eBee Kenya and Fortune Credit sign electric bikes financing deal

Customers can now buy electric bicycles from eBee Kenya with loans from Fortune Credit Ltd after the two companies signed a financing agreement.

eBee said that customers will be offered flexible payment plans that will enable them to pay in installments.

The EV firm added that the financing deal will not only promote e-mobility but also empower job creation and support local businesses through affordable access to electric bicycles.

“We’re excited to announce eBee Kenya’s partnership with Fortune Credit Ltd. This partnership is a step forward in expanding our financing options and making sustainable mobility even more accessible to more people,” said eBee.

eBee is a pan-African e-mobility company that was founded in late 2021 in Kenya by Jaap Maljers, Isidoor Maljers, Joost Boeles and Sten van der Ham.

It has since expanded across the region and now has electric bicycles in Kenya, Uganda and Rwanda.

The company operates with three business models: sales, full service delivery and rental of electric bicycles.

eBee says that it’s e-bicycles have zero fuel costs and are 2-3 times cheaper than e-motorbikes.

They also outperform regular motorbikes on efficiency, transport costs and maintenance, it said.

Unlike electric motorcycles, e-bikes can be charged using a regular power socket at home or on the go, and ride for up to 90km on a single charge.

E-mobility is rapidly taking off in Kenya, boosted by a number of government incentives that have helped lower their costs.

However, electric vehicles, motorcycles and bicycles remain more expensive compared to their fossil fuel powered counterparts, slowing down the e-mobility transition.

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