Vehicle and Equipment Leasing Limited (VAELL) has initiated the process needed to go public in February 2019, a move that will help the leasing giant raise $10 million to strengthen its Asia and Southern Africa partnerships. The company has appointed a consultant to advice on the process. The listing will give the leasing market leader greater managerial autonomy to advance its own growth strategy. The amount of securities offered will be determined by market conditions and other factors at the time of the offering. The lessor will communicate the percentage of shares they will offer by end of January 2019 after the board’s approval. According to the companies audited accounts for financial year 2017, the lessor’s profitability was stable though its turnover decreased by 3.5% due to the political climate, however net profitability increased to 20% on a turnover of KES. 1.418 billion.

VAELL also owns the Quipbank equipment sharing platform and TingA tractor sharing platform. TingA was recently quoted as having won contracts from EABL for sorghum growers in Nyanza. In 2017 TingA, East Africa’s largest tractor share platform, won a grant of $500,000 from Alliance for a Green Revolution in Africa (AGRA). TingA is VAELL’s youngest brand and they aim to use the IPO to expand that success into other industrial equipment. Quipbank has been recently quoted as having won tenders to build dams in Narok County.

VAELL has consistently posted strong earnings and profitability and is leading in regional growth with subsidiaries in Uganda, Rwanda, Tanzania and Zambia. The leasing firm has a correspondent relationship with other leasing companies in South Africa and India. Asked about the secret of lessor’s success in the industry, the VAELL’s Chairman Joseph Kiiza said, “We attribute our success to God Almighty. We normally start with prayers every Monday morning, actively praying for our clients’ success and wellbeing. A successful client is a successful business”

For further details and updates, please

Contact;

Jared Oundo,

Corporate Communications

VAELL,

Email:jared.oundo@vaell.com,

Cell: +254 719408244/0774408244

ABOUT VAELL

Vehicle and equipment leasing limited (VAELL) is the market leader in asset leasing, maintenance and consulting in Eastern and Central Africa region. It has presence in the auto mobile, healthcare, mining, agricultural, telecommunication, construction, gas and oil sector. It has managed to diversify and expand its portfolio by offering customized solutions to suit every client’s requirement and need. In 2014 VAELL won the award for the Best in Transport, in the Top 100 KPMG/Business Daily survey, and 2015 shot into Club 101 in the same survey. It has scooped 14 awards in the last 5 years. The leasing market leader was named this year (2018) by East African Business Council Tanzania as the best East African Company in service sector. The lessor has also been named in the South Africa’s Titan Building Nation awards in the outstanding achievement category.

About Quipbank Trust Limited

Quipbank Trust Limited (QB) is a short term rental firm established in 2014 as a subsidiary company to Vehicle and Equipment Leasing Limited (VAELL), a leading independent leasing firm in the region.

QB stores and rents /sales out idle equipment on behalf of the owners through a shared resource use economic model. Further we deal with disposal of ex-lease as well as new dealer based equipment. Our clients include contractors, farmers, county governments as well as corporate entities.

PRESS RELEASE

There was a handover of ex-lease vehicles to a number of corporates and individuals at Quipbank’s yard, Buffalo Mall, Naivasha. Quipbank handed over the units to SMEs and individuals including KOBO Safaris Ltd among others. VAELL earmarked Quipbank as its ex-lease disposal partner to sell ex-lease cars direct to consumers.

Quipbank has a fully-fledged ex-lease car disposal scheme, it’s highly sought after by SMEs as well as individuals because ex-lease car offers more flexibility, lower costs and ultimately allows the SME or the individual consumer to almost trade up a car. This, combined with having the full maintenance history of the car and affordable prices, enables clients to get more value with less capital.

During the handover ceremony, Ms. Helen Nduta, the KOBO Safaris Limited head of operations said, “we were given opportunity to view the units prior to the purchase. So far so good, the process was very smooth. The vehicles are in good condition, they will ease our operations especially during these festive seasons. We plan to acquire more units as we expand our services. These land cruisers can withstand all weather roads and even access remote areas even during rainy seasons.”

KOBO Safaris Ltd joins other key corporate bodies and SMEs which have benefitted from the mega sale in their bid to strengthen their position in regional markets. With such fairly priced equipment, companies are getting an opportunity to scout and obtain a range of equipment with ease without travelling expenses to distant show rooms.

“Some of our vehicles are still at KVM and we are expecting them to be returned once the process is completed in the next few days,” said John Mogire, Quipbank Trust Limited’s commercial director.

“Each client is unique and has unique needs. We have different products for different clients and we endeavor to create new products as need arises to meet their needs,” added Quipbank’s commercial director.

For further details and updates please contact;

Jared Oundo,

Corporate Communications,

Email: jared.oundo@vaell.com,

Cell: +254 719408244/0780408244

President Uhuru Kenyatta has flagged off the third batch of vehicles which have been part of the vehicles acquired through government’s leasing programme. The event that took place at Uhuru Park, saw over 500 police vehicles distributed to various police departments. Some of the vehicles have been leased through Vehicle and Equipment Leasing Limited (VAELL), the leasing market leader in Eastern and Central Africa.

Since 2013, the government has leased 2,720 police vehicles in a move aimed at cutting costs and improving police mobility in their daily operations within the country.

Mogire John, VAELL’s head of Business development, said that over a decade ago, the government, corporates and SMEs have ventured into leasing arrangements which enables them to concentrate on their core business, cut business operational costs and increase efficiency in their day to day operations.

Speaking to the media, Mogire has encouraged county governments to emulate the national government in leasing of vehicles, medical equipment, construction equipment, as well as agricultural implements.

VAELL has rolled out a single lease platform cover of 7 countries which enables multinational corporates to connect all their leasing services through one contact point. In addition, VAELL has the capacity to offer leasing services in over 20 other countries in Africa through off-shore structures.