More financing options have been credited with the surge in the ownership of motorcycle taxis, commonly known as boda boda.
Players in the industry say operators are also embracing electric motorcycles, which are gaining popularity due to their cost-effectiveness compared to those that use fuel.
According to non-bank finance company Watu Credit, 10 years ago, only 10 per cent of motorcycle riders owned the motorcycles they rode.
Today, many riders are the actual owners, many of them courtesy of financing arrangements with companies such as Watu.
“So roughly one out of ten were owners of the asset. And nine who were not owners did not have any means to own that asset. They rented from other people,” says Watu Credit Kenya Country Manager Erick Massawe.
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