M-Kopa will inject over $10 million (Sh1.34billion) in its East African operations to boost the uptake of electric motorcycles.
The investment follows a new partnership with ride hailing company Bolt, that will see the rollout of over 5,000 electric bikes in the next 3 years.
Through this partnership, new and existing drivers will have the opportunity to lease ROAM and Ampersand electric motorbikes at a discounted price in a bid to spur e bike uptake.
According to Mkopa the move broadens its reach and support more customers in transitioning to sustainable transport solutions.
“We are committed to redefining mobility in Kenya through affordable financing solutions for electric motorbikes, particularly for the underbanked. Partnering with Bolt represents a significant leap towards this goal,” said M-KOPA mobility managing director David Damberger.
Through this collaboration, Bolt will leverage M-KOPA’s fintech platform to make electric motorbike ownership affordable, by substantially reducing the expenses associated with electric motorbikes for drivers.
This approach is expected to lead to approximately 40 percent savings in total ownership costs compared to petrol motorbikes.
Bolts’ Regional Director, ride hailing operations, Africa & international markets, Caroline Wanjihia, said that by the end of this year it is targeting over 1000 e bikes on its platform.
“We are excited to introduce our electric bike fleet, in partnership with M-KOPA, as part of our ongoing efforts to support and empower our drivers. Already there are 500 individuals who have committed for this bikes,” said
Riders on the Bolt platform will be able to access an electric bike for between Sh10,000- 15,000, through vehicle financing, enabled by the partnership between M-KOPA, ROAM and Ampersand.
The 5,000 electric motorcycle rollout comes few months after the launch of Kenya’s National E-mobility Policy, aimed at promoting local production and assembly of EVs.
M-KOPA is Kenya's largest financier of electric motorbikes having already financed approximately two-thirds of the electric bikes on Kenya's roads.
As part of its launch strategy, Bolt will initially deploy the electric bikes in Nairobi, with plans for expansion in the near future.
