Kenya: Honda backs rent-to-own motorcycle rental business
Honda Trading Corporation and Skylight Consulting Inc. have made an equity investment in Unchorlight Kenya Limited (UNK), a company that operates a rent-to-own motorcycle rental business in Kenya.
Targeting sole traders who make a living as motorcycle-taxi riders and last-mile delivery riders in Kenya, Unchorlight provides motorcycles on a daily-payment model using digital payment.
Riders pay a part of their daily income from their motorcycle-taxi or delivery business as rental fees. These fees are accumulated until, after about 18 months, ownership of the motorcycle transfers to the rider.
Since Unchorlight launched this business in 2021, it has created job opportunities for around 250 riders by providing them with motorcycles.
Through its investment in Unchorlight, Honda intends to contribute to the economic growth of Kenya and the broader African continent through the advancement of mobility.