Business
The government and other business entities have been encouraged to embrace vehicle leasing in efforts to drive efficiency in their fleet management, seeing that leasing provides flexible, sustainable, and cost-effective mobility solutions.
The Managing Director of Loxea , a subsidiary of Corporations for Africa and Overseas (CFAO) Limited Jennifer Kinyoe stated that businesses across various sectors are now adopting leasing and they are recognizing its benefits especially in terms of cost saving, risk mitigation, and operational efficiency.
She was speaking during a media roundtable meeting held at the CFAO Mobility Building in Nairobi, “We are a Pan-African business since we are present in 23 African countries with over 6,000 vehicles in Africa” she said. She revealed that they have adopted leasing in Loxea Limited and they have a short-term rental contract where the company leases vehicles for a day to even 12 months.
“For example in motor vehicles, the company can lease vehicles between 24 to 60 months depending on what the customer requires,” said Kinyoe. The Managing Director revealed that large corporations and MSMEs have adopted leasing since they can optimize fleet management by getting a solution that allows them to use the asset that is well maintained by the leasing company.
“We have grown steadily since 2009 and we have delivered tailor-made leasing solutions that meet the demands of businesses in Kenya,” added Kinyoe. She announced the existence of a service called Loxea Connect that offers a unique 360-degree approach to fleet management.
“Depending on the vehicle that you lease from us or possess, your driving activities are managed. Some of the aspects in Loxea Connect are geo-location, route optimization, analysis and management of fuel consumption, carbon emission rating, and car sharing,” mentioned Kinyoe.
The Director asserted that Loxea is keen on tapping into Kenya’s dynamic landscape to diversify its products and help the Kenyan market to develop leasing as a solution and stay at par with other countries.
She urged all stakeholders to embrace change and innovation to meet the evolving needs of their customers which in turn shapes the future of the leasing market in Kenya.