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NCBA Unveils Kenya’s Most Attractive EV Financing Deal as Electric Vehicle Adoption Accelerates.
Electric vehicles are rapidly becoming a common sight on Kenyan roads, and NCBA Bank is positioning itself at the center of the country’s growing shift toward sustainable mobility. In February 2026, the bank officially launched a specialized electric vehicle (EV) loan product offering interest rates that are 2% lower than its standard vehicle financing packages, making EV ownership more accessible to Kenyan consumers and businesses.
The new financing solution is designed to support a wide range of buyers, including first-time car owners, fleet operators, and urban commuters looking to reduce fuel costs amid rising petrol prices. Industry observers say the move reflects growing confidence in Kenya’s expanding EV market and the increasing demand for affordable green transport solutions.
NCBA’s commitment to electric mobility dates back to 2022, when the bank introduced a KES 2 billion fund dedicated to EV financing. At the time, the initiative provided up to 80% financing for personal and public service electric vehicles over a five-year repayment period.
Since then, Kenya’s EV sector has experienced remarkable growth. Between 2022 and 2025, EV registrations reportedly surged by over 2,700%, with projections estimating more than 39,000 registered electric vehicles nationwide by 2025. Electric motorcycles have dominated early adoption, though private electric cars are increasingly gaining traction.
The launch of the new loan product also coincides with Kenya’s National Electric Mobility Policy introduced in February 2026, aimed at expanding charging infrastructure and encouraging investment in clean transportation. Analysts believe the policy, combined with improved financing options, could significantly accelerate EV adoption across the country.
Posted on : 05 May,2026 | News Source : ABNews
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