The Private Infrastructure Development Group (PIDG), InfraCo, DOB Equity and Mobility 54 Investment SAS are backing e-mobility startup Zembo by committing $3,4 million. This investment will go a long way toward growing the company’s electric motorcycle business in Kampala, Uganda.
Zembo provides affordable electric motorcycles and battery-as-a-service for motorcycle taxi drivers in Africa, recharging them at solar battery swap stations. Zembo enables drivers to buy electric motorcycle taxis (boda bodas) or to pay for them on a lease-to-own basis. The investment will enable the company to grow the number of electric motorcycles on the road by approximately 2,000 and will support development of an additional 60 Zembo charging and battery swapping stations across the city.
Read more: ESI Africa