Energy fintech company M-KOPA has partnered on-demand mobility firm Bolt to launch an electric bike fleet in Kenya, aimed at boosting driver earnings and combatting climate change.
The partnership will give new and existing Bolt drivers the opportunity to lease ROAM and Ampersand electric motorbikes at a discounted price in comparison to current market rates, boosting earnings through a reduction in operational costs and helping the market move towards eco-friendly urban mobility.
The 5,000 electric motorcycle rollout aligns with the recent 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.
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.
“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. This marks a significant milestone in Bolt’s mission to provide sustainable and financially viable transportation solutions in Kenya. By leveraging electric vehicles, we are not only reducing our environmental footprint, but also aim to enhance driver earnings and improve overall economic stability within the communities that we serve,” Caroline Wanjihia, regional director for ride-hailing operations for Africa and international markets at Bolt, said.
“Considering all financial incentives and reduced operating costs, drivers participating in this pilot launch could see significantly increased daily earnings compared to petrol motorcycles. This initiative underscores our commitment to driving positive change and fostering economic empowerment within our driver community.”
David Damberger, managing director at M-KOPA Mobility, said his company was 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, enabling us to broaden our reach and support more customers in transitioning to sustainable transport solutions. Already, we have made substantial inroads since launching our Mobility division in 2022, in collaboration with ROAM and Ampersand. With over two million motorbikes navigating Kenya’s roads, now is the time for us to extend our reach, as we set to positively impact the environment significantly by reducing carbon emissions and saving on fuel costs – an essential keystone of Kenya’s sustainable development,” he said.
