Kenya: Bolt partners with M-KOPA to lease electric motorcycles to its riders

Bolt in collaboration with M-KOPA have introduced a groundbreaking initiative aimed at providing electric motorcycles to riders within Bolt’s network.

This partnership presents an exciting opportunity for both prospective and current drivers, allowing them access to ROAM and Ampersand electric motorbikes at a discounted rate.

The collaboration is strategically geared towards bolstering driver incomes by slashing operational expenses in the market. Additionally, it serves a dual purpose of promoting eco-friendly urban mobility, aligning with international endeavors to mitigate climate change.

This partnership encompasses the rollout of 5,000 electric motorcycles, in sync with Kenya’s recent introduction of the National E-mobility Policy. The policy aims to foster local production and assembly of electric vehicles (EVs). These electric bikes provide drivers with a financially advantageous option, allowing them to optimize earnings while reducing costs.

M-KOPA is Kenya’s largest financier of electric motorbikes having already financed approximately two-thirds of the electric bikes on Kenya’s roads. 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.

Riders on the Bolt platform will be able to access an electric bike for as low as Ksh. 10,000 to Ksh. 15,000, through vehicle financing, enabled by the partnership between M-KOPA, ROAM and Ampersand.

Caroline Wanjihia, Regional Director, RideHailing Operations, Africa & International Markets, said: “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. 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 – M-KOPA Mobility, added: “As the leading financier of electric motorbikes in Kenya, we’re 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 2 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.”

In 2021, Bolt introduced a new ride category on its platform dubbed Bolt Green which offers eco-friendly rides. The category has hybrid and electric cars to reduce emissions during trips taken on the Bolt platform.

To kickstart its launch strategy, Bolt will initially introduce the electric bikes in Nairobi, with expansion plans set for the near horizon.