Bolt, Africa’s leading on-demand mobility service, has partnered with M-KOPA, a premier African fintech platform, to introduce a fleet of electric motorcycles in Kenya. This pioneering initiative aims to enhance driver earnings and contribute to global efforts to combat climate change by introducing more than 5,000 electric bikes over the next three years.
Driving Economic & Environmental Change
The collaboration between Bolt and M-KOPA is designed to offer both new and existing drivers the chance to lease electric motorbikes from ROAM and Ampersand at rates lower than the current market prices. This strategic initiative is part of Bolt’s broader commitment to reducing operational costs for drivers and promoting eco-friendly urban mobility solutions. It aligns seamlessly with the recent introduction of Kenya’s National E-mobility Policy, which encourages local production and assembly of electric vehicles (EVs).
Electric motorcycles present a cost-effective alternative for drivers, enabling them to maximize earnings while minimizing expenses. These vehicles are celebrated for their zero tailpipe emissions and lower maintenance needs compared to traditional motorbikes, making them an environmentally and financially viable option.
Financial Empowerment through Technology
M-KOPA plays a crucial role in this partnership. The company has already financed about two-thirds of the electric bikes currently on Kenyan roads. By integrating its fintech platform into this initiative, M-KOPA allows drivers to own electric motorbikes at substantially reduced costs, achieving nearly 40% savings in total ownership costs compared to petrol bikes.
Through the subsidy provided by Bolt, drivers can acquire an electric motorbike at a cost comparable to, or even lower than, a petrol counterpart. The significant reduction in energy and maintenance expenses could decrease vehicle operating costs by up to 75%, making a considerable difference in daily earnings for drivers.
Commitment to Sustainable Development
Speaking on the launch, Caroline Wanjihia, Regional Director of RideHailing Operations for Africa & International Markets at Bolt, expressed enthusiasm about the positive impact of the electric bike fleet. “This marks a significant milestone in Bolt’s mission to provide sustainable and financially viable transportation solutions in Kenya,” she stated. By leveraging electric vehicles, Bolt not only aims to reduce its environmental footprint but also enhance driver earnings and improve overall economic stability within the communities it serves.
David Damberger, Managing Director of M-KOPA Mobility, also highlighted the transformative potential of this partnership, stating, “Partnering with Bolt represents a significant leap towards redefining mobility in Kenya through affordable financing solutions for electric motorbikes, particularly for the underbanked.”
Future Prospects and Expansion Plans
The initial rollout of electric bikes will focus on Nairobi, with plans for further expansion. Bolt’s initiative is well-supported by its continued investment in renewable energy and resource conservation projects. Since 2019, the company has introduced several eco-friendly initiatives, including the Bolt Green ride category, which features hybrid and electric cars to reduce emissions on the platform.
This partnership between Bolt, M-KOPA, and leading electric motorbike manufacturers ROAM and Ampersand sets a precedent for the ride-hailing and delivery industry in Kenya. It represents a scalable, win-win solution for the economy, the environment, and the continued habitability of our planet.
As Kenya continues to navigate the path towards sustainable development, this initiative by Bolt and M-KOPA serves as a beacon of innovation and empowerment, promising a greener, more prosperous future for all.
