Every day, millions of Kenyans wake up, head to work, school, business or any other destination, and their journey almost always begins the same way; inside a matatu.

These colourful, sometimes chaotic, and always lively Public Service Vehicles (PSVs) form the backbone of Kenya’s public transport system, carrying almost 80 per cent of daily commuters.

Beyond the hustle and bustle of Nairobi’s busy bus stages or the endless stream of 14-seaters snaking through rural roads, the PSV sector is a lifeline, employing hundreds of thousands, from drivers and conductors to route managers and SACCO officials, contributing over Sh73 billion annually to Kenya’s economy.

But the sector is also changing fast, from cashless payment systems to the rollout of modern electric buses, Kenya’s matatus are slowly but surely modernising to match with the times.

It is within this context that NCBA Bank has stepped in with a bold commitment: to reimagine how PSV operators access finance, grow their fleets, and embrace the digital future.

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Listening to SACCOs

On Wednesday, NCBA hosted officials from PSV SACCOs for a breakfast forum in Nairobi to engage on the upgraded asset finance solutions tailored specifically for the PSV sector.

According to NCBA Deputy Director, Asset Finance James Karinga, the move is part of the bank’s long-standing promise to listen to PSV operators and respond to their dynamic needs.

“We have listened to our PSV operators, and we have responded to what they have asked us to do,” said Karinga.

The newly rolled-out financing terms are designed to be more competitive, inclusive, and flexible, ensuring SACCOs, established PSV companies, and even individual SACCO members can access the capital they need without crippling repayment pressure.

Upgraded Financing

Here is what PSV operators can now expect from NCBA as they seek to expand their fleet:

• Category 1 – SACCOs: Up to 90 per cent financing with 60 months tenure.

• Category 2 – Established PSV Companies: (At least 2 years in operation and 3 buses minimum) – Up to 90 per cent financing, 60 months tenure.

• Category 3 – Individual SACCO Members: Up to 80 per cent financing with 48 months tenure.

To apply, operators only need standard documents: ID, KRA PIN, Certificate of Incorporation (where applicable), a year’s bank statements, proforma invoice for the vehicle, and a SACCO introduction letter for individuals.

Why NCBA?

For more than 60 years, NCBA has been a trusted partner in asset finance, today commanding a 35 per cent market share; which is the largest share percentage in Kenya.

The new solutions being offered by NCBA are transformative for the matatu sector and stand out because they are:

• Seamless – Fully automated, end-to-end application process.

• Fast – Average turnaround of less than 1.4 days from application to approval.

• Backed by Partnerships – With leading PSV motor dealers across Kenya.

• Beyond Financing – Offering growth advice and value-added services.

With the new terms, NCBA Bank is once again proving that it is role as a lender and a true partner in progress for Kenya’s matatu industry.

Introducing Komiut

Alongside the financing upgrade, NCBA has also introduced a transformative digital fare collection system called Komiut; a platform set to change the face of fare collection in Kenya.

Built specifically for PSV operators, Komiut provides:

• Real-time income tracking with instant reporting and reconciliation.

• Secure transactions that cut down on theft, fare reversals, and mismanagement.

• Digital records that boost SACCO members’ creditworthiness and loan access.

• Reduced reliance on cash, minimising disputes and increasing efficiency.

“Komiut enables PSV operators to have full visibility, control, and secure reconciliation,” explained NCBA Director, Transactional Banking, Sally Chege.

She added: “It creates efficiency and generates reports that help operators analyse and improve their businesses.”

Already, early adopters of the fare collection management system are impressed.

Nyoike Mwangi, a conductor from Nicco Movers Sacco, which has piloted Komiut for a year, said:

“Komiut helps solve theft of fare collections, reduces conflict between conductors and drivers, and even stops mobile payment reversals by rogue commuters. It has made reconciliations at the end of the day much easier.”

Partnership For The Future

The PSV industry is vital to Kenya’s economy, but it has often struggled with informality, inefficiencies, and financing gaps.

With its upgraded asset finance solutions and the Komiut digital platform, NCBA is signalling its intent to help the sector modernise, thrive, and take its rightful place in a tech-driven future.

For the millions who depend on matatus daily, this could mean safer, cleaner, more efficient rides, while for operators, it means growth, stability, and long-term empowerment.

As NCBA Bank aptly puts it: “We’re not just financing vehicles; we’re fuelling progress in Kenya’s most important sector - transport.”