NCBA, ePure Motion partner to drive EVs uptake in Kenya

NCBA Bank has partnered with electric mobility firm ePure Motion to roll out tailored financing solutions aimed at making electric vehicles (EVs) more affordable for individuals, public transport operators and fleet owners across Kenya.

The partnership seeks to remove one of the biggest barriers to EV adoption, which is high upfront acquisition costs, by offering structured asset financing alongside charging infrastructure and aftersales support.

Under the agreement, qualifying salaried customers purchasing ePure Motion passenger electric vehicles for private use will be eligible for up to 100 per cent financing, with repayment periods of up to 72 months, subject to credit assessment.

Public transport operators have also been targeted under the programme. Individual members of Public Service Vehicle (PSV) SACCOs purchasing 16-seater electric matatus can access financing of up to 80 per cent of the vehicle value, repayable over 48 months.

Existing PSV SACCOs and established PSV companies may qualify for up to 90 per cent financing with repayment periods extending to 60 months.

The collaboration also provides preferential financing terms, extended repayment structures, dealer support on processing costs during the campaign period, flexible insurance options for selected customers and integrated fleet financing models that can incorporate charging infrastructure where necessary.

NCBA Group director of asset finance and business solutions, Lennox Mugambi, said the partnership aligns with the bank's strategy of supporting sustainable transport through innovative financing.

"Our asset finance business has maintained market leadership with over 30 per cent market share, a position built through strong partnerships, customer-focused innovation and a deep understanding of evolving mobility needs," Mugambi said.

"By making electric vehicles more accessible for individuals, SACCOs and fleet operators, we are supporting the transformation of Kenya's transport sector while helping customers achieve long-term savings and operational efficiency."

The initiative comes as Kenya experiences rapid growth in electric mobility, driven by rising fuel costs, supportive government policies and increased investment in charging infrastructure.

According to the National Electric Mobility Policy, the number of registered electric vehicles has surged from just over 1,300 in 2022 to more than 39,000 in 2025, signalling growing consumer and commercial demand for cleaner transport alternatives.

Kenya's transition is further supported by its electricity mix, with about 90 per cent of power generated from renewable sources, making it one of Africa's cleanest electricity grids.

Meanwhile, the transport sector remains one of the country's largest carbon emitters and accounts for about 72 per cent of petroleum fuel consumption, highlighting the potential environmental and economic benefits of wider EV adoption.

ePure Motion CEO and director, Gilbert Saggia, said expanding access to financing is critical to scaling electric mobility in Kenya.

"Electric mobility will scale in Kenya when customers can access the vehicle, the financing, the charging, the service and the aftersales support as one complete ecosystem," he said.

"This partnership with NCBA helps remove one of the biggest barriers to EV adoption by making the transition more structured and more accessible for the people and businesses that move Kenya every day."

The agreement builds on NCBA's Sh2 billion electric vehicle financing programme, which aims to support the transition to clean mobility through affordable credit.

Beyond financing, ePure Motion will provide customers with an integrated package that includes charging solutions, vehicle servicing, aftersales support, fleet deployment guidance and customer education.

Eligible buyers will also receive value-added benefits such as portable chargers, battery and motor warranties, free service plans, roadside rescue support and discounted charging at ePure stations.

The partners say combining financing, vehicle supply, charging infrastructure and maintenance support will lower the total cost of ownership and accelerate the commercial adoption of electric mobility across Kenya's passenger, public transport and fleet segments.