Proto Energy, Equity Bank roll out LPG financing products
Proto Energy and Equity Bank have partnered to expand access to financing for customers seeking to adopt LPG solutions in Kenya.
The partnership introduces two products: an Autogas Conversion Loan and an Institutional LPG Conversion Loan, targeting one of the key barriers to LPG uptake, the upfront cost of infrastructure, equipment and conversion services.
The Autogas Conversion Loan will allow motorists, taxi and ride-hailing operators, public service vehicle owners, SMEs and corporate fleets to finance the conversion of eligible vehicles to dual-fuel Autogas systems. Proto Energy will provide technical expertise and conversion services through its OTOGAS brand, while Equity Bank supplies the financing.
Kenya had about 20,000 vehicles converted to Autogas by the end of 2024. The partners are targeting 40,000 conversions.
The Institutional LPG Conversion Loan targets schools, colleges, universities and other institutions transitioning to or expanding their use of LPG, covering infrastructure, equipment and installation costs.
Proto Energy Managing Director Joel Kamau said the partnership gives customers an end-to-end pathway to LPG adoption.
“Our partnership with Equity Bank addresses a critical barrier to LPG adoption by making financing more accessible. Whether it is a motorist converting to Autogas or an institution transitioning to LPG, customers can now access financing alongside the technical expertise, infrastructure and reliable supply required to make that transition successfully,” Kamau said.
Equity Bank Managing Director Moses Nyabanda said the lender’s role was to ease the cost burden of the switch.
“Financing can play an important role in helping customers overcome the upfront costs associated with adopting LPG. Through our partnership with Proto Energy, we are enabling motorists and institutions to access financing for LPG solutions while supporting the transition to cleaner and more efficient energy,” Nyabanda said.
Under the arrangement, Equity Bank will provide the financing while Proto Energy supplies technical expertise, LPG infrastructure and supply. The two firms said they will explore further opportunities to expand financing and LPG solutions in the market.
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