Asset finance solutions provider Watu Credit has welcomed the publication of the draft national e-Mobility Policy.
The company has committed to spending Sh1.3 billion for the transition of fossil-powered motorbike financing to e-bikes in the next seven years.
Watu says that its goal aligns with the government’s agenda to transition from fossil-powered vehicles to electric ones.
Roads and Transport Cabinet Secretary Kipchumba Murkomen said the policy will guide the development of electric mobility in all transportation modes—roads, rail, air, and maritime—and will provide a transition framework from the internal combustion engine currently in use.
“To achieve this, we are partnering with the private sector, international investors, and academic institutions to build the necessary infrastructure,” Murkomen said.
He emphasized measures to accelerate the adoption of electric vehicles (EVs), including assigning green-colored number plates to all electric vehicles, including two-wheelers.
These special plates aim to raise public awareness about EVs and encourage more people to switch to e-mobility.
Additionally, the ministry is installing charging infrastructure at its headquarters to support EV usage.
Watu Credit plans to bridge the financing gap for electric vehicle acquisition and collaborate with manufacturers to provide vehicles suitable for local conditions.
“At Watu, we are committing to invest more than Sh1.3 billion by 2030 to finance the acquisition of thousands of electric-powered motorbikes in Kenya through our hire purchase option,” said Watu Credit Country Manager Massawe.
“For this to happen, we are working closely with several Manufacturers to deliver tropicalized units that can meet the local road and related operating conditions.”
The government, through its Bottom-Up Economic Transformation Agenda, sees the adoption of electric mobility as crucial for reducing greenhouse gas emissions, providing affordable transport, and leveraging the motorcycle market to develop an electric vehicle industry.
This initiative targets addressing pollution, health issues, and fuel costs while promoting sustainable transportation solutions.
