Watu Financed 2,000 EVs and 1.4M Smartphones in 2024
Watu’s 2024 Sustainability Report shows progress in financing 2,000 EVs, 1.4M smartphones, and 80,000 mobility assets..
✨ Key Highlights
Watu has released its 2024 Sustainability Report, showcasing significant progress in financial inclusion, clean mobility, and gender equity across Africa. The report details key achievements and commitments under its Environmental, Social, and Governance (ESG) initiatives.
- Watu financed over 2,000 electric vehicles and 1.4 million smartphones in 2024, impacting over 8 million people.
- Andris Kaneps, CEO of Watu, emphasized that sustainability is central to the company's responsible impact.
- Women now comprise 38% of Watu's customers and hold at least one in three management positions, with female employment surpassing the 43% target across all markets.
- Over 20,000 riders and staff received road safety training in Kenya, Uganda, and Tanzania.
- Watu secured Bronze-level Client Protection Certification from MicroFinanza Rating (MFR) in Kenya, Uganda, and Tanzania, adopting global standards for responsible financing.
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Firms Expand EV and Smartphone Financing for Underserved Africans - September 2025
M-KOPA, a fintech firm using pay-as-you-go financing, has surpassed 3 million active daily customers and deployed over $2 billion in credit to micro-entrepreneurs and gig workers across Africa. In its 2024 Sustainability Report, Watu announced it had financed 2,000 EVs and 1.4 million smartphones as part of its ESG initiatives. Meanwhile, Kenya's ARC Ride has secured a $10 million debt financing commitment from Mirova, an affiliate of Natixis Investment Managers. This funding is designated to deploy 600 battery-swapping cabinets and 25,000 batteries, significantly boosting Kenya's electric vehicle infrastructure.
