” says Mr Njeru.

    Vaell leases brand new showroom vehicles at Sh60,000 a month which is way lower than the average cost of hiring a car which is around Sh3,000 per day (Sh90,000 per month). The company plans to launch a Sh10,000 rental in the next six months targeting both the retail and corporate markets.

    A key challenge in the retail market is getting funding. “Financiers insist on corporates because the risk is very high,” he says adding that competition from used cars is another challenge. “People argue they can pay Sh75,000 and own a vehicle for an extra Sh15,000 a month…Some markets transform slowly, others transform fast and you can’t push the market,” says Mr Njeru.

    Vehicle leasing is important for the company and is the source of regular clients but equipment leasing is where Vaell adds more value.

    “We get a wholesome relationship where we end up not just doing equipment but a whole lot more,” says Mr Njeru. In the last year, the company has gone into the manufacturing sector in a big way and its largest project was fitting an entire packaging factory end to end at a cost of Sh500 million. This helped double its 2014 revenues which hit Sh1.1 billion up from Sh500 million in 2013.

    “We have requests to fit factories all the way up to Madagascar and it’s an exciting space for us to engage the manufacturing industry and bring the benefits of leasing to that sector which has traditionally relied on either self-finance or bank tied equity financing,” says Mr Njeru.

    This article first appeared on the Business Daily Africa website. (Tuesday Sep 1,2015 )

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    VAELL signs deal to lease to SMEs, individuals

    Vehicle and Equipment Leasing Limited (Vaell) has signed a partnership with Car & General that will allow it to lease cars to individuals and small and medium sized entities.

    Vehicle and Equipment Leasing Limited (Vaell) has signed a partnership with Car & General that will allow it to lease cars to individuals and small and medium sized entities.

    This is the first time Vaell has opened its leasing services to individuals and small businesses.

    Since its establishment over a decade ago, the firm has only been leasing its cars and equipment to companies and government entities.

    According to Vaell, the numerous customer demands for such a leasing model is what has made them come up with the innovative product.

    “Leasing has been commonly done to corporates and not individuals. But with the growth in the sector and with the demand we are getting innovative and coming up with various leases to cater to all. Government, corporates, SMEs and individuals,” said Vaell’s country director Judyanne Wanjiku.

    The company will lease vehicles and equipment to individuals under a scheme referred to as wholesale leasing. In wholesale lease agreement, suppliers and dealers get the full value of their equipment upfront while Vaell manages the lease rentals on their behalf.

    Leasing refers to a business model that allows customers to use assets without acquiring their ownership rights. It helps to acquire use of assets cost effectively.

    Insurance and maintenance costs of leased assets if often bundled into one lease rental offering customers reprieve in additional costs.

    Clients can choose whether to shoulder cost of maintaining the assets (dry lease) or passed on to the lessor. Car & General will first lease delivery vehicles, motorcycles and later progress to forklifts, generators and tractors.

    Under the wholesale lease agreement, a customer wishing to rent a motorcycle with dealer buying price of Sh97,444 will pay in monthly cash lease prices of Sh6,000.

    However, the client has the option of paying the rentals per month or on a quarterly basis.

    “The product allows motor vehicle and equipment dealers to negotiate lease arrangements for their clients through an independent leasing company. This is a very attractive lease model and we foresee more uptakes in the near future,” said Ms Wanjiku.

    The lease duration can be between one and three years. Individuals leasing the asset are allowed to trade them in for new models.

    SMEs that meet the minimum lease requirements are eligible to rent vehicles and equipment. They include six months bank statement, recent management accounts and three years audited accounts.

    This article first appeared on the Business Daily Africa  website. (Tuesday, September 1  2015 )

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    Vaell, Co-operative Bank of Kenya Kshs 1B lease partnership

    wholesale-leasing-vaellVehicle and Equipment Leasing Ltd (Vaell) has announced Sh1 billion lease partnership with Co-operative Bank of Kenya. The funds will be utilized to service the Government Police Vehicle Leasing Project, through a financing arrangement known as “Wholesale Leasing”.
    The product allows equipment dealers to negotiate lease deals for their clients through an independent leasing firm who tie up a tripartite arrangement between the dealer, client and bank financing partner(s).
    In Wholesale Lease agreements, the suppliers and dealers get the full value of their equipment upfront while Vaell manages the lease rentals on their behalf. Regional Head of Finance Bertha Mvati was upbeat the product would be a big success in the region, saying that “banking, equipment manufacturing as well as the motor dealership industry is excited about the innovative financing model being fronted by Vaell.
    ” Co-op Bank’s Head of Asset Finance Joseph Thiongo described Wholesale Leasing as a very attractive asset financing model and “we foresee more uptakes in the near future.”
    The model entails traditional Vehicle and Equipment dealers offering leasing solutions to their clients by partnering with an existing independent lessor, in this case Vaell. Unlike traditional asset finance, the wholesome leasing model enables clients to enjoy all benefit of assets without acquiring the title; thus, avoiding inherent risks of ownership while optimising on the capital outlay, as payments are made in installments.

    This article first appeared on the Business Daily Africa  website. ( March 20th 2015 )

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    Vaell partners with South Korean automaker Hyundai Motors

    Sam Lee, the regional head of marketing at Hyundai Motors East Africa Corporation (right) addresses the press after he signed a leasing deal with Vehicle and Equipment Leasing Limited chief executive Paul Njeru.South Korean automaker Hyundai Motors has partnered with a Kenyan leasing company—Vehicle and Equipment Leasing Limited (Vaell)— as it seeks to grow sales in East Africa and tap into the sector that is seen as the new revenue stream.

    Hyundai Motors East Africa, a five months old subsidiary company, announced the deal as it marked the sale of its 70th unit since starting operations in Kenya.

    “Our study of emerging trends in the East Africa auto market found that leasing is the fastest growing new industry. As an aggressive new-car seller, we see it as an enabler and are happy to announce partnership with local pioneer leasing company, Vaell,” said Sam Lee, the regional head of marketing.

    Hyundai models were introduced in East Africa by an Indian company in the 1980s, but the company went under in mid 1990s amid complaints of poor technical support from customers. This new company is not linked to the older company.

    Paul Njeru, the CEO at Vaell, said the leasing partnership will be strategic for Hyundai, as the model makes a comeback to the East African market, and could potentially help the company’s new car sales rise by up 20 per cent.

    According to Kenya Motor Industry, the sector sold 5, 930 news cars in the formal market in six months compared to 5, 501 in the same period last year, a pointer that the sector would take longer to surpass the 13, 135 cars it sold in 2008.

    The comeback of Hyundai model is a signal that the new personal car market is growing at a faster pace, attracting new entrants.

    Shun loans

    “Hyundai models are the best-seller in Europe and second best selling in SUVs and saloons in Africa, we expect good performance by these models,” Mr Njeru said.

    Vaell leases and manages cars and machinery to highly credit-worth companies that shun heavy loans in buying movable assets and others that want to keep their credit lines open to allow access of funds for other projects.

    Mr Njeru said Vaell which has over 10 years leasing experience presently manages 400 to 500 units annually.

    “We expect Hyundai model’s comeback to be boosted by corporate leasing,” he said. Amongst the models Hyundai East Africa is stocking in its showroom in Nairobi include sports utility vehicles (SUVs) like Hyundai Santa Fe, the Hyundai ix35 and the Hyundai Tucson, as well as saloons like the new Elantra and the Accent.

    Mr Lee said the company has invested heavily in spare parts to ensure they are easily available to avoid the pitfalls that caused the poor success of Hyundai models before.

    “We are investing Sh300 million this year alone in a country wide spare parts distribution and support systems that will go complementary to Vaell’s already established countrywide maintenance centres,” said Mr Lee.

    Toyota is the most common car on Kenyan roads owing to availability of spare parts. Toyota Kenya opened the largest market share gap between it and rivals in five years, helped by increased demand for personal cars.

    This article first appeared on the Business Daily Africa  website. (Friday, July 15th 2011 )

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    Vaell, Telcom Kenya signs Kshs 115 vehicle leasing deal.

    telcom-kenya-leases-vehicles-equipment-vaellTelkom Kenya has signed a KSh 115 million three-year contract to lease from local vehicle and equipment leasing firm Vaell.

    Under the agreement, Vaell will supply Telkom Kenya with 20 vehicles (Ford double cabins) each year within the lease period.

    Telkom Kenya joins the government and companies such as Coca-Cola and ARM Cement that have adopted the policy of leasing vehicles.

    Leasing allows a client to use a vehicle for a fixed period of time while paying monthly fees as the dealer takes care of maintenance. This helps avoid the upfront huge capital expenditure in buying the vehicles.

    “Leasing will allow us to focus on our core business, which is the provision of IT services, and pass on other services such as these to other entities who this is their area of expertise,” said Isaac Muthama, the chief mass market officer at Telkom Kenya.

    The new vehicles will be used for product distribution across the country, mostly in remote and rural markets, as well as for responding to clients’ calls.

    Currently the government is the biggest partner with leasing firms while Toyota has been the major beneficiary of this government policy, having won the maiden Sh3 billion contract to supply 1,100 vehicles to the police service late last year.

    In November the firm won another deal to lease 500 units to the same institution at a cost of more than Sh1 billion.

    This article first appeared on the Business Daily Africa  website. (Thursday, November 2014 )

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    VAELL to raise KShs 8.4 billion through an asset-backed bond issue.

    vaell-leasing-nic-bond-8-4-billionNIC Capital, the investment banking subsidiary of the NIC Bank Group, has been mandated as the Lead Arranger to help leasing firm Vehicle and Equipment Leasing Limited (VAELL) raise up to $95 million (Sh8.4 billion) through an asset-backed bond issue.

    NIC Capital is expected to act as the lead arranger and placing agent in the deal, which now awaits regulatory approval. This is the first asset-backed bond issue in the market under the Capital Markets (Asset Backed Securities) Regulations, 2007.

    NIC Capital Managing Director Maurice Opiyo expressed optimism about the asset-backed securities deal. “The company will be using the proceeds to support their balance sheet growth by creating additional assets,” he said. VAELL Managing Director,  Mike Mulili, said the market has started seeing the benefits of leasing equipments and vehicles and this has seen the firm grow its business.

    This article first appeared on the Standard Media  website. (27th November, 2014 )

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    VAELL leasing signs a Kshs 356M deal with Innovare Finance.

    paul-njeru-vaell-managing-director-partnership-mauritius-firmVehicle and Equipment Leasing Limited (VAELL) has signed a KSh 356 million ($4 million) financing deal with a Mauritius-based fund to hire out machinery for use in agro-processing.

    VAELL has partnered with Innovare Finance, an agriculture-focused private equity firm, to provide capital for small and mid-sized agribusinesses in the region.

    The arrangement will see Vaell lease agricultural machinery such as food processing equipment to SMEs across the region.

    The machinery will be supplied by Insta-Pro, an Iowa-based manufacturer of mid-size feed and food processors, extruders and oil extractors.

    “This programme will enable SMEs to buy more equipment, improve farmers’ livelihood, contribute to food security, increase local food sourcing and improve market access,” said Paul Njeru, group managing director of Vaell.

    Mr Njeru said the partnership targets smallholder farmers and investment groups seeking to engage in value addition but that lack cash since they cannot access costly bank loans for lack of collateral.

    The programme is aimed at financing agricultural enterprises to commercially increase food supplies and raise farmers’ earnings.

    “Investments need to be made in post-harvest processing and logistics,” said John Riggan, CEO of Innovare.

    The leases will be applied in 36-month lease periods at rates that Vaell declined to disclose but termed as “competitive.”

    The new deal by Vaell comes three months after the leasing firm bagged a Sh350 million ($4 million) deal to hire out machinery to a consortium of Tanzanian mining firms.

    READ: Kenyan firm signs lease with Tanzania consortium
    The deal involved leasing out excavators, tippers, wheel loaders, breakers, graders, drills and compressors.

    Vaell is a family business established eight years ago. It has a presence in 20 African countries through partnerships but has office presence in three East African countries.

    Vaell says leasing is more practical for companies and government.

    The State last year leased 1,100 vehicles for the Kenya Police, with Toyota Kenya winning the deal estimated at Sh3 billion in November. The Treasury has also set aside another Sh3 billion for leasing medical equipment for major hospitals.

    This article first appeared on the BUSINESS DAILY AFRICA  website. ( Thursday, October 9   2014)

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    VAELL, Tata signs a lease deal valued at Kshs 350M

    leasing-construction-equipment-excavatorVehicle and Equipment Leasing Ltd (VAELL) and Tata Africa Holdings have partnered to supply equipment to a consortium of Tanzanian mining companies. The equipment supplied is valued at KSh 350 million ($4 million). Some of the equipment being leased to the consortium includes excavators, tippers, wheel loaders, breakers, graders, drills and compressors.

    The deal marks increased presence of the Kenyan leasing firm into the regional market. VAELL Regional Managing Director Paul Njeru said there has been huge growth in demand of heavy commercial equipment in the region, adding that the firm expects further growth.


    This is especially in the sectors of oil, gas and mining as well as government agencies looking to lease equipment in doing major infrastructure projects. “Leasing is increasingly gaining popularity and we are excited that many companies are now realising the numerous advantages of leasing as well as the potential leasing could bring to their organisations,” he said.

    “The main advantage is that companies are able to plan their finances well as leasing requires only small payments over a long time, depending on the terms agreed on.”

    Speaking at the signing event, Head of Auto Division Tata Africa, Sandeep Tickoo said he was elated at the partnership with the leasing firm. He remains optimistic of tremendous growth opportunities in the region.

    “Leasing companies and auto dealers enjoy great synergies that in the end can be of great benefit to the clients. We are excited to be part of a large transaction that shall see the Tanzanian mining sector grow,” he said.

    This article first appeared on the Standard Media  website. ( Mon, July 7th 2014 )

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    VAELL rolls out fixed cost leasing

    fixed-costs-leasing-vaell-africaIn a global emergent trend, most companies do not want to create their own dedicated fleet maintenance systems but still need to ensure optimal operation of trucks because of the potential economic and safety costs of systematic failure. Services such as remote monitoring and predictive maintenance are meant to critically improve the performance and dependability of the trucks.

    In a bid to help companies focus on their core business, VAELL (Vehicle and Equipment Leasing Limited) has rolled out fixed truck maintenance cost reduction program in its new business model, branded “vaellue lease”.

    Fixed costs leasing assist companies to pass on other services such as insurance, remote tracking and maintenance to VAELL which is its area of expertise at a fixed monthly cost during the rental period. This kind of rental is expected to boost value creation and clients’ business overall growth with less stress on fleet maintenance.

    This initiative ensures that clients derive as maximum value as possible as well as aiding them to concentrate in their key businesses with less interruption. This optimizes commercial and operational processes.

    Speaking while flagging off 15 units, VAELL Regional Procurement Manager, Jenniffer Syombua said, “a target of having trucks cost less than Kes 150,000 per month is achievable with discipline of drivers and well scheduled routes. Costs will come down eventually to benefit the consumer. ”

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