MojaEV, Caritas Bank ink EV taxis leasing deal

Electric mobility firm, MojaEV has entered an asset financing deal with Caritas Microfinance Bank to extended electric taxis to drivers on a lease model.

Under MojaEV Leasing Program, the two firms will lease MojaEV electric taxis to drivers to transition from daily rentals to long-term ownership, a move the firms say makes access to electric mobility both sustainable and affordable.

“This milestone represents the fulfillment of a promise to give Kenyan taxi drivers the opportunity to own their businesses 100pc while contributing to the country’s green economy,” said Achieng Anam, MojaEV’s Sales Director.

Director of Industry Gideon Oele lauded the move saying private sector innovation is crucial to achieving the government’s clean energy targets.

“This is the kind of partnership we need to make Kenya’s e-mobility vision a reality. MojaEV is showing that private innovation can complement public policy, together, we can make green transport the new normal,” he added.

The deal which saw local rivers extended six electric taxis is further backed to help bridge the gap between affordability and ownership as well as ensure sustainability.

“Our partnership with MojaEV is a reflection of this belief — giving hardworking Kenyans the chance not just to drive, but to own their future. Through affordable financing, we’re enabling more people to experience the benefits of clean, reliable, and cost-effective transport,” said Martin Kirimi, Caritas Head of Retail Banking.

MojaEV says initial pilot showed that with 20 EVs carbon emissions reduces by 155,000 tons in one year. Currently the firm has 80 MojaEV taxis  on Kenyan roads.