Quipbank Trust Limited, East Africa’s largest equipment sharing platform has approved an alliance with Iranian automobile manufacturers, Zamyad Company and Iran’s second-largest car manufacturer, Saipa.

The regional managing director of the equipment renter, Paul Njeru, announced that the company will become a dealer for gas-powered pickups and a distributor for hybrid light commercial vehicles (LCVs) that run on compressed natural gas (CNG) and liquefied petroleum gas (LPG).

He also said that the gas-powered pickups are more durable, stylish, and fuel-efficient than diesel or petrol-powered models. This is because gas is more affordable than diesel or petrol, which will save customers a lot of money on fuel costs.

He added that Quipbank Trust has partnered with Iran’s second-largest car manufacturer, Saipa, to distribute electric vehicles (EVs) in Kenya. The agreement is exclusive and covers at least 1,000 units of various models of vehicles manufactured by Saipa. Saipa is already present in four continents, including Africa, and this partnership will help to expand its reach in Kenya.

The dealership’s main objective is to support the operations of auto manufacturers in the region. The vehicles from Zamyad, one of Saipa’s subsidiaries, will be especially beneficial to citizens in rural areas who need cars that can withstand rough, bumpy, and unleveled terrain.

However, Quipbank Trust will acquire, market, and resell the Iranian company’s light commercial vehicles as part of the agreement, which comes as Kenya and Iran improve their diplomatic relations.

The vice chairman of the Iranian auto dealer’s board, Seyed Mohsen, said the pickups are cost-effective, more affordable, and safer.

“This makes the vehicles environmentally friendly because they use green energy to reduce carbon emissions,” he said.

Mohsen expressed optimism about the prospect of a good working relationship with Quipbank and a fruitful partnership between our two countries.

President Ruto has revealed that Zamyad intends to establish a car manufacturing plant in Mombasa. In his remarks on Wednesday, Ruto said that the plant would produce Iranian-made vehicles, which have been dubbed “Kifaru” in Kiswahili.



Moralist Festus
Moralist Festus
Moralist Festus is a writer, journalist, and newswriter at Business World Africa, where he focuses on delivering Business News in Africa. Also, he has keen passion for artificial intelligence, and philosophy.

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