Patmoz
By Dennis Muritu
In a significant move towards sustainable transportation and economic empowerment, the Mastercard Foundation, through its Jiinue Growth Program (2022-2027), is supporting a groundbreaking partnership between Roam, a leading Kenyan electric mobility company, and 4G Capital, a Central Bank of Kenya-licensed digital credit provider.
The initiative aims to provide affordable financing for electric motorcycles, specifically targeting women and youth entrepreneurs in the boda boda industry.
The collaborative effort introduces a financing program that allows riders to own a Roam Air electric motorcycle with a single battery for daily payments as low as KES 460.
This innovative financing model is designed to significantly reduce operational costs, with riders saving an estimated KES 500 daily compared to traditional internal combustion engine (ICE) motorcycles.
A key feature of the Roam Air is its portable charging capability, allowing riders to charge their motorcycles from any standard power outlet. This eliminates the need for dedicated charging stations and significantly lowers charging costs, with riders spending only KES 80 for an 80 km range on a single battery.
“Roam is committed to creating a future where mobility is affordable, sustainable, and inclusive,” stated Stephen Kahuthia, Roam Sales Field Manager. “Our partnership with 4G Capital reflects our shared vision of empowering boda boda riders with solutions that drive economic growth and environmental stewardship.”
The financing structure is tailored to the daily income model of boda boda operators. Riders can secure a motorcycle and single battery with a KES 25,000 deposit and make daily payments of KES 460 for 24 months to achieve full ownership.
An additional battery option is available with a KES 5,000 top-up on the deposit and an extra KES 207 in daily payments over the same period. Mobile money integration streamlines the payment process, allowing riders to focus on their businesses.
“We are partnering with Roam to support their mission of accelerating the adoption of clean, sustainable transportation solutions,” said Valentine Nasila, Head of Partnerships at 4G Capital. “This partnership aligns with our vision of creating opportunities for growth and economic empowerment. Additionally, collaborating with Roam offers riders a unique opportunity to transition to eco-friendly electric mobility while simultaneously achieving ownership of their electric motorbike. This partnership is about boosting incomes, saving on costs, and contributing to a greener future.”
The initiative, supported by the Mastercard Foundation’s Jiinue Growth Program, not only provides financial access but also includes comprehensive insurance, ensuring riders can operate with peace of mind. By lowering financial barriers and promoting sustainable transportation, the partnership is set to transform the boda boda sector, offering greater economic opportunities for women and youth while driving Kenya towards a cleaner, more affordable economy.
Shadrack Nyakoe
