Lagos-based Persistent Energy is a VC which usually invests in solar startups like Daystar Power, Oolu, Zonful Energy, Solarworks!, and Resource. But for the second time a little off the rail, the impact venture builder has backed an African e-mobility company.
Persistent first invested in East Africa's Asobo—a social enterprise that provides e-mobility solutions on the water in emerging markets—in 2019.
With fresh backing for Ecobodaa—a startup that provides affordable, connected and lease-to-own electric motorcycle taxis (boda bodas) to riders in Nairobi—the investor is starting to show "persistence" for electric mobility in Africa.
WeeTracker had an exclusive interview with Toukam Ngoufanke, Principal and Venture Builder at Persistent Energy. He talks about Persistent's interest in African e-mobility and the potential of the market in East Africa.
Is the time finally right to invest in African e-mobility?
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