Asset financing in Kenya has become a vital enabler for individuals and businesses to acquire essential assets like vehicles, machinery, and equipment without upfront capital. It operates by allowing a financier to purchase the asset on behalf of the borrower, who repays the loan in installments over an agreed period. This model is especially popular in the transport sector, where taxi drivers and fleet owners rely on financing to acquire vehicles and grow their businesses.
The Asset Financing Landscape in Kenya
Several players dominate the asset financing market in Kenya, including commercial banks, microfinance institutions, and private lenders such as Mogo Kenya and Watu Credit. While they provide much-needed financing solutions, these institutions often impose high-interest rates and stringent collateral requirements, making it challenging for ride-hail drivers to access affordable financing.
How OpenCharge Financial Services Stands Out
OpenCharge Financial Services takes a unique approach by focusing on financing electric vehicles (EVs), addressing both economic and environmental challenges. Here鈥檚 why we are different:
As we prepare to say goodbye to 2024, let us help you say goodbye to high fuel and maintenance costs as well! Contact us today and we will help you break-up with your ex-penses 馃槉!
Asset financing in Kenya has become a vital enabler for individuals and businesses to acquire essential assets like vehicles, machinery, and equipment without upfront capital. It operates by allowing a financier to purchase the asset on behalf of the borrower, who repays the loan in installments over an agreed period. This model is especially popular…
Electric vehicles (EVs) are quickly gaining traction in Kenya, but for many drivers, the concept of charging an EV is still new. Understanding how, where, and when to charge your electric vehicle is crucial to getting the most out of your EV ownership experience. This blog will cover everything Kenyan drivers need to know about…
As the world shifts towards sustainable energy solutions, electric vehicles (EVs) are becoming an increasingly attractive option for drivers. In Kenya, the high cost of petrol and the need for reliable transportation make this comparison particularly relevant. In this blog, we鈥檒l explore the cost differences between electric vehicles and petrol cars, focusing on what this…
Kenya鈥檚 ride-hailing industry has experienced rapid growth over the past few years, becoming a vital part of urban transportation. However, the rising cost of fuel and environmental concerns are pushing the industry to seek more sustainable alternatives. Electric vehicles (EVs) are emerging as a game-changer in this space, offering a solution that benefits drivers, passengers,…
Electric vehicles (EVs) are becoming increasingly popular worldwide, and Kenya is no exception. However, the high upfront cost of EVs has been a significant barrier for many potential buyers, particularly in the ride-hailing sector. OpenCharge is addressing this challenge by offering innovative financing solutions that make EV ownership accessible and affordable for all. The Challenge…
