NCBA Bank has announced a strategic partnership with electric mobility firm ePureMotion to accelerate the adoption of electric vehicles in Kenya. This collaboration aims to make sustainable transport more accessible through tailored asset financing solutions for both private and public vehicle operators. The initiative is set to play a pivotal role in transforming the country's transport sector towards a greener future.
Tailored Financing for a Greener Future
Under the new agreement, qualifying salaried customers seeking to purchase ePureMotion passenger vehicles for personal use can receive up to 100% financing. This comprehensive package offers a flexible repayment period extending up to 72 months, subject to standard credit assessment and eligibility criteria. The move is designed to significantly lower the entry barrier for individuals wanting to transition to electric mobility.
The partnership also extends robust support to Kenya’s vital public transport sector, specifically targeting Public Service Vehicle (PSV) operators. Individual members of PSV SACCOs can access up to 80% financing for 16-seater electric matatus with a 48-month repayment term. Established PSV companies and SACCOs may qualify for even more favorable terms, with up to 90% financing repayable over 60 months.
A Strategic Push for Sustainable Transport
Lennox Mugambi, NCBA's Group Director for Asset Finance and Business Solutions, stated that the initiative reflects the bank's commitment to innovative financing that supports sustainable growth. This partnership is a key component of NCBA's broader KES 2 billion e-mobility financing programme, reinforcing its market leadership in asset finance. The bank aims to empower customers while helping them achieve long-term savings and operational efficiency.
Dr. Gilbert Saggia, CEO and Director of ePureMotion, emphasized that combining their expertise with NCBA's financial capabilities addresses a major hurdle to EV adoption. He noted that a complete ecosystem covering the vehicle, financing, charging, and aftersales support is essential for scaling electric mobility. This collaboration makes the transition more structured and accessible for the people and businesses that drive Kenya's economy.
Capitalizing on Kenya's E-Mobility Momentum
This partnership arrives as Kenya experiences significant momentum in the electric mobility space, supported by a national policy promoting cleaner transport. The country is well-positioned for this shift, generating approximately 90% of its electricity from renewable sources, creating one of the world's cleanest power grids. This initiative directly addresses the transport sector's high contribution to emissions and petroleum consumption.
To ensure a seamless transition for customers, ePureMotion will provide an integrated support package alongside the financing. This includes the electric vehicle, charging infrastructure guidance, and comprehensive aftersales support. Eligible customers will receive benefits such as a portable charger, battery and motor warranties, a free service plan, and discounts at ePure charging stations.
The collaboration between NCBA Bank and ePureMotion marks a significant milestone in Kenya's journey toward sustainable transportation. By merging accessible financing with a complete e-mobility ecosystem, the partnership effectively lowers barriers to entry for a wide range of consumers and businesses. This strategic alliance is poised to accelerate EV adoption, contributing to both economic efficiency and the nation's environmental sustainability goals.