Watu Secures Ksh 906M Funding to Expand Financing Across Africa

Watu has secured a Ksh 906 million strategic debt facility from AHL Venture Partners to strengthen its working capital and expand motorcycle, three-wheeler, electric motorcycle and smartphone financing across Africa.

AHL Venture Partners, an investment firm that provides capital to businesses in emerging markets, said the facility will support Watu’s continued portfolio growth in some of its African markets as the asset financier expands its mobility and connectivity businesses.

Watu offers motorcycle and three-wheeler financing through its mobility business, while smartphones are handled through Watu Simu, its connectivity arm. Electric motorcycles have also joined the company’s financing portfolio in selected African markets.

Watu Expands Mobility and Smartphone Financing

Watu has built its business around financing assets that support mobility, income generation, and connectivity, using streamlined onboarding and flexible repayment structures across its markets.

Founded in 2015, the company has originated more than seven million loans, reflecting the scale of its financing operations since entering the market.

AHL’s latest facility builds on a funding relationship with Watu that began in 2022, with the investment providing additional working capital for expansion.

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Car & General holds a 29% stake in Watu, giving the Kenyan automotive and equipment business an ownership interest in the asset financier as it expands its operations beyond its traditional motorcycle-financing base.

Watu is also growing its electric motorcycle financing in selected African markets, adding another segment to its mobility portfolio as it expands beyond conventional two-wheelers.

AHL Deepens Partnership with Watu

AHL Venture Partners CEO Rosanne Whalley said the latest investment would support Watu’s expansion while advancing access to mobility and connectivity assets.

“We are delighted to deepen our partnership with Watu and support its continued growth across Africa. Watu’s asset-backed model is expanding financial inclusion and clean mobility for millions of underserved customers, generating exactly the kind of measurable social and economic impact that sits at the heart of AHL’s priorities,” said the CEO.

Watu founder Andris Kaneps said the funding would strengthen the company’s working-capital position and provide additional capacity for its financing portfolios.

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“AHL has been an important funding partner as Watu has grown across Africa. This facility strengthens our working-capital base and gives us additional capacity to expand our mobility and smartphone-financing portfolios while continuing to serve our customers consistently and responsibly.”

Watu’s latest funding therefore adds fresh capital to its existing financing operations as the company continues developing its motorcycle, three-wheeler, electric motorcycle and smartphone portfolios across African markets.

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Watu bike, three-wheeler and phones. PHOTO/WATU