In a matter of a few years, climate change has become a reality for a majority of us having witnessed the recent floods that ravaged the country. Climate change has generally been brought about by rising average surface temperatures of the earth largely brought about by burning fossil fuels. Reducing our reliance on fossil fuels has been identified as a key means of combating climate change. As a response to this NCBA Bank through their Change the Story initiative have embarked on promoting the adoption of electric vehicles through offering financing for the same.
The thing is that burning of fossil fuels such as petrol and diesel leads to the release of greenhouse gases such as carbon dioxide. Over time, production of these gases has negatively impacted the ozone layer leading to rising temperatures.
One of the effects of climate change which has really affected us as a country is the fact that weather has now become unpredictable. The unexpected weather patterns such as the heavy rains we witnessed this year can make it difficult to maintain and grow crops. More so in regions that rely on farming because expected temperature and rainfall levels can no longer be relied on. Overtime, this will have a devastating effect on our food security.
This is why it is important for people across the world to adopt electric vehicles. This is because rather than burn fuel, they utilize batteries to power the car which is not only efficient but also environmentally friendly.
Advances in the electric vehicle battery technology has meant that the cars can travel for longer on a single charge. This means that when driving these vehicles you don’t have to worry about running out of charge in the middle of nowhere. So, far the car with the biggest range is the Tesla Model S Plaid+ which has a range of approximately 837km on a single charge. This means that you can travel all the way from Nairobi to Mombasa and up to Makueni on a single charge. Whereas if it was a petrol car, one would have had to fuel in Mombasa for the drive back to Nairobi. So, in the long run electric vehicles are cheaper to run and maintain more so due to the high fuel prices.
Last year, NCBA made history by being the first bank in Kenya to provide financing for electric vehicles. Towards this, they set up a Ksh. 2 Billion fund to finance the purchase of 5,000 electric vehicles. So far, they have partnered with the likes of Kenya Power who are leading from the front by adding electric vehicles to their fleet.
NCBA Bank is also adding electric vehicles to their fleet even as they educate the public about the benefits of electric vehicles. As part of the outreach, they showcased Evs during the NCBA Motor Show where they provided information in a bid to raise awareness as well as dispel myths.
Other than providing financing for EVs, they are also deploying electric vehicle charging stations across the region in a bid to encourage adoption. So far, they have installed a total of four EV chargers, that is three at their headquarters (NCBA Center, NCBA House) in Nairobi and one at their headquarters in Kigali, Rwanda. They are also conducting research and analysis to identify optimal locations for EV charging stations based on factors such as population density, traffic patterns, and existing infrastructure.