The lender cut the down payment on selected petrol motorcycles to 27 per cent from 35 per cent for new customers, effective October 1 Bodaboda riders waiting for customers within Nairobi Central Business District /VICTOR AMADALA This as informal and platform-based work continues to expand.
The lender cut the down payment on selected petrol motorcycles to 27 per cent from 35 per cent for new customers, effective October 1. Returning customers with a previous Watu financing record will pay 24 per cent, down from 30 per cent. The new terms initially cover Boxer, TVS, Honda and Haojin motorcycles and are available through Watu branches, dealers and agents.
The reduction comes as Kenya's motorcycle market sees renewed growth. Data from the Kenya National Bureau of Statistics (KNBS) show newly registered motorcycles, autocycles and three-wheelers almost doubled to 252,241 in 2025, up from 126,490 in 2024. Motor and autocycles alone more than doubled to 241,763 units.
KNBS attributed part of the wider increase in vehicle registrations to improved access to financing. The motorcycle boom is closely tied to the importance of informal transport and the country's expanding gig economy. The 2026 Economic Survey shows that Kenya had 21.6 million people in recorded employment in 2025, with the informal sector accounting for 87.2 per cent.
The economy created 822,100 jobs during the year, underscoring the importance of self-employment and small businesses as sources of livelihoods.