MasterCard Foundation Supports Affordable E-Mobility Financing To Empower Women And Youth

In a significant move towards sustainable transportation and economic empowerment, the Mastercard Foundation has partnered with electric mobility company Roam and digital credit provider 4G Capital to introduce an affordable financing program for electric motorcycles in Kenya.

This initiative aims to make electric motorcycles more accessible to the country’s boda boda riders, with a particular focus on empowering women and youth.

Under this program, riders can acquire a Roam Air electric motorcycle by making a deposit of KES 25,000, followed by daily payments of KES 460 over a span of 24 months. For those opting for an additional battery, an extra upfront payment of KES 5,000 is required, along with daily installments of KES 207.

This financing structure is thoughtfully aligned with the daily income patterns of most riders, ensuring that ownership is attainable without imposing significant financial strain.

This initiative is part of the Jiinue Growth Program (JGP), a five-year partnership backed by the Mastercard Foundation, which seeks to provide access to finance for young people and women-led businesses across Kenya’s 47 counties.

The program collaborates with financial ecosystem players to offer both financing and technical support to Micro, Small, and Medium-sized Enterprises (MSMEs), thereby supporting their resilience and growth.

By facilitating the ownership of electric motorcycles, the program not only promotes sustainable transportation but also provides economic opportunities for women and youth in the boda boda sector.

This aligns with the Mastercard Foundation’s broader commitment to supporting young people and women in tapping into entrepreneurship for economic prosperity and employment generation.

This initiative represents a significant step towards integrating sustainable practices within Kenya’s transportation sector while simultaneously empowering marginalized groups, thereby contributing to the country’s socio-economic development.

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