Kigali-based electric motorcycle company Ampersand obtained funding of $3.5 million from Ecosystem Integrity Fund (EIF). This is the largest investment in electric mobility in the East African region.
“We’re thrilled to have EIF on board for this historic investment. We now have the momentum to scale our operations to electrify all of East Africa’s five million taxi motorcycles by 2030. EIF’s support further dispels the myth that electric transport will happen in rich nations first and trickle down to developing countries later, second-hand,” said Josh Whale, founder and chief executive officer (CEO) of Ampersand.
The investment will allow the startup to expand its network of electric motorcycles and additional battery stations in Rwanda. Since the commercial launch of its machines in 2019, it has built up a fleet of 35 electric motorcycles with as many drivers. Also, Ampersand plans to invest in its research and development arm and continue to expand outside of Rwanda into the East African region.
In 2018, the company announced the testing of four models of motorcycle cabs that are more environmentally friendly, less expensive, and have rechargeable batteries. Like Ampersand, another startup, Ecobodaa, which operates in Kenya, is preparing to launch electric motorcycles in the country.
Chamberline Moko
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
As the Japanese automaker faces global headwinds, it is doubling down on its operations in Egypt, ai...
Cameroon’s exports of household bar soap rose sharply in 2025, reaching 74,208 tons, up from 56,624 tons in 2024, according to the latest foreign trade...
Burkina Faso targets 6.1% growth in 2027 under plan Revenues and spending rising; deficit projected near 2.8% GDP Outlook supported by gold,...
IMF approves $266M RSF financing for Liberia climate resilience Additional $26M disbursed under ECF, total...
Axian Telecom partners with Oracle to unify management systems Platform to enable AI rollout, improve governance and...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....
CANAL+'s film arm backs a ZAR 300-million feature rooted in South Africa's anti-apartheid music movement. Production kicks off June 29 in Cape Town,...