ROAM announces the price tag and the availability of its subdivision ROAM Air electric motorcycle which is equivalent to KES 180,000 per its homegrown money market valuation. ROAM Air revealed that the Kenyan population and customers in its existing market will access its EM product at an affordable price. The purchase offers ROAM Air tag its EMs also come with an installment payment plan that allows customers to purchase the ROAM Air EMs per preferred payment plan.
ROAM’s announcement revealed its subsidiary EV company signed a Memorandum of Understanding (MoU) with M-KOPA to grant credit facilities to potential customers – both M-KOPA and ROAM Air are homegrown Kenyan technology companies. M-KOPA credit infrastructure is signed to push ROAM Air’s EMs to gain the limelight across the African transportation ecosystem. The MoU between the Kenyan fintech and the electric motorcycle manufacturer is intended to leverage technology adoption in their host country likewise scheming expansion penetration across Africa.
The M-KOPA and ROAM Air’s MoU will drive both financial and technology inclusion in its homegrown economy and continue across the continent.
ROAM’s Co-Founder and Chief Commercial Officer, Mikael Gånge statement started by reminiscing about the completion of its EM project that was supposed to have been accomplished during the Opibus Tenure as the brand moniker. Gånge also referenced that the MoU with M-KOPA was ideal to endorse local adoption of ROAM Air’s EM before expanding across Africa. ROAM’s co-founder also noted the sole objective to rival the use of fossil fuels with renewable which is an ideal innovative scheme by the Kenyans.
“We want to provide a compelling environmental and economic solution for markets that haven’t been part of the electric vehicle transition yet.” Mikael Gånge said that he “believes the motorcycle taxi industry is one of the most impactful areas to start, given the growing market size and importance for low-income earners not only in Africa but globally. Our partnership with M-KOPA will drive us both towards our shared vision of cleaner mobility,”
Both ROAM and M-KOPA are keen on being significant technology service providers in Africa – a spot that could have been filled by foreign investors, yet Africans thrive. M-KOPA’s managing director David Damberger also revealed his company’s intent to eradicate the barriers in Africa that hinder fintech inclusion, including both fintech as a service and financial inclusion itself. While ROAM Air intends to innovate the transportation system M-KOPA is keen on serving the unbanked and the underbanked population of Africa.
“This rollout will have a transformative effect on the daily incomes of businesspeople and reduce the environmental footprint of commerce, as it continues to grow in rapidly developing markets,” Damberger said.
Digital inclusion in Africa has heightened since the pandemic era. Still, more innovative business deals never seize to end in Africa and beyond the continent. ROAM’s EV product pioneers the application of IoT as a service in Africa and some countries like Nigeria, Kenya, and their respective regulatory systems have consented to draft suitable policies for IoT application in the money market.