logo
ADVERTISEMENT

Vivo Energy Kenya enters deal with RentWorks East Africa on mobility

The 48-month agreement has brought together various organizations who engineered the deal to fruition.

image
by MARTIN MWITA

News14 March 2025 - 17:07
ADVERTISEMENT

In Summary


  • The Kenyan car industry is facing various challenges that have led to the decline of new vehicle sales.
  • The challenges include high import duties and taxes, which significantly increase vehicle costs.

Mr. Peter Murungi, Vivo Energy Kenya, Managing Director and Aurelien Glay, Caetano Kenya, Managing Director in the 2025 Hyundai Tucson at the handover ceremony

Vivo Energy Kenya, the Company that distributes and markets Shell products and services in the country, has entered into a partnership with RentWorks East Africa to acquire 69 state-of-the-art Hyundai Tucson for the Company’s sales teams.

The 48-month agreement has brought together various organizations who engineered the deal to fruition.

The organizations are Caetano Kenya, which will manage the maintenance of the vehicles, Stanbic Bank, the financer of the partnership process, and Heritage Insurance, the vehicles insurer.

Caetano Kenya, the authorized Hyundai dealer in Kenya, delivered 69 units of 2025 Hyundai Tucson to RentWorks East Africa and Vivo Energy Kenya.

“Our ability to support large-scale projects such as this one is a testament to the strength and reach of the Caetano Group," said Aurelien Glay, Managing Director, Caetano Kenya

"We are proud that despite the current market challenges, we have delivered."

Speaking during the fleet receiving ceremony, Vivo Energy Kenya Managing Director Peter Murungi appreciated the partnership and expressed his confidence in the quality of the vehicles.

 “We are entering into a strong business partnership with a team that has made it possible to access 69 state-of-the-art vehicles, which will support business continuity at Vivo Energy Kenya. These vehicles meet all our Company safety requirements including the installation of OBCs and cameras, all for the safety of our staff,” Murungi said.

The Kenyan car industry is facing various challenges that have led to the decline of new vehicle sales.

The challenges include high import duties and taxes, which significantly increase the vehicle costs; aggressive competition from affordable imported second-hand vehicles; restricted access to affordable vehicles; and the frequent changes in government policies, taxation and import regulations that create market instability.

 “We’re thrilled to expand our partnership with Vivo Energy Kenya and provide them with top-tier vehicles that will drive their success. RentWorks is committed to delivering exceptional equipment leasing services and providing the best-in-class vehicles to meet the diverse needs of our customers,” said Johan Taljaard, Executive Director of Rent Works East Africa.

Speaking during the handover ceremony, Dr. Joshua Oigara, Stanbic Bank Kenya and South Sudan, Chief Executive, said:

 “Leveraging on our expertise, financial capabilities and reach, we are intentional on connecting our clients to the right partners and solutions that meet their needs efficiently and sustainably. This partnership reflects our financial capability and continued focus on building ecosystems that benefit our clients.”

Rosalyn Mugoh, Managing Director of Heritage Insurance, during the handover ceremony, said:

“We recognize that vehicles are more than just assets; they drive business success. Our private motor comprehensive insurance empowers our partners, RentWorks EA Ltd and Vivo Energy Kenya, to operate with confidence, offering robust protection against unforeseen risks, including accidents, theft, fire, and third-party liabilities.”

The 2025 Hyundai Tucson, known for its innovative design, advanced technology, and exceptional performance, was selected after rigorous evaluation and testing.



logo© The Star 2024. All rights reserved