GreenMax and MojaEV Launch Groundbreaking EV Financing Pilot for Taxi Drivers in Kenya
Nairobi, Kenya | June 1, 2025 — In a groundbreaking move to accelerate clean mobility in Kenya, GreenMax Capital Group and MojaEV Africa today launched a pioneering pilot financing program that enables taxi drivers in Nairobi to lease and ultimately own brand-new Neta electric vehicles (EVs) with a 350-kilometer charging range. The initiative addresses three of the most persistent challenges facing drivers seeking to transition to EVs: prohibitively high down payments, perceived credit risk, and unaffordable daily payment rates.
Through GreenMax’s Green4Access (G4A) First Loss Facility, supported by the IKEA Foundation and CLASP, a subordinated loan of $150,000 was extended to MojaEV. This facility will provide 20% of the cost of 20 Neta EVs, with MojaEV contributing the remaining 80% from their own capital. The G4A facility includes a first-loss forgiveness feature, enabling MojaEV to extend leases to drivers who would typically be excluded from formal financing. Under this structure, drivers are no longer required to pay the 20% down payment upfront; instead, it is amortized overtime within their lease payments, and the daily lease rate has been reduced.
Priority is being given to member drivers of the Drive Electric Group SACCO, more than 20 of whom attended today’s launch—among them a group of women drivers proud to be at the forefront of Kenya’s e-mobility shift. After six months of consistent repayment, MojaEV will transfer the performing leases to a local banking partner, normalizing clean vehicle financing for drivers who were previously deemed too risky.
“It was a thrill to flag off the first procession of six Neta EVs at today’s launch,” said Clifford Aron, President of GreenMax. “This pilot is not just about cars—it’s about building pathways for inclusive finance, local bank engagement, and climate-smart livelihoods.”
The ceremony took place at MojaEV’s Nairobi showroom, where Mr. Wang Aiping, CEO of MojaEV, and Mr. Clifford Aron formally signed the partnership agreement. “This is how the green future begins — with action,” MojaEV stated in its launch announcement.
The pilot marks the first step in a broader initiative. MojaEV has already committed to importing 1,000 electric vehicles and buses over the next 12 months and plans to establish a local EV manufacturing facility in Kenya. GreenMax, through its GreenShift Africa (GSA) platform, is now exploring a follow-on working capital trade finance facility to support MojaEV’s next phase, including the rollout of electric matatus.
In a time of rising geopolitical tensions, this collaboration demonstrates the power of rapid, cross-border cooperation for climate and development. Within just three weeks, organizations from three continents—MojaEV from China, GreenMax and CLASP from the United States, and the IKEA Foundation from Europe—mobilized to deliver an impactful solution benefiting Kenyan livelihoods and reducing transport emissions.
About GreenMax Capital Group
GreenMax Capital Group is a leading fund manager and advisory firm advancing a just energy transition and climate-resilient infrastructure across Sub-Saharan Africa. Through our G4A and GSA platforms, we provide catalytic finance to local developers and financial institutions focused on e-mobility, productive-use energy, and inclusive development. We view universal energy access as the linchpin of economic progress—unlocking opportunity, improving livelihoods, and accelerating climate-positive transformation across sectors.
About MojaEV Africa
MojaEV Kenya Ltd. is a fast-growing e-mobility company accelerating the adoption of electric four-wheelers and commercial transport across Africa. Based in Kenya and backed by strategic partnerships with NETA Auto and Skyworth Auto of China, as well as Charging Stake, MojaEV is redefining clean mobility through local assembly, innovative leasing models, and inclusive financing solutions. The company is guided by the vision to “make intelligent EVs for all.”
Media Contact
Emily Lundberg
Communications Manager
GreenMax Capital Group
elundberg@greenmaxcap.com