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A first-of-its-kind offering, Bboxx Protect, offers extensive protection to electric motorbike users and significant savings of over 40%.
The electric motorcycle sector in East Africa is starting to flourish. Kenya is the largest market for motorcycles, with over 2 million internal combustion motorcycles on the road, and we are now seeing some significant traction in the market. As recently reported, “In 2023, there were 70,691 motorcycles sold in Kenya. 2,557 of these were electric. That means 3.6% of motorcycles sold in 2023 in Kenya were electric. That is almost 4%! Soon the market share will reach the critical 5% threshold, which is generally viewed as the tipping point indicating the start of mass adoption. The share of electric motorcycles rose to 3.6% in 2023 from 2.8% in 2022 and 0.5% in 2021.”
We have another exciting update today. This time from Rwanda! There are now over 6,050 electric motorcycles in Rwanda. Ampersand leads the way with over 3,850 motorcycles in Rwanda, Spiro now has over 1,800 in Rwanda, and they are followed by REM, SAFI, and Amazi. There are around 150,000 motorcycles in Rwanda’s entire fleet of motorcycles, meaning that 4% of all the motorcycles in Rwanda are now electric, and it’s about to get even better!
From January 1, 2025, only electric motorcycles can be registered in Rwanda. No more new registrations of internal combustion engine motorcycles will be allowed in the country. To help catalyse adoption of electric motorcycles and encourage riders to switch from their old fossil-fueled motorcycles to newer electric motorcycles, Bboxx, the data-driven super platform, is introducing a transformative insurance product, Bboxx Protect, offering comprehensive and affordable coverage for electric motorbike riders in Rwanda.
Bboxx Protect, Bboxx’s first insurance product, is set to transform the Rwandan insurance landscape by providing financial security previously out of reach for many motorbike users. Created in collaboration with Radiant Yacu, its unique data-backed PAYGo (pay-as-you-go) model enables pricing over 40% lower than the average market rate for comprehensive insurance, making it an affordable option for motorbike owners who typically rely only on third-party coverage. Bboxx says this innovation saves riders up to 44% on insurance costs per year, allowing them to invest in other essential aspects of their lives, such as household welfare and family support.
Bboxx says the new Bboxx Protect marks a crucial step in addressing Rwanda’s low insurance penetration, which currently stands at less than 1%, by making insurance both accessible and affordable for more people. Designed exclusively for electric motorcycles, the product provides a further incentive for riders to switch from traditional internal combustion engine (ICE) bikes, de-risking the EV transition.
Anthony Osijo, Bboxx CEO, said: “With the launch of Bboxx Protect, we are doubling down on our commitment to serving existing markets while making affordable, comprehensive insurance accessible to motorbike riders who have long been underserved. By reducing financial risk and offering greater security, we are empowering thousands of customers to protect their livelihoods while contributing to a cleaner, more sustainable future.”
Ovia K. Tuhairwe, Radiant Yacu Insurance CEO, said: “Through our strategic partnership with Bboxx, we are introducing a pioneering insurance solution that equips motorbike riders with the financial protection needed to confidently transition to electric vehicles. By offering affordable, comprehensive coverage tailored to EVs, we are not only enabling a safer and greener future, but also addressing Rwanda’s low insurance penetration. This collaboration will make insurance more accessible to underserved communities, promoting financial inclusion and driving long-term economic growth across the country.”
Bboxx Protect offers exclusive coverage for Bboxx Ride customers, including protection against material damage, fire, third-party liabilities, life insurance, and total permanent disability. The initial rollout targets 1,500 customers, with the potential to impact the 150,000 motorbike riders across the country who currently use simple third-party insurance coverage.
Alongside this innovative new product, Bboxx is pioneering a new benchmark for the EV and insurance sectors by leveraging smart data monitoring and Bboxx Protect to predict and prevent road accidents. This technology reduces the likelihood of accidents, providing riders with a safer, more reliable experience. Mitigating risks through real-time insights also presents a significant advantage for insurers given the improved risk management.
As the market share of electric motorcycles starts to grow in East Africa, it is great to see EV-focused products being introduced such as this new Bboxx Protect. 2024 appears to be the year that electric motorcycle firms in East Africa really started to scale. These companies are setting up to ramp up production again in 2025. It looks like 2025 is going to be even better.
Images courtesy of Bboxx
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