Day: September 28, 2024

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Ampersand and CrossBoundary Energy Collaborate to Power Electric Motorbikes with Solar Energy in Kenya

Key Developments

Ampersand and CrossBoundary Energy Collaborate to Power Electric Motorbikes with Solar Energy in Kenya

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E-mobility startup Ampersand has announced a strategic partnership with CrossBoundary Energy to provide solar-powered charging solutions for its electric two-wheeler (E2W) motorbikes in Kenya.

This collaboration aims to expand the availability of sustainable charging infrastructure, enabling the faster and more efficient growth of Ampersand’s electric motorcycle fleet across East Africa.

Founded in 2016, Ampersand focuses on assembling and financing electric motorcycles that are more affordable and efficient than the traditional petrol-powered alternatives.

With over five million petrol motorcycles operating in East Africa, Ampersand’s electric vehicles present a greener and more cost-effective solution.

Since launching commercially in May 2019, the company has grown its fleet to more than 3,400 electric motorcycles, with plans to exceed 10,000 by the end of 2024.

The partnership with CrossBoundary Energy will provide renewable electricity at a lower tariff for charging Ampersand’s electric motorcycles, supporting the company’s rapid and sustainable scaling efforts.

Ampersand will handle battery maintenance and manage its charging stations, while CrossBoundary Energy will pilot financing and owning the charging infrastructure and batteries at one of Ampersand’s swap stations in Nairobi.

The pilot phase will feature 36 electric charging units and 150 lithium-ion batteries, powered by a 37kWp solar photovoltaic (PV) system.

The solar-powered setup will ensure affordable, clean energy for Ampersand’s electric motorbikes, further reducing carbon emissions in the region.

CrossBoundary Energy, known for its expertise in delivering distributed renewable energy solutions, sees this partnership as an entry point into the e-mobility sector.

“This launch is exciting for many reasons – firstly, it marks the start of CrossBoundary Energy’s foray into the e-mobility sector, where we aim to accelerate private investment and drive growth. Secondly, working with Ampersand, a partner with a proven track record and ambitious plans for East Africa, allows us to contribute significantly to their scaling efforts,” said Tombo Banda, Managing Director and Head of CrossBoundary’s Innovation Lab.

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Itana and Africa Finance Corporation Partner to Develop Africa’s First Digital Economic Zone

New Investments

Itana and Africa Finance Corporation Partner to Develop Africa's First Digital Economic Zone

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Itana and the Africa Finance Corporation (AFC) have entered into a formal partnership to develop Africa’s first digital economic zone.
 

The announcement was made at the Global Africa Business Initiative (GABI), held during the United Nations General Assembly.

AFC will lead the financing of the first phase of the Itana project, which is valued at $100 million.

The corporation is working with Itana alongside partners such as Future Africa, PwC Nigeria, and Charter Cities Institute as part of the Initiative for the Promotion of Digital Economic Zones in Nigeria (DiFZIN).

In August 2024, the Nigerian government established a steering committee dedicated to the development of digital economic zones.

The committee includes key ministers, such as those from finance, justice, industry, trade, investment, communications, and the digital economy.

Africa’s digital economy has seen substantial growth over the past decade, with the number of internet users rising from 216 million in 2015 to 728 million by 2024.

Startup funding has also surged, with African startups raising over $4 billion in 2023, up from less than $200 million in 2015.

However, despite these positive trends, regulatory challenges in key startup hubs like Nigeria have caused many entrepreneurs and investors to hesitate.

Itana aims to address these challenges by fostering more favorable conditions for the digital economy.

Itana, co-founded by CEO Luqman Edu, COO Coco Liu, and Iyinoluwa Aboyeji of Future Africa, is developing a digital economic zone in Lagos, Nigeria.

This zone is designed for businesses in tech, finance, and services seeking to expand across Africa.

Companies that register within the Itana free zone will benefit from exemptions such as corporate income tax and value-added tax, along with the freedom to process payments in any currency and avoid import duties on physical products.

Since its founding, Itana has raised $2 million from investors, including Future Africa, Promonos Capital, and LocalGlobe.

The first phase of its development includes a tech campus in Nigeria that will accommodate up to 5,000 people.

Itana already boasts over 2,000 digital members, and several businesses have been licensed to operate within the zone, with more in the application pipeline.

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“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.

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