The news:
- M-KOPA, a Nairobi-headquartered fintech platform that provides digital financial services to underbanked Africans, and Bolt have announced the launch of their electric motorcycle fleet in Kenya.
- Under the partnership, which M-KOPA’s Mobility division will manage, both companies will introduce more than 5,000 new electric bikes (e-bikes) in the East African country over the next 3 years, enabling flexible digital micropayments for drivers
- The development is coming after Kenya’s release and launch of its National E-mobility Policy draft, expected to accelerate local production and assembly of electric vehicles (EVs).
Bolt’s collaboration with Kenya’s largest financier of e-bikes will allow new and existing drivers within the country to lease ROAM and Ampersand electric motorbikes at a discounted price, compared to prevailing market rates.
This approach aims to save approximately 40% in total ownership costs compared to petrol motorbikes.
To access the e-bikes, drivers must join the fleet through vehicle financing made possible by the agreement among M-KOPA, ROAM and Ampersand. Then, the drivers must operate exclusively on the Bolt platform and own the bikes after the lease period.
With zero emissions and lower maintenance requirements compared to traditional vehicles, the two companies expect the arrangement to increase driver earnings by minimising expenses, and contributing to environmental sustainability efforts in the country.
Bolt has been supporting eco-friendly efforts in Africa through investments in projects focused on renewable energy and resource conservation since 2019.
In 2021, the company introduced Bolt Green, a new ride category on its platform operating in Nairobi with hybrid and electric cars, to provide environmentally friendly rides as part of efforts to reduce its carbon footprint in the country.
David Damberger, Managing Director of M-KOPA Mobility, stated the company’s commitment to redefining mobility in Kenya through affordable financing solutions for e-bikes, especially for the underbanked population.
Founded in 2011, M-KOPA is a fintech M-KOPA that provides digital financial services to underbanked Kenyans by using data to combine digital micropayments with the Internet of Things (IoT) technology.
So far, M-KOPA says it has given customers more than $1 billion in credit and provided 4 million customers with access to smartphone financing, digital loans and health insurance. The company currently operates in Nigeria, Kenya, Uganda, and Ghana.
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In Kenya, M-KOPA is the largest financier of e-bikes and controls about two-thirds of the market.
