With the increase in demand and supply for means of affordable mobility and financial solutions, MOGO, East Africa’s leading mobility asset financier, has invested heavily in meeting this demand.
In its efforts to bring flexible financing and transport solutions closer to thousands of Kenyans, Mogo has launched 22 new branches across 16 counties, increasing the total number of branches they are operating in Kenya to 49.
The newly opened branches are in Kakamega, Mombasa, Siaya, Bungoma, Busia, Migori, Homa Bay, Makueni, Narok, Machakos, Garissa, Trans Nzoia, Nyeri, Taita Taveta, Naivasha, and Laikipia.
MOGO said the recent expansion of their operation areas is aimed at providing comprehensive services in asset financing for cars, boda bodas, tuk-tuks, and logbook loans in underserved and high-demand areas, particularly in Western, Northern and Coastal Kenya. The company stated that it has tailored its services to achieve financial inclusion and sustainable mobility, playing a key role in Kenya’s transition to green transportation.
Branton Mutea, the Deputy Country Manager at MOGO Kenya, said the new branches are designed to cater to a wide range of customer needs, from helping individuals acquire their first motorcycle to offering quick and convenient financing solutions for business growth.
“Our presence in these areas will make it easier for customers to access financing for motorcycles, cars, and logbook loans where they live and work,” Branton added.
MOGO Kenya, which is part of Eleving Group, indicated that it has taken deliberate steps to offer customer-friendly support, including quick responses to customer queries and complaints and deploying staff who understand local dialects to better serve illiterate or semi-illiterate customers.
Mogo, a non-banking lender, is driving a financial progression shift by providing flexible financing options with daily or weekly repayments that align with the riders’ cash flow.
A recent report by research firm Viffa Consult titled ‘The New Boda Boda Boom: Thriving Societies, Growing Economies, and Powering Green Transition’ revealed that riders using asset-financed motorcycles earn an average of KES 1,100 per day, equating to approximately KES 26,400 monthly or KES 316,000 annually. This differs from riders who lease motorcycles, often paying at least KES 300 daily, with no clear path to motorbike ownership.
The report also reveals that over five years, riders who use asset financing save more than KES 440,000 compared to those who rent them. While rental costs can reach up to KES 780,000, the asset financing costs total KES 339,688.
Follow or like our social media accounts for more informative stories:
Facebook: https://www.facebook.com/UpeoHubDigital
Twitter: https://twitter.com/upeohubnews
LinkedIn: https://linkedin.com/UpeoHubDigital
Instagram: https://www.instagram.com/upeohubdigital
Would you like us to feature your story/opinion? You can contact us through the following:
Cell: +254 759 896907
Email: news@upeohubdigital.co.ke
For corporate engagements, you can reach out to us via info@upeohubdigital.co.ke
For marketing engagements, email us via marketing@upeohubdigital.co.ke
