Sidian Bank,Uber in sh10 billion car loan deal

Sidian Bank

Recently rebranded Sidian Bank,today went into a super car financing arrangement with the Cab drivers' online transport solution provider,Uber, amounting to ksh10 billion reported BD.

The Centum Investment Group subsidiaries ,Sidian bank and Zohari ,an asset leasing company will manage the disbursement of the said amount in terms of car loans to Uber drivers and credible non Uber car drivers in a span of three years.

During the launch of the deal,Sidian bank boss,Titus Karanja and the now acting GM for Uber Kenya,Mr Nate Anderson were both happy as they expect to increase easy access to modern car financing in Kenya.

Each  Uber cab driver will borrow a maximum of ksh1.5 million at 10.5 per cent interest rate to be repayed within three years.Only non Uber car drivers with a good credit report and capable of providing 10 percent the car value will be considered.

Uber