The U.S. International Development Finance Corporation (DFC) is giving Kenya’s transportation sector a clean energy boost. They have announced a $10 million loan to MOGO Kenya, a company within the Eleving Group.

This funding will make electric cars, motorcycle taxis, and logbook loans more affordable for Kenyans. This move aligns perfectly with President Ruto’s vision for a greener Africa through the Africa Green Industrialization Initiative.

It also shows the DFC’s continued dedication to supporting Kenya’s growing electric mobility market.

MOGO Kenya: Championing Affordable E-Mobility Solutions

MOGO Kenya, a leading financial solutions provider within the Eleving Group, is at the forefront of this e-mobility revolution. They specialise in offering affordable financing options for vehicles, motorcycles, and logbook loans, making ownership of new technology more accessible.

Their commitment to e-mobility is further solidified by their collaborations with Kenyan electric mobility companies like Roam.

In April 2024, MOGO Kenya and Roam joined forces to empower electric boda boda riders. Through innovative financing packages, they facilitated the transition to electric motorcycles, leading to a remarkable 30% increase in daily earnings for riders.

This impactful partnership demonstrates the direct benefits of e-mobility, not only for the environment but also for the livelihoods of Kenyans who rely on boda bodas for their income.

Further solidifying their commitment to the e-mobility ecosystem, MOGO Kenya recently opened the first-ever electric motorbike shop in the country, offering a dedicated space for electric vehicle sales and service.

A Broader Vision: Green Transformation in Nairobi

A small part of Kenya’s efforts to promote green transport is the DFC loan to MOGO Kenya. The Millennium Challenge Corporation (MCC) is also playing a crucial role, recently announcing a $60 million grant to support a four-year programme focused on improving transportation in Nairobi.

This programme prioritises the needs of underserved groups, ensures safer options for women pedestrians, and promotes climate-friendly public transportation.

With a projected impact on over four million residents, the MCC grant has the potential to significantly improve urban mobility while reducing transportation sector emissions, contributing to a cleaner and more sustainable Nairobi.

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Partnerships for a Sustainable Future

The DFC loan and MCC grant represent a powerful partnership, working together to drive Kenya towards a greener transportation future.

MOGO Kenya’s financing solutions will make electric vehicles more accessible to a wider range of Kenyans, while the MCC grant will ensure essential infrastructure improvements for a more connected, mobile, and environmentally friendly Nairobi.

This combined effort has the potential to transform transportation in Kenya, prioritising accessibility, safety, and sustainability for all.

The success of these initiatives paves the way for a future where clean and efficient transportation options are not just a luxury but a reality for all Kenyans.