Bank of Kigali (BK) has announced its official partnership with PREV Rwanda in a move aimed at spearheading environmental protection efforts with a primary focus on combating air pollution.
The official launch of the green mobility partnership took place on July 21 at the bank’s premises.
During the launch, Diane Karusisi, Chief Executive Officer of BK, highlighted the significance of their long-standing partnership and emphasised their commitment to contribute to addressing the pressing issues of climate change.
"We are dedicated to being a part of the solution, just as we always have been. As a financial institution, our goal is to design and develop products that actively contribute to the transition towards green mobility. Beyond financing, we believe in changing the way we approach insurance. It seems unjust that individuals using green mobility should be charged the same insurance rates as those using fuel-based cars,” she said.
She stressed the necessity of designing all products around green mobility.
"By doing so, we can ensure the development of a strong ecosystem capable of accelerating the transition towards sustainability.”
Karusisi underlined the importance of collaborative efforts to accelerate the transition. She highlighted that moving forward, BK is actively seeking more partnerships of a similar nature, and assured that it is prepared to tackle the challenges related to climate change.
Currently, the company has been granted facilities to import cars. The bank has rented nine of the cars and is prepared to assist clients who wish to be part of the transition.
Speaking at the same occasion, the CEO of E-mobility and PREV Rwanda, Donald Kabanda, said that partnering with BK as a private sector is a success.
"Electric mobility is a new sector that has started with a lot of challenges. But the challenges are being turned into opportunities and the private sector plays a crucial role when it comes to mobilising resources for the investment. That is why we call our partnership with BK a success,” he said.
He noted that they managed to collaborate with the bank in different areas.
Juliet Kabera, Director General of Rwanda Environment Management Authority (REMA), commended the two institutions for their partnership in fighting against air pollution.
She said that studies have shown that the transport sector is the biggest polluter in urban areas.
"We have a real need and these solutions are coming in response to that need. This pollution is also contributing to the increasing number of respiratory disease cases,” she added.
Kabera underlined the country’s target and expressed confidence that through such partnerships, achieving it earlier is also possible.
Emmanuel Mugisha, a user of Green Mobility, highlighted the transformative benefits of using electric cars.
Mugisha recommended transitioning to electric vehicles, citing reasons such as cost savings and environmental impact.
Previously, Mugisha used to spend Rwf120, 000 per month on fuel. But since embracing Green Mobility, he spends only Rwf40, 000 for electricity.
Beyond the financial advantage, he emphasised the crucial role electric cars play in curbing climate change, among other benefits.
As of the latest report from PREV Rwanda, the company has over 30 electric cars available for both renting and purchase. The eco-friendly vehicles cost between Rwf25 million and Rwf45 million.