KCB and UNITAR Launch 100,000 Electric Motor Bikes Project

KCB Group CEO, Paul Russo flags off the new electric motorbikes at Ole Sereni hotel. On the bikes are, Cabinet Secretary for Roads, Transport & Public Works, Hon. Onesmus Kipchumba Murkomen (second right) and Principal Secretary State Department for Investments Promotion- Ministry of Trade, Hon. Abubakar Hassan Abubakar. This was during the KCB and UNITAR launch of 100,000 Electric Motor Bikes Project launch.

KCB has partnered with the United Nations Institute for Training and Research (UNITAR) to roll out a programme that will see 100,000 riders benefit from electric motorbikes over the next 6 years.

This is expected to create over 150,000 new green jobs in the boda-boda sector.

The Bank will provide green affordable loans to the riders to acquire electric bikes and tuktuks through local electric motorbikes sellers.

The project was commissioned by the Cabinet Secretary, Roads and Transport Hon. Kipchumba Murkomen in Nairobi and has been rolled out in Machakos county with a plan to extend it to all counties through the period.

The move is in line with KCB Group’s commitment to enhance sustainable finance, consequently accelerating the transition to a low-carbon resilient economy. Currently, the Group has set a target of transitioning 25% of its total loan portfolio to green investments by 2025, as part of its Net Zero ambition.

KCB Group CEO Paul Russo said: “The initiative is in line with our commitment to increasing our green lending loan portfolio by working with like-minded partners to enhance green job creation and attaining the net zero ambitions.”

READ ALSO: World’s First Fully Electric Courier Platform, Emergen8 Goes Live

“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 play a key role in reducing carbon emissions in the environment, which is part of our long-term plans to conserve the environment,” Russo said.

The programme is aligned to the government’s plans to roll out an electric vehicle public transport system that seeks to bring down the cost of transport for all stakeholders. This is aligned to the government’s economic transformation agenda and climate action, which is also expected to reduce the country’s carbon emissions.

Cabinet Secretary, Roads and Transport Hon. Kipchumba Murkomen said “The government has prioritized the adoption of e-mobility, to achieve a number of targets. There is a need to reduce carbon emissions by 32% by 2030. In 2022 emissions in the transport sector were estimated to be 1.26 million tonnes of carbon dioxide.”

“The adoption of electric motorbikes by boda-boda riders will help the country to achieve this target given that 1CE motorcycle emits more carbon than two saloon cars” added Murkomen.

Over 60 youth boda-boda riders drawn from across Nairobi were the first recipients of the electric boda-bodas today, following comprehensive training on electric bikes, the rule of law, customer service and mastering conflict resolution. The youth will also get training in Business Development and Entrepreneurship.

To qualify for the loan, the youth participants are obligated to undergo a mandatory training covering technical skills training, capital and business management, safety and peace building under KCB Foundation’s 2jiajiri youth programme. This is to enable them to qualify for green loans from KCB micro bankers.

The transport sector is the second highest contributor of GreenHouse Gas (GHG) emissions in the country and has been identified as a focus sector in Kenya’s enhanced National Determine Contribution (NDC) commitments and National Climate Change Action Plan.

KCB launched 2jiajiri in 2016, a programme that seeks to formalize the informal sector and skill for self-employment targeting the youth and small businesses.

It focuses on growing youth micro-businesses in the informal sector, bringing them to a place where they can employ others.

Since its inception, 20,736 youth have received skills training and the bank has disbursed over KShs. 246 million loans to the youth as capital and asset financing, which has resulted in 64,380 jobs being directly created.

A total of 3,402 small businesses are under incubation within the business development phase of the programme.

Leave a Reply

Your email address will not be published. Required fields are marked *

Next Post

Tecno Camon 20 Pro review: Is This the Ultimate Budget Smartphone?

Mon Jul 10 , 2023
Share on Facebook Tweet it Share on Reddit Pin it Share it Email After using the Tecno Camon 20 Pro for a few days, I’m pleasantly surprised by the impressive hardware and user experience it offers, especially considering its affordable price. With this device Tecno is shaping up to be […]

You May Also Like

Chief Editor

Jacktone Lawi

Meet Jacktone Lawi, a seasoned technology journalist with years of experience in the industry. I have developed my passion for technology during my formative years, which has been instrumental in shaping my career trajectory. My expertise lies in reporting on emerging technologies and their impact on businesses and consumers worldwide. Through my experience I’m well-versed in covering topics such as artificial intelligence, blockchain, cybersecurity, cloud computing, and digital transformation, among others. Throughout my career, I have has demonstrated an exceptional ability to distill complex technical information into accessible and engaging content that resonates with my readers. My writing style is clear, concise, and informative, allowing me to communicate even the most technical concepts to a broad audience. Beyond my writing skills, I have also become known for extensive network of industry contacts and ability to secure exclusive interviews with high-profile figures in the technology world. These connections have enabled me to gain unique insights into the latest trends and developments in the field, giving me a competitive edge in my reporting. In addition to my work as a journalist, I’m also actively engaged in the broader technology community. Where I regularly attend conferences and events, share insights and stays up-to-date on the latest innovations in the industry. Overall, my wealth of experience as a technology journalist have given me a deep understanding of the industry and its impact on society.

Quick Links