Watu’s 2024 Sustainability Report Shows Growing Electric Motorcycle Financing Landscape In Africa - CleanTechnica

The article highlights the critical role of motorcycles in Africa's transport sector, particularly in East, Central, and West Africa, where approximately 30 million internal combustion engine (ICE) motorcycles serve millions daily in taxi and last-mile logistics roles. The widespread use of innovative asset financing, especially through microfinance institutions and asset fintech companies, has fueled the growth of the motorcycle taxi industry, with 80% to 90% of motorcycles in many countries being financed. This established financing ecosystem has paved the way for the emerging electric motorcycle market, which is gaining traction, exemplified by Kenya where 7% of motorcycles sold in 2024 were electric, with expectations for even higher adoption in 2025. Watu, a leading asset financing company celebrating its 10th anniversary, is a key player in this evolving landscape. Specializing in secured lending for smartphones and two- and three-wheeled vehicles, Watu operates in seven African countries and has financed over 600,000 vehicles, primarily ICE