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Watu Credit Sets The Record Straight Concerning Motorbike Theft As It Goes Ham On e-Mobility

BY Soko Directory Team · May 17, 2024 07:05 pm

Watu Credit, an Asset FinTech revolutionizing mass-market mobility across Africa through financial inclusion and accessibility, has once again come out to set the record straight following allegations that most of the motorbikes they give to their customers are often stolen, saying most of the stolen two-wheelers do not belong in their fleet.

According to Watu Credit, of the more than 400,000 motorbikes that they have financed for Kenyans, less than 100 have been reported lost, of which, 96 have been successfully recovered with the help of the National Police Service. This makes it one of the most efficient entities in terms of the motorbikes given out, those reported lost, and those recovered.

“From our current portfolio of 400,000 financed motorbikes, less than 100 bikes have been reported as lost. Where reports are made, we cooperate with investigative and insurance companies to ensure speedy resolution. In 2023, at least 100 motorbikes financed by Watu Credit were reported stolen. Using our fleet management and tracking solution, 96 bikes were successfully recovered with the support of the National Police Service,” said the company in a statement.

Having been in Kenya for nine years, Watu Credit has contributed over 5 billion shillings in taxes, contributing directly to Kenya’s fiscal well-being. The company has so far extended financial and digital inclusion to over 1.3 million customers around the country with over 500,000 loans for mobility assets and 800,000 loans for smart connected devices.

“Watu takes immense pride in its role as a patriotic and committed Kenyan business. Throughout the past nine years, we have been dedicated to making substantial contributions to the Kenyan economy, as well as to the welfare of our fellow citizens and the general public,” the company added.

As the country moves towards embracing e-mobility and following the recent publishing of a draft National Electric Mobility Policy at Watu Boda, the company has announced that it is committed to financing the acquisition of more than 500,000 Electric Motorbikes by 2030.

“We plan to invest more than 1.3 billion shillings in accelerating efforts to transition from financing fossil fuel-powered motorbikes to electric bikes progressively by actively bridging the financing gap, which has been identified as a critical barrier to the acquisition of Electric Vehicles, including two—and three-wheel motorbikes,” said Watu.

The company has called on its customers to take advantage of the dedicated customer service center to enable them to make the necessary queries and provide reports that require our corporate attention. Customers can also check their loan balance by dialing *876# and following the prompts on the USSD solution with customer service support from 6 a.m. to 10 p.m. daily, including weekends.

Read Also: How Watu Is Driving the Charge Toward An Electric Vehicle Future

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