Mogo Finances Over Ksh192 Million Worth of Electric Vehicles

Asset financier MOGO says that it has financed over 1,000 electric vehicles (EVs) worth more than Ksh192 million, accelerating Kenya’s e-mobility drive.

In May, MOGO launched Kenya’s first all-electric motorbike shop on Jogoo Road, Nairobi. Today, MOGO’s e-bikes are available in nine other branches across the country, with Nairobi and the Coast seeing the highest adoption rates.

“This rapid growth reflects Kenya’s embrace of e-mobility,” said Rauls Leitis, Electric Vehicles Financing Manager at Mogo Kenya.

“MOGO is leading the charge to make EVs affordable for all, helping boda boda operators boost their income while playing a key role in transforming the transport sector with zero-emission e-bikes.”

MOGO has partnered with e-bike manufacturers such as Ampersand, Roam, Arc Ride, and Spiro, ensuring that operators get bikes with flexible financing.

According to the World Economic Forum, one of the biggest challenges to EV adoption in Africa is the high upfront cost. MOGO is tackling this head-on by offering financing options with down payments as low as KES 25,000 for new electric bikes, making the transition to e-mobility easier for boda boda operators.

Unlike diesel-powered bikes, electric bikes are cheaper to run and maintain. Boda boda operators can save at least Ksh200 per day, or over Ksh100,000 annually, due to lower energy costs and fewer maintenance needs.

A study by the UN Environment Programme shows that an average motorcycle pollutes the air 10 times more per mile than a passenger car, light truck, or SUV. With Kenya targeting a 32% reduction in greenhouse gas emissions by 2030, the transport sector—especially boda bodas—is a crucial focus.

“MOGO is committed to supporting Kenyans in transitioning to e-bikes and contributing to the decarbonization of the boda boda sector by providing a trade-in option to customers with fuel bikes. This sector is vital for millions of Kenyans who rely on it for flexible, affordable transport,” added Rauls.

By financing electric bikes, MOGO is not just enabling greener transportation—it’s driving a cleaner, more sustainable future for Kenya.

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