NCBA, ePureMotion Partner to Expand EV Financing in Kenya
NCBA Bank has announced a strategic partnership with electric mobility firm ePureMotion to increase access to electric vehicles in Kenya.
The agreement introduces financing options for both private motorists and the public transport sector.
Eligible salaried customers will be able to finance up to 100 percent of the cost of ePureMotion passenger electric vehicles for personal use, with repayment periods of up to six years, subject to credit approval.
The two companies are also targeting Kenya’s public transport industry, where adoption of electric mobility has been gathering momentum.
Members of Public Service Vehicle (PSV) saccos purchasing 16-seater electric matatus will be able to access financing of up to 80 percent, repayable over four years.
Existing PSV saccos and established PSV operators may qualify for financing of up to 90 percent, with repayment periods extending to five years, depending on eligibility and approval.
NCBA said the partnership is intended to address one of the biggest barriers to electric vehicle adoption in Kenya, which is access to affordable financing.
Lennox Mugambi, NCBA Group Director for Asset Finance and Business Solutions, said the bank is seeking to support the transition to cleaner transport.
“This partnership demonstrates NCBA’s commitment to fostering sustainable economic growth through innovative and customer focused financing options. Our asset finance business has maintained market leadership with over 30% market share,” Mugambi said.
ePureMotion Chief Executive Officer and Director Dr Gilbert Saggia said the collaboration combines the company’s electric mobility expertise with NCBA’s financing network.
He said this would make electric vehicles more attainable for Kenyan consumers and transport operators.
The partnership forms part of NCBA’s wider Sh2 billion e-mobility financing programme, which is aimed at increasing the adoption of electric vehicles across the country.
The bank said the initiative is expected to support cleaner transportation, create long-term value for customers and communities, and contribute to Kenya’s climate and environmental sustainability objectives.
Kenya has been positioning itself as a regional leader in electric mobility, with growing investment in electric buses, motorcycles and passenger vehicles as the country seeks to reduce fuel costs, cut emissions and expand access to sustainable transport alternatives.
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