NCBA and electric mobility company ePure Motion have signed a strategic partnership to help accelerate the adoption of electric vehicles (EVs) in Kenya. They plan to do this through tailored asset financing solutions for individuals, SACCOs and fleet operators.
Under the agreement, qualifying salaried customers purchasing ePure Motion passenger EVs for private use can access up to 100% financing with repayment periods of up to 72 months, subject to credit approval. Individual Public Service Vehicle (PSV) SACCO members purchasing 16-seater electric matatus can access up to 80% financing over 48 months. On the other hand, existing SACCOs and PSV companies may qualify for up to 90% financing with repayment terms of up to 60 months.
The partnership will also offer preferential financing terms, dealer support on processing costs during the campaign period, flexible insurance options for selected customers and integrated fleet financing models that can include charging infrastructure.
NCBA Group Director of Asset Finance and Business Solutions Lennox Mugambi said the collaboration reflects the bank’s commitment to supporting sustainable mobility through innovative financing.
“Our Asset Finance business has maintained market leadership with over 30% market share. By making electric vehicles more accessible for individuals, SACCOs and fleet operators, we are supporting the transformation of Kenya’s transport sector while helping customers achieve long-term savings and operational efficiency,” he said.
ePure Motion CEO Dr. Gilbert Saggia said access to financing remains one of the biggest barriers to EV adoption in Kenya.
“Electric mobility will scale in Kenya when customers can access the vehicle, the financing, the charging, the service, and the aftersales support as one complete ecosystem,” he said.
For these and more stories, follow us on X (Formerly Twitter), Facebook, LinkedIn and Telegram. You can also send us tips or reach out at info@techarena.co.ke.
Also Read: SBM Bank Kenya Launches KES 1 Billion Green Finance Facility to Accelerate EV Adoption