Regional leasing firm, Vehicle and Equipment Leasing Limited (VAELL), has for the fourth time in a row been featured in the prestigious list of Tanzania’s Top 100 Mid-Sized companies in an event held in Dar Es Salaam.
This year the firm was ranked position 29, which is an improvement from position 45 in last year’s survey.
The annual award winners are normally selected from a competitive pool of applicants through rigorous scrutiny. A panel of independent judges classifies the winners based on their reach, uniqueness, and innovation, effectiveness, and impact.
VAELL Group chairman, Joseph Kiiza said the award is a motivation to the group.
”It is not our first appearance in the survey. We have made it because of consistency, teamwork, commitment, and customer service,’’ Kiiza said.
The lessor was the only Kenyan leasing firm that made it to the list this year. The recognition brings to 19 the number of awards won over the last five years.
VAELL has scooped two other honours in Kenya where it was recognised as the leading lessor and lessor of choice by other such acknowledgment organisers.
While receiving the award, VAELL Tanzania head of marketing, Julie William said, it is an honor to be recognized once again at a regional level for our efforts in supporting the growth of SMEs.
‘’Our improvement in the ranking came as a result of good and sustainable profitability as well as the ability to innovate products and adapt to the market. Since inception we have been at the forefront in supporting and empowering Small and Medium Enterprises through offering customized leasing services for our clients,’’ William said.
The lessor’s Kenyan branch did not participate in the KPMG award this year since they already passed the category. In 2014, it was ranked the first runner-up in the survey and rose to Club 101 in 2015.
VAELL leases and manages cars and machinery to highly credit-worthy companies that shun heavy loans in buying movable assets and others that want to keep their credit lines open to allow access of funds for other projects.
It becomes the first company in Africa to launch the Zero lease rest program dubbed “Timeshare” that allows institutions to free their lessees from financial commitment should their personal circumstances change unexpectedly.
The existing lease locks clients throughout the residual period without an exit plan.