As part of its eco-friendly approach, the Commercial Bank of Kenya (KCB) will dedicate 25% of its loans to green investments. In this context, the financial company recently partnered with the United Nations Institute for Training and Research (UNITAR) to launch the “E-mobility” program, which aims to accelerate green mobility in Kenya.
Concretely, the initiative includes “a test of acceptance by members of our project, the establishment of a loan system for drivers of Boda Boda (bicycles and motorcycle cabs specific to East Africa), and vocational training through the digital platforms 2Jiajiri, SACCO and various government departments to support the transition to clean energy,” explains Paul Russo, CEO of KCB.
Green Mobility for the SDGs
KCB and Unitar’s E-mobility program will ultimately create jobs and reduce carbon dioxide (CO2) emissions in Kenya’s transportation sector. At a total cost of 38.7 million Kenyan shillings (about $320,000), the pilot phase will benefit 150 motorcyclists in Nairobi, Kajiado and Machakos counties.
“This initiative will promote electric mobility while contributing to the achievement of several Sustainable Development Goals (SDGs) by 2030,” says Pius Masinde, the head of Ethics and Discipline at the UN. These include SDGs 5, 7 and 13 on gender equality, clean energy development and enhanced climate action, respectively.
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At the same time, KCB entered into a partnership with Nairobi-based start-up BasiGo in early October 2022 to pre-finance the purchase of its electric buses. The partnership will also allow customers of both companies to access financing for transport-related insurance.
Benoit-Ivan Wansi