Kenya has secured US backing for affordable e-mobility programs.
The U.S. and Mogo, which is an asset financier, have agreed to support the uptake of electric mobility in the country.
U.S. Ambassador to Kenya Meg Whitman, has praised Kenya’s progress in decarbonising its transport sector.
Mogo is one of three e-mobility companies in Kenya that have collectively received about 3.9 billion shillings in financing from the U.S.
International Development Finance Corporation. Mogo has already invested 3 billion shillings of this funding into expanding its EV financing portfolio, supporting Kenya’s green mobility initiatives by providing zero-emission vehicle financing to individuals and businesses in the transportation sector.
Mogo’s financing is currently concentrated on e-bikes and three-wheelers.