Kenyan company Roam has signed its first ever large-scale supply agreement with fintech company M-KOPA to supply electric motorcycles across Africa.
Roam, previously known as Opibus, has signed a major supply agreement with M-KOPA which provides credit and digital financial services to underbanked consumers across Africa.
“We believe the motorcycle taxi industry is one of the most impactful areas to start, given the growing market size and importance for low income earners not only in Africa but globally. Our partnership with M-KOPA will drive us both towards our shared vision of cleaner mobility,” says Mikael Gånge, Co-Founder and Chief Commercial Officer, Roam.
The agreement will enable the credit sales of electric motorcycles, lowering the barrier to entry for customers through affordable payment plans. The partnership will enable customers to lower operational costs by over 70% and increase daily income by 50%.
Large scale adoption of electric motorcycles
David Damberger, Managing Director – M-KOPA Mobility and M-KOPA Labs says they are committed to lowering the barriers to entry and making everyday essentials accessible, especially to underbanked customers, through flexible payment plans. “This rollout will have a transformative effect on the daily incomes of business people and reduce the environmental footprint of commerce, as it continues to grow in rapidly developing markets,” explained Damberger.
Roam is planning to deliver the fleet by the end of 202, in time for mass deployment in early 2023. The fleet of Roam electric motorcycles features advancements on previous pilots, including optimisation of performance, effectiveness and a more robust design. The motorcycles can be used for personal use but are also appropriate for cargo transportation and taxi services. Additionally, they come equipped with a removable dual battery pack, lowering downtime and increasing rider flexibility.
Mikael Gånge, Co-Founder and Chief Commercial Officer, Roam called the agreement an incredible trigger for electric motorcycle adoption in emerging markets. “[It] validates our vision of releasing a locally designed product that exceeds the experience of traditional fossil fuel motorcycles for a similar price. We want to provide a compelling environmental and economic solution for markets that haven’t been part of the electric vehicle transition yet,” he explained.
Have you read?
Mass adoption of electric motorcycles to be scaled across Africa
Changing the livelihood of drivers
By combining the power of digital micropayments with the Internet-of-Things (IoT) technology, M-KOPA enables underbanked customers to access a broad range of products and services without the extra admin. M-KOPA will aid in the deployment of the motorcycles through its Pay-As-You-Go model which allows customers instant access to products while building ownership over time through flexible micro-payments.
“The partnership with Roam aligns us with a major player equally committed to Africa’s sustainable development and sees us expand our product offerings to include electric motorcycles, which is a true testament to the versatility of our fintech platform,” said Damberger.
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