Grace Ashiru
Roam has entered into a supply arrangement with M-KOPA, an African fintech platform that offers credit and digital financial services to underbanked people.
This is the first supply arrangement of this magnitude for electric bikes in the history of Africa. The agreement will make it possible to sell electric motorcycles on credit, thereby decreasing the barrier to entry for potential buyers by providing more manageable payment plans.
Roam plans to have the fleet delivered by the end of 2022, just in time for the mass deployment to begin in the early years of 2023. This significant achievement helps Roam reach its goal of making electric vehicles available to a larger consumer base.
The fleet of Roam electric bikes has improvements over the pilots that came before, such as better performance, greater efficiency, and a stronger design. The motorcycles are suitable not only for personal use but also for the transportation of freight and use in taxi services. In addition, they are pre-assembled with a detachable twin battery pack, reducing the time spent in downtime while also enhancing rider freedom.
TRANSFORMING THE WAY THAT DRIVERS MAKE A LIVING
M-KOPA enables underbanked customers to access a wide variety of products and services without the need to provide collateral by integrating the power of digital micropayments with the Internet of Things (IoT) technology. Through its unique ‘Pay-As-You-Go’ business model, M-KOPA will be able to contribute to the distribution of the motorcycles. It grants buyers immediate access to things while gradually establishing ownership of those products through flexible micro-payments.
The distribution of electric bikes will be streamlined thanks to our partnership with M-KOPA, which will also allow us to simultaneously offer the possibility of expanding Roam’s market reach across Africa in regions in which M-KOPA already has a presence, beginning with Kenya. Customers will be able to save their operational expenditures by more than 70 per cent. It leads to an increase in daily income by fifty per cent arise that can radically affect the drivers’ livelihoods.
This agreement is an incredible catalyst for the adoption of electric motorcycles in developing markets, and it affirms our vision of having to release a locally designed product that outperforms the expertise of traditional fossil fuel motorcycles while maintaining a price point that is comparable to those motorcycles.
We intend to deliver appealing environmental and economical solutions for markets that have not yet participated in the shift to electric vehicles. Given the expanding market size and relevance for low-income earners not only in Africa but globally, we believe that the motorcycle taxi business is one of the most influential places to begin our work.
Through our relationship with M-KOPA, we will be propelled toward realizing our joint vision of cleaner transportation. Co-Founder and Chief Commercial Officer of Roam, Mikael Grange.
Our cooperation with Roam can broaden our product options to include electric motorcycles. We will be aligned with a key company that shares our commitment to the long-term growth and prosperity of Africa, which is conclusive evidence of the adaptability of our financial technology platform.
Which is undeniable evidence of the adaptability of our financial technology platform. At M-KOPA, we are devoted to decreasing the barriers to entry and making staples for everyday life available to everyone, especially to people who do not have bank accounts, by offering flexible payment options.
This deployment will have a revolutionary impact on the day-to-day incomes of businesspeople while simultaneously reducing the environmental footprint of commercial activity. It maintains its expansion in markets that are quickly expanding.” M-KOPA Mobility and M-KOPA Labs are managed by David Damberger, the company’s Managing Director.
