Swiss-Kenyan startup secures loan to scale e-mobility in Africa

Motorcycles, also known as Boda Bodas, are the fastest, most reliable and most convenient means of transport in many African countries, especially in urban areas. With motorcycles proliferating, cities struggle with congestion, chaos and pollution. The rising fuel prices are also crippling the market. Kenya alone has over two million petrol-fueled motorbikes that could transition to e-mobility to address the demand for smarter and sustainable transport means.

“Kenya has a top-notch infrastructure. However, the market demand for sustainable transportation options far exceeds the supply. There is an urgent need to adopt new technologies and innovative business models to fight climate change and address the challenges of the last mile of transportation”, says Celeste Vogel, Co-founder, Chief Executive Officer & General Counsel of eWAKA.

To respond to Africa’s increasing urban transportation challenges, eWAKA, a global company with headquarters in Switzerland, developed a platform that combines hardware, software, and servicing to facilitate electric commuter and commercial micro-mobility fleets in the urban last mine. The platform thus contributes to increased productivity and customer utility. Launched in March 2022, the company now has a fleet of over 200 vehicles across all models, including eScooters, e-Mopeds & e-Motorbikes and delivery e-Bikes. Based on the feedback from the initial pilot phase, the company plans to expand local production capabilities and enter new markets across East Africa. “Our objective is to have a full product line for multiple customer segments offering flexible rental options and purchase plans”, explains Celeste.

Fresh funds to scale e-mobility in Kenya and beyond
The State Secretariat for Economic Affairs (SECO) Startup Fund (SSF)has offered eWaka a CHF 500,000 loan to support the company’s growth strategy. This year, eWaka plans to increase the local production and promotion of its signature electronic bike Shujaa for deliveries in Kenya. Besides being easy to use (no need for a driver’s license), the Shujaa is less expensive and easy maintenance. A key element of eWAKA’s growth plans is to secure additional financing options for independent delivery drivers.

The SECO SSF loan is conferred to startup projects of Swiss entrepreneurs or enterprises in emerging economies. The loan is thus only not open to any category of startups. eWAKA went through a robust multi-staged selection process and presented a strong business case to the SECO committee. “We are pleased to offer eWAKA a loan for executing their business model in Kenya. We welcome the contribution to local production in the e-vehicle space, and we hope that eWAKA will set a successful example for efficient, climate-friendly traffic systems in African cities that meet the mobility needs of the continent”, said Susanne Grossmann, the manager of SECO Startup Fund.

(RAN)