Watu Credit Kenya Supports Draft National e-Mobility Policy

Kenya is in the process of unveiling the nation’s e-mobility policy which is now in draft stage. This marks a significant move towards achieving a sustainable transportation sector. On the same note, Kenya has taken strides by unveiling the draft National Electric Mobility Policywhich has been spearheaded by a task force appointed by Roads and Transport CS Kipchumba Murkomen aiming to revolutionize the transportation sector by promoting electric vehicles (EVs). Watu Credit which has become a major force in local asset finance solutions, has expressed its support for the policy and pledged to play a crucial role in facilitating its transition to electric mobility.

Quick Summary:

  • Watu Credit pledges to finance over 500,000 Electric Motorbikes in seven years.
  • The National Electric Mobility Policy aims to guide the transition from fossil-powered vehicles to electric vehicles across all transportation modes.
  • Watu Credit commits to investing more than Kshs 1.3 billion to accelerate the adoption of electric-powered motorbikes.

Embracing Electric Mobility:

By unveiling the draft e-Mobility Policy, Kenya has marked a pivotal moment in its journey towards achieving a sustainable transportation. With a commitment to finance the acquisition of over 500,000 Electric Motorbikes within the next seven years, Watu Credit is poised to be at the forefront of this transformative endeavor. The firm is keen on shifting focus from financing traditional fossil-powered motorbikes to electric bikes which confirms its dedication to fostering environmentally friendly mobility solutions.

Government Collaboration:

Roads and Transport CS Kipchumba Murkomen emphasized the collaborative efforts between the government, private sector, international investors, and academic institutions to facilitate the transition to electric mobility. The policy provides a comprehensive framework for developing electric mobility across various transportation modes which include roads, rail, air, and maritime. Recently, the government showed its commitment through special initiatives such as assigning green-colored number plates to electric vehicles that signify its commitment to promoting EV adoption and raising public awareness.

Corporate Commitment:

Watu Credit’s Country Manager Erick Massawe reaffirmed the company’s commitment to supporting the national electric vehicles transition agenda to bridge the financing gap while collaborating with manufacturing partners such as Arc Ride and GOGO Electric. The firm aims to provide accessible and affordable electric mobility solutions tailored to local conditions with initiatives such as investing more than Kshs 1.3 billion by 2030 to facilitate the acquisition of electric-powered motorbikes through hire purchase options.

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