Press Release

Nairobi – East Africa’s largest equipment-sharing platform, Quipbank Trust Limited, has signed a partnership with Iranian automobile manufacturers, Zamyad Company and Iran’s second-largest car manufacturer, Saipa. The arrangement will see the equipment renter become the dealer for various units including Gas Powered Pickups and distributor for the hybrid Light Commercial Vehicles which are CNG and LPG gas powered and electrical vehicles. These Gas-powered pickups are durable, sleek, and highly efficient. Compared to Diesel and Petrol-powered models, gas is a lot more affordable and therefore guarantees to save clients greatly on expenses an agreement was reached when the parties signed a deal at the state house in Nairobi Kenya, to cater to the increasing demand for vehicles to boost sales rates. As part of the agreement between the firms, the equipment renter has also entered into a partnership to get electric vehicles (EVs) from Iran’s second-largest car manufacturer, Saipa.

This distribution agreement is an exclusive agreement for dispensing at least 1000 units of various models of vehicles manufactured by the Iranian firm which now has presence in four continents including Africa through Kenya. This comes two months after the two firms signed a cooperation agreement in Nairobi with the top management of the two firms. The Kenyan Iranian ambassador attached in Kenya Jafar Barmaki, played a key role in the agreement.

“The dealership is to support operations of the auto manufactures within the region utilizing our experience and expertise that spans for decades. The strong vehicles from Zamyad will help many citizens, especially in the rural areas that need such strong vehicles to withstand rough, bumpy and unleveled terrains. These vehicles are all-terrain and will help a lot, especially during the rainy seasons,” said Mr. Paul Njeru, Regional Managing Director of the equipment renter.

According to the vice chairperson of the board of Iranian-based auto dealers, Mr. Seyed Mohsen Mortazavi, the pickups are very affordable, and cost-effective because they use gas, compared to other diesel- and petrol-powered models, using gas is more affordable and despite the assumptions a lot safer too. This makes the vehicles environmentally friendly because they utilize greener energy to reduce carbon emissions. We look forward to working together with Quipbank Trust Ltd and hope for a fruitful partnership between our two countries, Iran and Kenya.

ZAMYAD has received various awards including, Champion of the automotive industry among others while the equipment sharing platform on the other hand has also received several awards including the Prestigious International Award dubbed Pacesetters Awards Africa Pacesetters Award (PSA) which  is an annual Industry leadership Recognition program organized by Jubilant Stewards of Africa (JSA), a Non-Governmental Organization, to celebrate key industry leaders for their innovation, quality products, and service delivery, job creation, exemplary leadership, growing the economy, and transforming the society. It was recognized as Pacesetter the regional equipment sharing platform of the year in the just concluded Eastern Africa chapter of the awards and last year as the Pacesetter in Electrical and Solar Vehicles.

“We are happy to be associated with Quipbank, who have a reputation for excellence and professionalism – values that we emphasize in our delivery of service,” added the CEO of the Automobile Manufacturer.

President William Ruto has announced plans by Zamyad to set up a motor vehicle assembly plant in Mombasa. Speaking on Wednesday, Ruto said the plant will manufacture native Iranian vehicle models. He said the vehicles have been given the Swahili name ‘Kifaru’. The announcement was made during an address alongside Iranian President Ebrahim Raisi, Zamyad, equipment renting firm Management among other dignitaries at State House, Nairobi.

The equipment renter says that these vehicles will reduce the losses incurred by businessmen while transporting their cargo from one location to the other. With advent of ‘Kifaru’, it is expected the cost of transporting goods will come down with at least 30% and therefore the cost of goods and living to also come down especially this time when the economy is facing various challenges.

“With ‘Kifaru’ we expect to ease the cost of doing business. A majority of the roads in Kenya are in sorry states and very bumpy. When you drive on these roads, you feel like you are dancing because you sometimes jump up and down in a rhythmic manner which is not a fun thing if it happens unintentionally. Such roads hurt the economy and that is why we came with these products to ease transportation of goods across the country. These vehicles are able to withstand such roads,” said Mr. Njeru.

Editor’s notes

For further details and updates, please contact;

Jared Oundo,

Head of Corporate Affairs and Communications

Quipbank/ VAELL Group,


Cell: +254 719408244/0780408244


About ZAMYAD Company

Zamyad Company is an Iranian commercial vehicle manufacturing company. It was founded in 1963 as part of the RENA Industrial Group in Tehran. In 1963, the company began producing Volvo N-Model trucks and in 1970 started production of the Nissan Junior 2000 pickup. In 1998 SAIPA took over the Zamyad company, which then undertook the production of the Z24, a license-built version of the 1970-1980 Nissan Junior with a 2.4-litre engine. Since 2003, this truck is sold under the Zamyad brand. Zamyad produces a re-bodied version of the Z24 called the Shooka. Currently, ZAMYAD has operations in Iran, Russia, and Iraq and is now set to operate in Kenya. ZAMYAD is launching its operation in Kenya as they eye the other African countries, it has already recorded success by selling more than 750,000 units across four countries.


Quipbank Trust Limited is an equipment bank which offers vehicles and equipment rental and sales options. It 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 East Africa’s largest equipment sharing platform, has partnered 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. Quipbank is best poised to provide the highest quality rental machines and offering exceptional maintenance services towards customer satisfaction. It has entered into agreements with international firms such as Austria’s RM Group, Faspol from Poland and South Africa’s Hydraform to display and sell equipment on their behalf.

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Jubilant Stewards of Africa is the best online outlet for reliable African news and in depth analysis of developments in business, finance, markets, politics, culture, science and technology. Apart from being news breaker Jubilant Stewards of Africa is a training, research, PR and consultancy firm whose main focus is to help companies, governments and non-profits achieve competitive advantage through smart strategic alignment. Our three arms work in a collaborative effort to seek insight into the emerging trends of success and impart that acquired knowledge to our clients. For more information call us via +254719408244 or email

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