Asset-backed lender Mogo Auto Limited expanded its operations to 36 counties in 2025, extending its reach among informal workers as motorcycle financing accelerated.
- •According to the company's latest environmental, social and governance report, motorcycle loans are the core of the business, with more than 42,500 customers and an average loan term of 18 months.
- •About 80% of the loans are used for income-generating purposes, linking repayment directly to daily earnings in transport and delivery services.
- •The company, which operates more than 80 branches nationwide, says that 93% of its motorcycle-financing customers are self-employed or operate at boda boda stages, while roughly 75% of its overall customers earn income through informal activities.
“Structured credit assessment, effective oversight mechanisms, and clear communication with customers will remain central across all products. As operations evolve, Mogo will continue strengthening transparency, compliance, and the resilience of its operations,” said Mogo’s Deputy Country Manager, Branton Sammy Mutea.
Mogo has doubled down on motorcycles as part of a broader shift within parent company Eleving Group, which has reduced exposure to traditional car financing in Kenya. In its unaudited March quarterly update, the group reported that revenue from flexible vehicle financing products rose 34.6% to €18.3 million (KSh 2.8 billion), driven largely by record loan issuance in Kenya’s boda boda segment.
At the same time, revenue from traditional vehicle financing products remained flat at €19.6 million (KSh 2.97 billion).
The report also shows a growing pattern of repeat borrowing. Nearly one in four customers who complete a loan return for additional financing.
On the environmental side, Mogo financed more than 240 electric motorcycles in 2025, a small share relative to its broader portfolio of conventional ones used in the boda boda sector. Operational emissions totaled about 470 metric tons of carbon dioxide equivalent, driven mainly by fuel consumption in company-operated vehicles.
Beyond transport assets, Mogo has expanded into device financing, issuing more than 100,000 smartphone loans in Kenya. At group level, device financing generated €9.0 million (KSh 1.36 billion) in revenue in the first quarter of 2026, following its rollout in Kenya and Uganda last year.
As lending volumes increased, the company introduced new asset-security systems. In 2025, it launched SAKA, a digital platform for tracking and recovering stolen vehicles and motorcycles. The platform includes a 24-hour reporting channel and has achieved a recovery rate of about 52% for theft cases reported through the system.
Mogo said it has strengthened governance and compliance frameworks alongside expansion, including enhanced onboarding processes and customer protection measures aligned with Kenyan regulations. About 39% of customers reached during onboarding reported setting aside funds for their first repayment installment at the time of loan issuance.
The company’s workforce grew to more than 1,200 employees, with women accounting for 38% of staff and 36% of management roles. No redundancies were recorded during the year.
The company says it is seeking to sustain growth by strengthening access to funding and increasing local-currency financing, as it continues to expand lending tied to income-generating assets across Kenya.
