M-KOPA and Bolt Forge Alliance to Revolutionize Kenya's Ride-Hailing Scene

M-KOPA and Bolt Forge Alliance to Revolutionize Kenya's Ride-Hailing Scene

By Staff Writer, 23 April 2024

M-KOPA, a Nairobi-based prominent financial technology platform that specializing in digital financial solutions for underserved communities across Africa, has teamed up with Bolt to introduce an innovative electric motorcycle (e-bike) initiative in Kenya.

The strategic partnership, led by M-KOPA’s Mobility division, aims to roll out more than 5,000 e-bikes nationwide over the next three years, providing drivers with the ability to make convenient digital micropayments.

This initiative aligns with Kenya’s push towards embracing e-mobility, demonstrated by the recent introduction of its National E-mobility Policy draft.

The policy seeks to stimulate local production and assembly lines for electric vehicles (EVs), positioning Kenya as a progressive player in sustainable transportation.

By combining Bolt’s extensive ride-hailing network with M-KOPA’s reputation as a leading financier for e-bikes in Kenya, the partnership will grant Bolt drivers access to ROAM and Ampersand electric motorbikes at a significantly reduced rate compared to standard market prices.

This makes e-bikes a financially feasible option for drivers.

The collaboration is expected to substantially decrease total ownership expenses for drivers, with estimated savings of approximately 40% compared to traditional petrol-powered motorcycles.

To acquire the e-bikes, drivers will utilize vehicle financing facilitated through a partnership agreement involving M-KOPA, ROAM, and Ampersand.

Once leased, drivers will operate exclusively within the Bolt platform. Upon fulfilling the lease terms, they will gain full ownership of the electric bikes.

This approach not only promotes the adoption of eco-friendly technology but also offers drivers a viable path to asset ownership.

Source: Tapiwa Matthew Mutisi / Innovation Village

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