Press Release

Statehouse Nairobi – The regional leasing firm Vehicle and Equipment Leasing Limited (VAELL) has signed an auto dealership agreement with Iranian firm ZAMYAD Company at the state house Nairobi Kenya, to accelerate cater to the increasing demand of vehicles to boost sales rates. This distribution agreement is an exclusive agreement for the first year and the continuation of the exclusiveness of this agreement is on condition that the distributor succeeds in ordering and selling 1000 units of various models of vehicles otherwise this agreement will not be terminated but the exclusiveness will be negotiated. The signing ceremony will be between the president of Kenya Dr William Ruto, and the president of Iran Ebrahim Rais. The regional managing director of Regional Lessor, Mr. Paul Njeru, and the president and vice chairperson of the board of ZAMYAD company Mr. Seyed Mohsen Mortazavi were present.

This comes two months after the two firms signed another cooperation agreement. The Kenyan Iranian ambassador attached in Kenya Dr. Jafar Barmaki, played a key role in the agreement.

ZAMYAD is a vehicle dealership in various models including the Nissan Abi or Nissan it is also known as blue pickups, also pickup 3d models among many others. 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. ZAMYAD is an award-winning company and has acquired various awards including, Champion of the automotive industry among many others while VAELL on the other hand as also acquired several awards including pacesetters in solar and electric vehicles also VAELL has scoped more than 14 awards in different categories in the motor industry.

“The ZAMYAD dealership is to support operations within East Africa that is Kenya, Uganda, Tanzania, Rwanda Burundi, and Zambia.  The ZAMYAD pickups are the most powerful pickup and will help many Kenyans, especially in the rural areas because these are the area where most agricultural activities take place. These vehicles are all-terrain and will help a lot, especially during the rainy season.”  Said Mr Paul Njeru.

According to the vice chairperson of the board of ZAMYAD company Mr. Seyed Mohsen Mortazavi, the ZAMYAD pickups are very affordable, and cost-effective because they can use both gas and petrol. This makes the vehicles environmentally friendly because they utilize greener energy to reduce carbon emissions. We look forward to working together with VAELL and hope for a fruitful partnership between our two countries that is Iran and Kenya.

 About ZAMYAD Company,

A company legally registered and incorporated under the laws of the Islamic Republic of Iran, having its registered office at Km 15th of Karaj old road, Tehran, Iran (hereinafter referred to as “ZAMYAD”), duly represented by Mr Seyed Mohsen Mortazavi as Managing Director and member of the board of directors and Mr. Siamak Khosravi as member of the board of directors and Zamyad executive vice president and Mr Hasan Nonejad as member of the board. (Hereinafter referred to as “Company”)


Vehicle and Equipment Leasing Limited (VAELL) is the market leader in asset leasing, maintenance and consulting in the Eastern and Central Africa region. It has a presence in the automobile, healthcare, mining, agricultural, telecommunication, construction, gas and oil sector. It has managed to diversify and expand its portfolio by offering customized solutions to suit every client’s requirement and need. VAELL, the leading provider of integrated leasing services for a broad range of moveable assets and machinery across the region, has geographical coverage with fully-fledged subsidiaries in Uganda, Rwanda, Tanzania and Zambia. The leasing firm has a correspondent relationship with other leasing companies in South Africa and India. It facilitates clients with vehicles and machinery throughout the region from one country office across its network.

In 2014 VAELL won the award for the Best in Transport, in the Top 100 KPMG/Business Daily survey, and in 2015 shot into Club 101 in the same survey. It has scooped 18 awards in the last 5 years. The leasing market leader was named in 2018 by East African Business Council Tanzania as the best East African Company in the Service Sector. The lessor has also been named in South Africa’s Titan Building Nation awards in the outstanding achievement category.

VAELL was recently hosted by Nairobi Securities Exchange (NSE) on its premium incubation and acceleration programme, Ibuka. VAELL also owns Quipbank Trust Limited, an equipment-sharing platform and Tinga, East Africa’s largest tractor-share platform.

For further details and updates, please contact;

Jared Oundo,                                                                       

Head of Corporate Communications,



Cell: +254 719408244/0780408244


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