Kenya has unveiled its first electric-motorcycle financing scheme, a flagship partnership linking local e-mobility maker Roam, micro-lender Fortune Credit and climate-finance specialist GreenMax Capital Advisors.
The programme is designed to put affordable, zero-emission motorcycles in the hands of both small businesses and boda-boda riders who have long been shut out of formal credit.
Speaking during the Launch at Roam’s Nairobi Assembly Plant, Habib Lukaya, the Company’s Regional Sales Operations Manager, said the high upfront cost, not technology, remains the chief obstacle to Kenya’s two-wheeler electrification.
“The biggest blocker for transitioning to electric mobility in Kenya has been access to financing, especially for end users and small businesses. With Fortune Credit on board as a trusted local financier, we are removing that barrier,” said Lukaya.
Roam’s locally assembled Air Gen 2 motorcycle ships with a swappable battery and access to the firm’s growing network of charge-swap kiosks.
Lukaya said the Company already operates a service hub in Machakos and will open outlets in Eldoret and Mombasa by December, so customers can buy, charge and maintain under one roof.
Bernard Mwonyoyo, Chair of Fortune Credit, framed the loan product as a lifeline for clients that commercial banks routinely overlook.
“Fortune Credit serves those others would not dare touch; we tailor our products to the needs of the people, including those hit hardest by climate change. Today, we’re not just launching a loan; we’re offering dignity and access,” said Mwonyoyo.
He noted that each facility carries rider health insurance that pays a cashback if the borrower is hospitalised, preventing default during downtime.
Fortune Credit, now in its second decade, operates eight branches countrywide and a mobile-lending platform that reaches riders beyond its physical footprint.
Underpinning the arrangement is GreenMax’s concessional Green for Access Fund. Managing Director, David Ekabouma said the guarantee facility reduces risk for local lenders and allows Fortune Credit to offer friendlier terms.
“We’re not just here to launch a product; we are planting a flag that says clean energy belongs to everyone, too many hardworking Kenyans have been locked out of the green transition, not because they lack ambition, but because our financial systems were not designed for them,” Ekabouma declared.
He said that the fund’s first tranche will finance more than 600 motorcycles equipped with telematics that let Roam monitor battery health and help Fortune secure the collateral.
“This isn’t just a bike; it’s income for a single mum in Kisumu, lower fuel costs for a youth-run delivery business in Kayole, and a cleaner Nairobi skyline,” he said.
The 2024 Finance Act zero-rated import duty on e-bike components, while draft e-mobility regulations propose a dedicated tariff for charging.
“The green transition will not be real until it is affordable for ordinary Kenyans,” Ekabouma stressed.
He urged County governments to license battery-swap kiosks quickly and to reserve last-mile delivery tenders for electric fleets.
By Brenda Oluoch
