
South African Solar Startup Wetility Raises $48 Million For Expansion
Wetility, a South African startup that offers solar energy solutions for households and businesses, has raised R903 million (~$48 million) in debt and equity.
British International Investment (BII) has committed $5 million in funding to ARC Ride to boost the adoption of electric motorbikes in Kenya.
The financial backing will help ARC Ride roll out 5,000 electric two-wheelers, widely known in Kenya as boda bodas.
It will also enable the company to scale its battery-swapping network across East Africa, making electric mobility more accessible and practical for everyday users.
According to BII’s East Africa coverage director, Seema Dhanani, boda bodas are more than just a mode of transport in Kenya—they are central to daily life.
“Electrifying them is vital to building a cleaner and more sustainable future. As the UK’s development finance institution, we are proud to support innovative solutions like ARC Ride that help drive meaningful change for both communities and the environment,” she said.
Joseph Hurst, CEO of ARC Ride, described the partnership as a major step forward in their efforts to grow across the African continent.
“This collaboration allows us to expand significantly while ensuring more clean kilometres are travelled. It means higher earnings for riders and less harm to the planet,” he said.
The partnership signals a growing interest in clean transport options as African cities look to reduce pollution and improve economic opportunities through green technology.
“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.
Wetility, a South African startup that offers solar energy solutions for households and businesses, has raised R903 million (~$48 million) in debt and equity.
Cameroon-based fintech startup Nkwa App has raised $15,000 in Seed Funding to accelerate financial inclusion and promote a saving culture.
TowerCo of Africa Uganda, a telecommunications infrastructure company, has secured $40 million in long-term financing to improve mobile phone network coverage in rural areas across the East African nation.
© 2021 Empower Africa. All rights reserved.