• $5m financing supports expansion of battery-swapping network in Addis Ababa

• Dodai plans 30,000 users and 1,000 stations within three years

• Investment aligns with push toward frontier markets and climate finance

British International Investment (BII) has committed $5 million in debt financing to Ethiopian electric mobility firm Dodai, as part of a $13 million Series A round announced in a press release on April 28, 2026.

Dodai assembles electric motorbikes and operates battery-swapping infrastructure in Addis Ababa. Since its launch three years ago, the company has deployed more than 2,000 electric motorbikes and employs around 100 people, most of them Ethiopian. The new funding will support the expansion of its infrastructure in the capital, with a focus on increasing access to low-cost transport solutions in high-demand segments such as delivery services and informal transport.

The company plans to reach 3,000 battery-swapping users and deploy 30 stations in Addis Ababa within the next 12 months. Over a three-year horizon, it targets 30,000 users and 1,000 stations, alongside expansion into other African cities including Abidjan, Kinshasa, Accra and Dar es Salaam.

Dodai’s model allows riders to exchange depleted batteries for charged ones, reducing downtime and limiting dependence on conventional charging infrastructure, particularly in a context of constrained power supply and charging access.

The investment comes as Ethiopia explores options to reduce reliance on fossil fuel-based transport, with electric mobility positioned as an alternative in urban areas, especially for short-distance, high-frequency use.

According to BII, the financing is expected to support the development of a commercial market for electric motorbikes while contributing to job creation and improved access to transport services. The transaction was supported by the Africa Resilience Investment Accelerator (ARIA), a platform co-funded by BII, FMO and Proparco that provides market intelligence and operational support for investments in frontier markets.

The deal aligns with BII’s 2026–2031 strategy, which allocates at least 25% of new investments to frontier markets and 40% to climate finance. BII currently holds investments in more than 1,600 businesses across 66 countries, with total net assets valued at £9.87 billion, and is a founding member of the 2X Challenge, a global initiative that has mobilized over $33.6 billion for women’s economic empowerment.

The announcement comes as Ethiopia increases its focus on climate-related investments, including in the transport sector, ahead of its expected hosting of COP32.

By Cynthia Ebot Takang