Dutch development bank FMO is preparing a $30 million senior-debt financing package for M-KOPA Kenya Mobility, the electric-mobility subsidiary of African fintech company M-KOPA. The proposed financing is designed to expand access to electric motorcycles in Kenya while supporting the company’s growing pay-as-you-go financing portfolio.
The package is structured through three components. FMO will provide two direct loans totalling $22.5 million, alongside a further $7.5 million commitment under its Building Prospects programme. Part of the financing will refinance a bridge facility previously provided by an M-KOPA shareholder. Up to $23 million is expected to support new electric-motorbike and battery financing receivables.
M-KOPA Kenya Mobility was established in 2023 to sell and finance electric motorcycles and batteries for customers in Kenya. Its portfolio includes electric bikes from manufacturers such as Roam, Ampersand and Spiro, as well as fleet-financing solutions for transport platforms.
The company uses M-KOPA’s established pay-as-you-go financing model to make electric motorcycles more accessible to customers who may struggle to obtain conventional vehicle loans. Instead of paying the full cost upfront, riders can make daily instalment payments that fit more closely with their income patterns.
The model is particularly relevant to Kenya’s large motorcycle-taxi sector. Boda-boda riders depend heavily on motorcycles for their livelihoods, but fuel, maintenance and financing costs can put pressure on their earnings. Electric motorcycles offer the potential to reduce operating costs while also lowering emissions.
M-KOPA said in 2025 that it had already financed more than 5,000 electric motorcycles in Kenya, highlighting the demand for affordable financing alongside the vehicles themselves.
FMO’s proposed investment also addresses a broader financing gap in Kenya’s clean-mobility sector. According to FMO, limited access to local-currency debt has been a bottleneck for the growth of electric mobility, while micro-entrepreneurs often lack access to financial products needed to make the transition.
The financing is expected to carry both green and inclusion-focused objectives, with FMO indicating that the transaction is expected to receive 100% Green and 100% Reduced Inequalities labels.
For M-KOPA, the facility could provide the balance-sheet capacity needed to finance more riders and expand its electric-mobility operations. For Kenya, increased availability of financed electric motorcycles could help accelerate the transition away from petrol-powered transport.
As electric mobility gains momentum across Africa, financing will remain just as important as vehicle technology. M-KOPA’s combination of digital finance and clean transportation positions the company to play a significant role in making electric motorcycles more affordable for Kenya’s everyday earners.
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