Quipbank
Trust Limited, East Africa’s equipment bank, has announced the opening of new
offices in Tanzania at a cost of Tsh. 8,583,890,736.00 (KES 400 million) in the
first phase as it strengthens regional presence in line with its expansion
plan.
This
new entry will entail strategic partnerships and service diversification
through technology to meet the growing demand.
Currently,
the equipment bank has branches in various parts of Kenya and Uganda, and is
set to spread its wings to other countries across Africa such as DRC and
Zambia. The firm which recently was ranked as best in construction and
infrastructure by KMPG Kenya in its annual top 100 midsized companies’ awards offers
vehicles and equipment rental and sales options. It specializes in mining and
construction equipment, agricultural equipment, automotive, trucks and
trailers.
Quipbank’s
Sales Manager, Ms. Navoneiwa Mcharo, “We have actually been operating in
Tanzania for a while through our other subsidiary and we felt it was time to
officially open hubs that will be dedicated to construction to meet the growing
demand in the country. Our equipment are currently working in a number of Tanzanian
mines. The country is dynamic and East Africa’s largest market with lots of
opportunities backed bright outlook for sustained growth. We felt it was time
to officially plant our hubs and open offices in various towns in the country.”
Ms.
Mcharo said, ‘‘we considered Tanzania due to its strategic importance in
Eastern Africa as well as Southern Africa. It will also make it easier to
coordinate other countries we are set to pitch tent in as we plan to avail the
equipment network in other African nations. This will be very instrumental to
us in realizing our goal of in contribution to construction and development of
infrastructures in the region. Despite the fact that the current pandemic has
slowed some of the job creation plans we had, we have to continue actualizing
what we can without necessarily having to wait. No one knows when the pandemic
will end.”
“The
demand for equipment in Tanzania has really grown and hence the need to move
closer to the mining sites and reduce time and distance for searching for these
equipment. Sometimes getting a proper equipment to perform a specific task can
be such a hustle and resource consuming. Our main aim is to significantly
reduce the cost of running business by easing access in addition to providing experienced
technical support,” she added.
Quipbank Trust Limited offers vehicles,
equipment rental, and sales options and specializes in mining and construction
equipment, agricultural equipment, automotive, trucks and trailers. It provides
unique and creative solutions that meet clients’ expectations not only by
realizing the business objectives but particularly by strict adherence to the
ethical principles of equipment exchange.
Quipbank, the E. Africa’s largest
equipment sharing platform, has collaborated with leasing companies across the
region to dispose and rent surplus good quality used equipment. It has also
partnered with local and regional banks to rent equipment of distressed firms
to enable debt mitigation. It stocks assets from leading brands to offer
efficient output and reduce the cost of construction and development of Africa.
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