The leasing industry has come a long way. It is an industry that was left to chart its own path, by trial and error, with hardly any defined principles to guide it. The consequences have more often than not been damning.
As usual, unscrupulous businessmen have masqueraded as leasers, taking advantage of the near nonexistence of regulations, to flout industry best practices and fleece ignorant members of the public in the name of leasing. That has given the industry a bad name and slowed its growth in the country.
A lease is simply an agreement between the owner of an asset known as the lessor and a third party seeking to use the asset without owning it; known as the lessee.
Under a lease agreement, the lessee pays an agreed regular fee to use the asset while the lessor is responsible for its maintenance.
Through leasing, SMEs can access a wide variety of moveable assets ranging from office furniture and fittings to IT equipment and vehicles as well as manufacturing and assembly lines.
The USA is the world’s most mature leasing market enjoying about 43.82 % vehicles and machinery leasing market share.
Vaell (Vehicle and Equipment Leasing Limited) a local pioneer motor vehicle leasing company that is also a leading player in an industry that has since picked up in Kenya, especially with the government having, since 2010, embraced the new model of acquiring vehicles for its departments, particularly the National Security organ.
Vehicle and Equipment Leasing Limited (VAELL) is an independent asset leasing, maintenance and consulting company.
Established in 2006, we have established ourselves as the foremost expert in asset & plant lease acquisition and maintenance, providing services in an array of sectors across the economy.
The company has a comprehensive network with fully fledged subsidiaries in five countries; Kenya (HQs), Uganda, Tanzania, Rwanda, and Zambia. In addition to the five countries.
Over the years, the company has developed extensive experience across a wide range of industries such as Manufacturing, Mining, Construction & energy, IT and telecommunications, Retail, Health, medical and pharmaceutical, Education, General Commercial, Banking, finance and insurance, Government and regulatory bodies, Hospitality, and entertainment.