Business Reporter
NAIROBI: M-KOPA has financed more than 10,000 electric motorbikes in Kenya, marking a major milestone for its pay-as-you-go electric mobility business as riders increasingly seek lower-cost alternatives to petrol-powered motorcycles.
The milestone comes as M-KOPA expands its electric mobility financing offering to include electric tuk-tuks, opening access to affordable asset financing for another major segment of Kenya’s public and commercial transport sector.
Through its financing model, M-KOPA enables riders and operators to spread the cost of electric vehicles over time, reducing the upfront barrier to acquiring income-generating assets.
According to M-KOPA customer data, riders save an average of KSh530 per day through lower energy and maintenance costs and access to battery-swapping infrastructure. Across more than 10,000 financed motorcycles, this represents an estimated KSh5.3 million in daily savings, or approximately KSh1 billion annually, based on regular daily use.
“Reaching 10,000 financed electric motorbikes reflects growing demand from riders looking to lower operating costs and improve their earnings,” said Brian Njao, General Manager, Mobility, M-KOPA. “We are now applying the same financing approach to electric tuk-tuks, helping operators access cleaner, lower-cost vehicles without the burden of a large upfront payment.”
The expansion comes as Kenya’s tuk-tuk sector continues to play a significant role in the grassroots economy, with the Kenya Tuk Tuk Operators Network estimating more than 250,000 registered tuk-tuks, 750,000 active drivers and 250,000 owners and investors. Access to affordable finance remains a key challenge for operators seeking to acquire or upgrade vehicles.
Electric tuk-tuks are emerging as an alternative that can reduce operating costs while introducing cleaner and digitally enabled mobility solutions suited to Kenyan road conditions. The expansion also follows the launch of Kenya’s National Electric Mobility Policy, which provides a framework for investment, innovation and private-sector participation in electric mobility. Incentives include zero-rated VAT on electric buses, bicycles, motorcycles and lithium-ion batteries, alongside zero excise duty on electric bicycles, motorcycles and lithium-ion batteries.
M-KOPA finances electric motorcycles from manufacturers including Ampersand, Roam and Spiro, and has partnered with Bolt to expand access through financing and rider incentives. Customers also receive M-KOPA Cares, including flexible repayments, insurance, GPS tracking, security features and warranty protection.
The company said the next phase of its mobility strategy will focus on expanding customer access, partnerships and financing across Kenya’s growing electric transport ecosystem.
About M-KOPA
M-KOPA is a leading inclusive fintech that transforms traditional barriers into opportunities for inclusive growth across Africa. Where others see obstacles in providing credit to those without formal salaries or credit histories, M-KOPA has built Africa’s leading smart money platform that starts with financing a smartphone, processes over 2 million payments daily, and has unlocked over $2 billion in credit.
Operating across five African markets, Kenya, Uganda, Ghana, Nigeria and South Africa, M-KOPA provides affordable asset financing (smartphones and e-motorbikes) and digital financial services to micro- entrepreneurs excluded from traditional financial services. M-KOPA smartphones become gateways to comprehensive digital financial services through their embedded services platform, with micro-repayment models that mirror how Every Day Earners actually earn and spend.
M-KOPA has been named to the Financial Times’ Africa’s Fastest Growing Companies list for five consecutive years and to CNBC’s World’s Top Fintech Companies for the second consecutive year, delivered through Africa’s largest direct sales distribution network of more than 40,000 agents.
