Logistics

Capital raised from the Series A round has been used to ramp up electric motorcycle and battery production, expand the company’s swap station network, and continue R&D on battery technology and software. (Image source: Ampersand)

Ampersand, a leading EV energy tech company, has revealed total raised equity of US$21.5mn over the last 12 months

New investments from AHL Venture Partners and Everstrong Capital has bolstered the company’s total haul, alongside Beyond Capital Ventures reinvesting in a follow-up to its Series A equity commitment.

“This latest funding is a testament to the strong investor confidence in our business model as we continue to scale and innovate within the African e-mobility sector,” remarked Josh Whale, CEO of Ampersand. “With continued urbanisation, our mission to electrify transport, cut carbon emissions and drive clean economic prosperity is more crucial than ever.

The investments have been made ahead of the company’s Series B round and have been earmarked to support the expansion into East Africa.

“This additional investment will accelerate the rollout of our EV energy technology and infrastructure to the mass market, bringing us closer to our goal of deploying five million electric motorcycles by 2033,” Whale added. “As we look ahead to our upcoming Series B, we remain committed to reshaping how Africa moves by delivering affordable, low-carbon transport solutions that also drive green jobs and economic growth across the continent.”

E-mobility in the spotlight

Eva Yazhari, managing partner, Beyond Capital Ventures, commented, “Ampersand’s comprehensive approach to e-mobility in Africa exemplifies exactly the type of highly scalable solution Beyond Capital Ventures seeks to invest in. Among the e-mobility companies we evaluated, Ampersand stood out for its robust technology, strong market traction, and clear vision for transforming transportation networks across the continent. We view Ampersand as a climate and infrastructure play and by backing Ampersand, BCV's primary goal is to contribute to increased economic development and the growth of capital markets in the region.”

Ampersand’s heavy-duty commercial motorcycle fleet already covers 3,000,000 km a week in Kigali and Nairobi, according to the company. Its AI-enabled smart battery technology allows drivers to exchange batteries within minutes at the nearest ‘swap-station.

“We chose to be part of Ampersand’s growth capital because we found that commercial boda boda riders wanted Ampersand’s bikes for their strength, design and battery swapping convenience – not to mention that Ampersand is an early entrant to the electric motorcycle markets in Rwanda and Kenya,” surmised Phil Dyk, founder and managing partner at Everstrong Capital.

Ampersand is not the only e-mobility that has recognised the opportunity presented by the East African market as Spiro has recently officially launched operations in Uganda. Click here to find out more.

The port will be connected to a network of additional infrastructure, including a free zone and multimodal logistics infrastructure. (Image source: Adobe Stock)

British International Investment (BII), a development finance institution and impact investor, has announced its intention to invest up to US$35mn for the development of a new container port in the DRC

The new deepwater container port, the Port of Banana, will be the first of its kind in the country and will enhance the country’s access to international markets. It is hoped that, with the timely delivery of the project, the DRC will be able to unlock its vast trading potential, for the benefit of millions of its citizens.

“This investment from BII will help transform DRC’s economy, establishing the country as a major trading hub on the continent, and providing a significant boost to local sectors from infrastructure, logistics and green energy,” remarked the UK Minister for Africa, Lord Collins of Highbury. “Today’s announcement is a brilliant example of the UK-DRC partnership in action, working together to increase trade opportunities and drive sustainable economic growth that creates full and productive employment for many.”

BII’s commitment to the DRC port is an extension of the partnership between the organisation and DP World, a global port and logistics operator. This cooperation has seen the two companies support the modernisation and expansion of ports in Senegal, Egypt and Somaliland. Under the new agreement, the BII funding will be provided for the development of the first phase of the Port of Banana. This will be the first of multiple development stages that will gradually increase capacity over time.

Plugging DRC into the international market

The new port in the DRC will boast a draft of 17.5 m, allowing it to receive large container vessels from around the globe. According to BII, it will become a single gateway for imports and exports of containers in the country and is expected to cut the cost of trade in the country by 12%, generating around US$1.12bn in additional trade. Moreover, in another booster for the economy, around 85,000 jobs will be developed during development.

“The development impact case for investing in ports is irrefutable. Africa has a sixth of the world’s population, but accounts for just 4% of global containerised shipping volumes,” commented Chris Chijiutomi, managing director and head of Africa for BII. “Ports are vital to the long-term prosperity and wellbeing of countless people across the continent. The Port of Banana will play a major role in supporting the economic aspirations of millions living in DRC. This investment forms part of BII’s ongoing commitment to investing in key sectors in Africa, with further projects under development in the region.”

Mohammed Akoojee, CEO of sub-Saharan Africa for DP World, added, “We are excited to continue our partnership with British International Investment in developing the Port of Banana. This project is a significant step towards enhancing the DRC’s trade infrastructure, unlocking economic potential, and creating jobs. By reducing trade costs and improving access to global markets, we aim to support the DRC’s growth and prosperity. We look forward to the positive impact this development will have on the region and its people.”

This is but one of many recent investments unveiled by BII. In July, the organisation announced a US$20mn senior secured loan to TerraPay in order to enhance the efficiency of remittance transfers on the continent. Learn more at: www.africanreview.com/finance/us-20mn-loan-boosts-african-remittances