Proto Energy and Equity Bank have partnered to expand access to financing for customers seeking to adopt LPG solutions, with the partnership introducing two targeted financing products: an Autogas Conversion Loan and an Institutional LPG Conversion Loan.
The partnership is designed to address one of the key barriers to LPG adoption: the upfront cost of investing in the required infrastructure, equipment and conversion services.
The Autogas Conversion Loan will enable motorists, taxi and ride-hailing operators, public service vehicles, SMEs and corporate fleets to access financing to convert eligible vehicles to dual-fuel Autogas systems.
Through OTOGAS, Proto Energy will provide the technical expertise and conversion solutions, while Equity Bank will provide the financing to make the transition more affordable and accessible to vehicle owners.
With approximately 20,000 vehicles already converted to Autogas in Kenya by the end of 2024, the partnership seeks to accelerate the adoption of Autogas as a reliable and more efficient transport energy solution.
The Institutional LPG Conversion Loan will support schools, colleges, universities and other eligible institutions seeking to transition to or expand their use of LPG.
The financing will support investment in LPG infrastructure, equipment, installation and related solutions, helping institutions overcome the significant upfront costs associated with transitioning to LPG.
Commenting on the partnership, Proto Energy Managing Director, Joel Kamau, said the partnership strengthens the company’s ability to provide customers with an end-to-end pathway to LPG adoption.
“Our partnership with Equity Bank addresses a critical barrier to LPG adoption by making financing more accessible. Whether it is a motorist converting to Autogas or an institution transitioning to LPG, customers can now access financing alongside the technical expertise, infrastructure and reliable supply required to make that transition successfully. Our ambition is clear: to double the number of Autogas-converted vehicles to 40,000.”
Moses Nyabanda, Managing Director, Equity Bank, said the collaboration will help customers access financing solutions that make the transition to LPG more manageable.
“Financing can play an important role in helping customers overcome the upfront costs associated with adopting LPG. Through our partnership with Proto Energy, we are enabling motorists and institutions to access financing for LPG solutions while supporting the transition to cleaner and more efficient energy.”
Under the partnership, Equity Bank will provide the financing solutions while Proto Energy will provide the technical expertise, LPG infrastructure and supply solutions required to support customers. The two organisations will also explore opportunities to expand innovative financing and LPG solutions in the market.
The partnership reinforces both organisations’ commitment to accelerating LPG adoption in Kenya by combining access to finance with access to reliable LPG infrastructure, technical expertise and supply.
