M-KOPA is expanding its electric mobility financing business to tuk-tuks in Kenya after financing more than 10,000 vehicles, mainly electric motorcycles, as the company seeks to make electric transport more accessible to commercial drivers.
The model allows drivers to acquire vehicles through payments spread over time rather than paying the full purchase price upfront. The expansion brings three-wheelers into a financing approach that has already supported thousands of riders.
Affordability remains a major consideration for drivers weighing a switch to electric vehicles. Brandspur Banking News Desk gathered that M-KOPA estimates riders using its existing electric motorcycle financing model save an average of KES 730 daily after making the switch.
The company is betting that a similar arrangement could help tuk-tuk operators adopt electric vehicles while managing the cost of acquiring assets used to earn a living. For commercial drivers who depend on daily fares, spreading payments over time could reduce the initial financial hurdle of purchasing a vehicle.
However, the long-term benefits will depend on more than access to finance. Industry professionals responding to the announcement highlighted the need for reliable charging facilities, durable batteries, affordable spare parts, trained technicians and dependable after-sales support.
They also cautioned that the reported daily savings could vary depending on repayment obligations, maintenance expenses, charging costs and battery lifespan. These factors will influence how much money drivers ultimately retain from their earnings.
M-KOPA’s expansion reflects an effort to connect asset financing with income-generating opportunities, while extending electric mobility beyond motorcycles. Its performance in the tuk-tuk market will help demonstrate whether the model can work for another category of commercial transport operators.
The development is taking place in Kenya, where the company is seeking to make electric three-wheelers more financially accessible. The approach could offer a useful example for other African markets exploring ways to combine digital financing with the transition to electric transport.
