KCB Foundation and the United Nations Institute for Training and Research (UNITAR) have partnered to promote the use of electric motorbikes by Boda Boda riders in Kenya.
This new initiative is part of the Net Zero programme that will see the bank transition to investing 25% of its loan book to green investments by 2025.
The programme involves:
- A user acceptance test
- Establishment of a lending scheme for Boda Boda riders
- Providing skills training through 2Jiajiri, SACCOs, Associations, motorcycle dealers, and various government departments to support the transition to clean energy.
The pilot phase will kick off in Nairobi, Kajiado and Machakos counties. 150 Boda Boda riders onboarded into the programme at a cost of Ksh. 38.7 million. The programme will be funded by both KCB Foundation and UNITAR.
Speaking at the event, KCB CEO Paul Russo noted that the partnership with UNITAR is part of the multi-pronged approach by the Bank to work with like-minded partners to support poverty alleviation and job creation efforts in line with the sustainable development needs.
“Through the E-Mobility programme with UNITAR, we seek to make it possible for players in the transport sector to acquire electric motorbikes at an affordable rate and earn a living. At the same time, the Boda Boda riders will be playing a key role in supporting low carbon emissions in the environment. This is a cause we are ready and willing to support as part of our long-term plans to conserve the environment,” Russo said.
KCB recently announced a partnership with BasiGo Ltd that will see customers access financing to buy electric buses. KCB customers will be able to access financing to buy BasiGo electric buses.
KCB Foundation was established in 2007 to implement KCB Bank Group’s corporate social investments. The Foundation’s programmes are designed to address issues within the thematic areas of: enterprise development, education, health, environment and humanitarian intervention.