NAIROBI — Kenya has launched its first financing program for electric motorcycles, aiming to help riders and small businesses access clean, affordable transport. The initiative brings together e-bike manufacturer Roam, micro-lender Fortune Credit, and GreenMax Capital Advisors.
The partnership targets boda boda riders and entrepreneurs who often lack access to bank loans. The financing scheme is backed by GreenMax’s Green for Access Fund, which cushions lenders against risk, enabling lower repayment terms.
Speaking at Roam’s Nairobi assembly plant, Habib Lukaya, Roam’s Regional Sales Operations Manager, said price remains the main hurdle. “The biggest blocker for transitioning to electric mobility in Kenya has been access to financing, especially for end users and small businesses,” he said. “With Fortune Credit on board as a trusted local financier, we are removing that barrier.”
Roam’s locally built Air Gen 2 model comes with a swappable battery and access to the company’s charging kiosks. The firm currently operates a service hub in Machakos and plans to expand to Eldoret and Mombasa before the end of the year.
Fortune Credit Board Chair Bernard Mwonyoyo described the loan product as a tool to empower underserved borrowers. “Fortune Credit serves those others would not dare touch,” he said. “Today, we’re not just launching a loan, we’re offering dignity and access.”
Each loan package includes a health insurance benefit that pays a cash rebate if the rider is hospitalized, reducing risk of loan default during recovery. Fortune Credit, in operation for over 10 years, runs eight branches across Kenya and a mobile lending app that reaches remote borrowers.
GreenMax Managing Director David Ekabouma said the first phase of the fund will finance more than 600 electric bikes, each fitted with digital tracking systems to monitor battery condition and ensure loan security.
“This isn’t just a bike,” Ekabouma said. “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.”
The program arrives on the back of key policy shifts. The 2024 Finance Act removed import duty on e-bike parts, and new draft regulations are set to introduce a dedicated electricity tariff for charging.
“The green transition will not be real until it is affordable for ordinary Kenyans,” Ekabouma emphasized.
Speakers called on county governments to license battery-swap kiosks quickly and prioritize electric vehicles in government delivery contracts.
The launch marks a major step in Kenya’s push to grow its electric vehicle market and reduce emissions while unlocking credit access for low-income earners.
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