Absa, Vivo Energy partner to boost Shell dealers’ growth with financing
Absa Bank Kenya Business Banking Director Renato D’souza (Right) and Vivo Energy Kenya Managing Director Mr. Peter Murungi during the signing of a financing partnership aimed at empowering Shell service station dealers with access to tailored financing solutions that support business growth, expansion, and long-term sustainability.
Absa Bank Kenya PLC and Vivo Energy Kenya have signed a financing partnership aimed at helping Shell service station dealers access funding to expand their businesses and secure strategic operating locations.
The partnership, will provide eligible Vivo Energy Kenya dealers with tailored financing solutions to support business expansion and long-term sustainability.
Under the agreement, dealers will be able to access financing to make advance rent payments to landowners for agreed periods and fund the construction of additional service station sites.
The arrangement is expected to enable dealers to secure strategic locations while preserving working capital for daily operations, investment and other expansion opportunities.
Partnership targets dealer expansion
Vivo Energy Kenya, which distributes and markets Shell products and services in the country, operates a network of about 350 service stations across Kenya.
The partnership is therefore expected to strengthen the Shell dealer network while supporting investment in service station infrastructure and growth in the energy and mobility sector.
Absa Bank Kenya Business Banking Director Renato D’souza said the financing solution was developed to address the business needs of dealers.
“At Absa, we are committed to developing innovative financing solutions that address real business needs and unlock growth opportunities for our customers,” D’souza said.
He said the partnership would enable dealers to secure long-term operating locations, strengthen their businesses and invest in future growth.
Financing to ease upfront costs
Fuel station operators often require significant capital upfront to secure long-term leases, which can place pressure on their working capital.
The structured financing facility is intended to ease this pressure by allowing eligible dealers to spread the cost of securing locations while retaining liquidity for business operations and expansion.
Vivo Energy Kenya Managing Director Peter Murungi said the partnership marked the beginning of a financial partnership between the two companies as Vivo Energy pursues its growth agenda in Kenya.
“Vivo Energy Kenya has started a financial partnership journey with Absa Bank Kenya. This comes as the company pursues its growth agenda in the country and has successfully pushed the Shell brand and products to become a market leader,” Murungi said.
He added that bringing Absa on board would provide dealers and investors with easier access to financing for investment and business development.
The two companies said the partnership is aimed at supporting entrepreneurship, investment and sustainable business growth, with the expected benefits extending to businesses, landowners, employees and communities across the country.
