Asset financier MOGO has invested Sh192 million to finance over 1,000 electric vehicles (EVs), bolstering Kenya’s transition to eco-friendly transportation.

Following the launch of Kenya’s first all-electric motorbike shop in May, MOGO has expanded e-bike availability to nine branches nationwide, with Nairobi and the Coast region recording the highest adoption rates.

“MOGO is committed to making EVs accessible and affordable, enabling boda boda operators to boost their income while advancing Kenya’s e-mobility sector,” said Rauls Leitis, Electric Vehicles Financing Manager at MOGO Kenya.

The firm has partnered with leading e-bike manufacturers, including Ampersand and Roam, to provide affordable financing options, aiming to lower entry barriers for operators transitioning to zero-emission vehicles.

According to the World Economic Forum, one of the biggest challenges to EV adoption in Africa is the high upfront cost. MOGO is tackling this head-on by offering financing options with down payments as low as KES 25,000 for new electric bikes, making the transition to e-mobility easier for boda boda operators.

Unlike diesel-powered bikes, electric bikes are cheaper to run and maintain. Boda boda operators can save at least Ksh200 per day, or over Ksh100,000 annually, due to lower energy costs and fewer maintenance needs.

A study by the UN Environment Programme shows that an average motorcycle pollutes the air 10 times more per mile than a passenger car, light truck, or SUV. With Kenya targeting a 32% reduction in greenhouse gas emissions by 2030, the transport sector—especially boda bodas—is a crucial focus.

“MOGO is committed to supporting Kenyans in transitioning to e-bikes and contributing to the decarbonization of the boda boda sector by providing a trade-in option to customers with fuel bikes. This sector is vital for millions of Kenyans who rely on it for flexible, affordable transport,” added Rauls.