Equity Bank and Proto Energy partner for Autogas conversion loans

Equity Bank and Proto Energy have partnered to launch financing solutions aimed at increasing the adoption of Autogas in Kenya. The initiative seeks to double the number of Autogas-converted vehicles to 40,000.

Through the Autogas Conversion Loan, motorists, taxi operators, and public service vehicle owners can access credit to cover the upfront costs of converting petrol or diesel engines to dual-fuel systems. Loans are available for up to Sh200,000 with an interest rate of 16.6 percent and a 30-day grace period. This move responds to rising fuel prices, as Autogas in Nairobi averages approximately Sh100 per litre, significantly lower than petrol and diesel.

In addition to individual motorists, the partnership includes an Institutional LPG Conversion Loan. This facility targets schools, colleges, and universities to help them finance LPG infrastructure, equipment, and installation to transition to more efficient energy solutions.