Dutch development bank FMO confirmed on July 23, 2026, a $30 million senior debt facility for M-KOPA Kenya Mobility, the electric mobility subsidiary of Kenyan fintech group M-KOPA. The deal illustrates the growing appeal of Africa's electric two-wheeler sector to international development financiers.
A Three-Tranche Structure
The financing is structured in three components: $22.5 million in direct loans, $7.5 million to refinance an existing facility, and up to $23 million to fund the acquisition of new electric motorcycles by customers. M-KOPA Kenya Mobility, created in 2023, is a direct offshoot of the M-KOPA group founded in 2012, which today serves more than 10 million customers in five African countries (Kenya, Uganda, Nigeria, Ghana, South Africa).
Pay-As-You-Go Applied to Electric Motorcycles
M-KOPA Kenya Mobility finances electric motorcycles through a pay-as-you-go model, bundled with insurance, roadside assistance, anti-theft tracking and warranties. This model allows lower-income riders to access electric motorcycle ownership without a significant upfront payment, paying progressively from the income generated by their activity — typically deliveries or passenger transport (boda boda).
Kenya, Epicentre of the E-Moto Revolution
The financing arrives in a context of strong growth in the Kenyan market. In 2025, Kenya surpassed 25,000 electric motorcycles sold — three times more than the previous year — already representing 15% of all new motorcycle registrations in the country. FMO's objective is to accelerate this adoption by easing access to credit for riders.
Why It Matters
This $30 million financing is more than an ordinary banking transaction: it illustrates how development finance institutions (DFIs) are beginning to play a catalytic role in the transition to clean mobility in Africa. For the Indian Ocean region, where two-wheelers remain a central mode of transport — in Madagascar, Réunion and Mauritius — these innovative financing models could progressively transform delivery and informal transport fleets.