In a significant stride towards sustainable urban mobility, Watu Credit (Watu), an asset financing company, has joined forces with Spiro Kenya, a leading provider of electric two-wheelers. This collaboration aims to revolutionize access to financing for electric motorcycles in Kenya. With Spiro’s presence in multiple African countries, this partnership holds the promise of transforming the electric vehicles market, starting in Mombasa and expanding across the nation.

Quick Summary

  • Strategic Partnership: Watu Credit and Spiro Kenya collaborate to provide accessible financing for electric motorcycles.
  • Expanding Reach: Watu plans to leverage its dealership network to make Spiro electric bikes available to customers through affordable financing, starting in Mombasa and extending to over 300 dealers countrywide.
  • Sustainable Mobility: Spiro, with an assembling plant in Mombasa, has become a leading provider of electric two-wheelers in Africa, emphasizing their environmental friendliness and minimal maintenance.

Empowering Electric Mobility

Erick Massawe, Kenya Country Manager at Watu, expressed the strategic vision behind the partnership during the announcement in Nairobi. Through this collaboration, Watu aims to utilize its extensive dealership network to make Spiro’s electric bikes accessible to customers through affordable financing. The initial focus on Mombasa is set to be a stepping stone, with plans to expand the initiative across a vast network of over 300 dealers countrywide. This move not only facilitates the financing of electric motorcycles but also contributes to the broader goal of expanding the electric vehicles market in Kenya.

Spiro’s Impactful Presence

Spiro Kenya has made significant strides in sustainable urban mobility, establishing an assembling plant in Mombasa. The company has become a trailblazer in the electric two-wheeler sector in Africa, operating in Kenya, Benin, Togo, Rwanda, and Uganda. Kshitij Sharma, Managing Director of Spiro Kenya, highlighted the positive reception of their electric bikes in Mombasa. The bikes, not only an alternative to rising fuel prices but also environmentally friendly with minimal maintenance requirements, have garnered substantial demand, with over 200 sold and 1,000 ready for sale.

Addressing Market Needs

Sharma emphasized Spiro’s commitment to catering to the African market by conducting extensive research and development. The electric bikes are designed to meet the specific needs of riders in Africa, providing an eco-friendly solution with minimal operational costs. The establishment of automated battery swap stations in Mombasa and plans for the same in Nairobi reflects Spiro’s forward-thinking approach to meet the anticipated surge in demand for affordable electric bikes.

Financing Options

Watu Credit and Spiro offer multiple avenues for acquiring Spiro’s electric motorcycles. For those opting for cash purchase, the initial retail price stands at Sh195,000. Customers choosing Watu to manage logbook transfers for ownership will pay Sh196,700. For credit buyers, an 8% or Sh20,000 down payment is required, with daily payments starting from Sh455.

Final Thoughts

As Watu Credit and Spiro Kenya embark on this collaborative venture, the landscape of urban mobility in Kenya stands on the brink of transformation. This partnership not only addresses the financial barriers associated with acquiring electric motorcycles but also propels the country towards a more sustainable and eco-friendly future. The fusion of financing expertise and innovative electric mobility solutions sets the stage for a revolution that goes beyond transportation, influencing environmental consciousness and economic empowerment.