At least 30 African heads of states are expected in Nairobi for the forum Teketeke managing director Richard Chesebeh at the firm's assembly point in Nairobi /HANDOUT Kenya is expected to champion for e-mobility at the upcoming Africa Summit, with local firms in the sector pushing for innovation and funding partnership with Franch and European Union.
The summit, scheduled for May 11–12 in Nairobi, is jointly hosted by Presidents William Ruto and Emmanuel Macron of France. It marks the first time since 1973 that an Africa-France Summit is being held in an English-speaking African country. At least 30 African heads of states are expected in Nairobi for the forum that has also attracted more than 1,500 business leaders and global investors.
On Friday, a Kenyan electric mobility company, Teketeke said the forum presents a perfect opportunity to scale up the uptake of e-mobility as investors, innovators and policy makers meet. Kenya's e-mobility sector faces a massive, multi-billion-dollar financing gap, with roughly $8.9 billion in asset financing needed to achieve 80 per cent electric two-wheeler (E2W) penetration, while only about $50 million in funding has been realised.
High initial capital costs for vehicles and infrastructure hinder growth, despite innovative Pay-As-You-Go (PAYG) models helping consumers Addressing media, Teketeke director, Richard Chesebeh said his firm is seeking at least Sh1 billion in investment to expand charging infrastructure and accelerate adoption of electric transport solutions across the country.
According to Chesebeh, the firm is positioning itself as a homegrown solution to Kenya’s growing demand for clean and affordable transport. The company, which assembles electric bikes and three-wheel tuk-tuks at its plant along Mombasa Road opposite Signature Mall, is focusing on solar-powered mobility products aimed at reducing reliance on fossil fuels and cutting carbon emissions.
Chesebeh said Kenya has nearly two million boda boda riders, yet fewer than 30,000 currently use electric motorcycles, a gap he attributed to inadequate charging infrastructure and limited financing options.