BodaBoda riders in Kenya are set to benefit as two companies introduce affordable credit options to purchase electric motorcycles.
In a bid to support the growing demand for affordable transportation options and combat rising fuel costs, two prominent companies in Kenya have joined forces to offer innovative solutions to bodaboda riders.
Roam, a pioneer in electric mobility, has partnered with Mogo Finance, a leading asset financier in East Africa, to introduce accessible credit facilities tailored for the purchase of electric motorcycles.
“This collaboration not only aims to facilitate the transition to cleaner and more sustainable transportation but also seeks to empower individuals, particularly boda boda riders, to enhance their daily earnings,” read a statement released by the two firms in part.
Through this initiative, Roam plans to establish three in-store locations in Nairobi under the MOGO brand, with discussions underway to expand to over 15 additional locations across Kenya.
This expansion strategy as indicated by the two firms aims to ensure a wide reach and improved service for a diverse customer base, facilitating easier access to affordable electric motorcycles.
Deal to Offer Flexible Credit Options
Mikael Gånge, Co-Founder and Chief Commercial Officer of Roam, highlighted the deal’s potential to tap into the growing market of bodaboda riders seeking to transition to electric motorcycles amid escalating petrol prices.
He emphasized the importance of leveraging Mogo’s facilities in asset financing to offer flexible payment options that enable bodaboda riders to realize immediate cost savings.
“By leveraging Mogo’s expertise in asset financing, we’re able to offer flexible financing options that make sure customers save money on day one. At Roam, our mission is clear, we want to provide the best and most affordable electric motorcycle to the market and Mogo is a great partner in accelerating that mission.” said Mikael Gånge, Co-Founder and Chief Commercial Officer of Roam
Gånge reiterated Roam’s commitment to providing affordable electric motorcycles to the market, with Mogo serving as a partner in accelerating this mission.
Roam’s electric motorcycles represent an advancement in sustainable transportation, offering advanced features and design tailored to various use cases, including personal commuting, cargo transportation, ridesharing, and taxi services.
With Mogo’s support, Roam aims to expedite the deployment of these electric motorcycles, thereby driving environmental and socio-economic impacts in communities across Kenya.
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Rauls Leitis, Business Development Project Manager at Mogo, on his part, highlighted the partnership’s potential to expand access to electric motorcycles in Kenya.
Future of Electric BodaBoda Rides
Leitis predicted that the electric motorcycle market could eventually surpass the petrol-driven market in size, reflecting the growing demand for sustainable transportation solutions.
“We see that the electric motorcycle market is ever expanding and with Roam’s innovative products that enable customers to not only charge at home but also at the Roam Hubs, we believe the electric motorcycle market will eventually become larger than the petrol one.” said Rauls Leitis, Business Development Project Manager at Mogo
The partnership will commence with three MOGO locations in Nairobi, with plans for expansion to additional locations across Kenya to better serve a broader customer base.
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About the 2 Companies
Founded in 2017, Roam is a technology company developing, designing, and deploying electric vehicles tailored for the African continent.
Mogo Kenya, a subsidiary of the Eleving Group, is renowned for providing productive asset financing solutions that create income generation and asset ownership opportunities for underserved populations.
With 26 branches nationwide and a serving over 100,000 clients, Mogo facilitates the adoption of electric motorcycles among bodaboda riders and other transportation stakeholders.
