EV focus expands to mobility apps

• Enakl's funding round is led by Catalyst Fund, along with Renew Capital, Digital Africa, Station F, and 15 business angel investors. The funding will be used to expand its operations and develop its technology, leveraging AI to optimise routes.

• Launched in 2023, Enakl manages 15,000+ monthly bookings in Casablanca with 20% month-on-month growth and aims to expand across Africa. It focuses on providing affordable home-to-work commutes and partners with corporations and transport operators to simplify employee travel and reduce their carbon footprints.

• Our take: Just like in fintech, technology is here to accelerate e-mobility... Read more (2 min)

Zimbabwe cuts EV import duty

• The import duty reduction applies to pure electric vehicles. It targets buses, motor vehicles for transporting people, and those for goods transportation. Interestingly, electric tractors currently have an import duty of 0%.

• The country launched its national policy roadmap for electric mobility in 2022. Two years later, it is starting to implement some of the recommendations from its policy document.

• Our take: Policy is the catalyst for growth. We have seen it work in Rwanda, Kenya, and Ethiopia… Read more (2 min)

North Africa leads the EV pack

• Of the $13.2 million raised in November, all but $1 million went to Egypt. This is a significant rise from the $2.1 million raised in North Africa in November 2023.

• The month was also marked by the Morocco visit of the Chinese President as well as several international trade deals, including partnerships with global players like Gotion and Foton Motor.

• Our take: Historically, automotive industries have thrived in clusters... Read more (2 min)

• Coal-based electricity for EVs in SA: Despite the misconception that EVs are ineffective in reducing emissions when charged using coal-based electricity, some experts emphasise their immediate benefits and long-term sustainability. EVs leverage centralised power production, contrasting with the extensive pollution from petrol and diesel production that involves multiple stages. The country is increasing renewable energy adoption and widespread solar power installations during "load shedding" to enhance the viability of EVs. (DailyMaverick)

• EV transition gains momentum: Africa is poised for a transformative shift in urban mobility, with electric vehicles leading the charge towards sustainable transportation. Companies like MAX, Spiro, and Kofa are driving EV adoption by establishing charging networks, assembling EVs, and offering innovative financing solutions to enhance accessibility. For example, MAX and Spiro are expanding their EV operations across Nigeria and beyond, while Oando Clean Energy aims to deploy 12,000 electric buses in Lagos within the next seven years. (CNBC Africa)

• Slow climate finance hinders EV adoption: Africa's transition to clean transport faces a critical need for climate finance, as current investments fall short of the estimated $2.7 trillion annually required by 2050 to achieve low-carbon transportation in low- and middle-income countries. African nations face barriers such as insufficient infrastructure, high upfront costs, and limited regulatory frameworks. Scaling up investment in EVs, public transport, and cycling infrastructure, coupled with capacity building and innovative financing models, could bridge the funding and sustainability gaps​. (WRI)

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