Ampersand secures $7m for EV expansion

Key Figures & Findings: Ampersand, an Africa-focused electric vehicle energy company, has secured a $7 million working capital facility from British International Investment (BII) to scale its fleet of electric motorcycles and battery-swapping stations across East Africa. The financing, part of a blended round that also included Seedstars Africa Ventures, Gaia Impact, the Rwanda Green Fund, and others, will enable Ampersand to double its active battery fleet by early 2026. The investment underscores rising confidence in Africa’s electric mobility sector, as governments phase out fuel subsidies and transport costs climb.

Statistics & Insights: Ampersand manages over 8,000 active batteries powering 6,000 e-motorcycles, completing about 20,000 daily swaps and covering nearly 900,000 kilometers each day. In Kigali, Rwanda, Ampersand’s e-motorbikes outsell competitors 9-to-1, while in Nairobi, Kenya, the ratio is 4-to-1. The company reports 99% battery durability after 18 months and a customer revenue retention rate above 100%, metrics that have attracted investors to the blended finance round.

Future Implications: If delivered as planned, Ampersand’s expansion could make it East Africa’s leading EV operator by 2026, while its partnership with BYD may further lower battery costs and accelerate adoption. The model could provide a scalable template for e-mobility growth across Africa, linking climate goals with affordable transport.

Source: Arab Founders

Quick Take: East Africa’s growing e-mobility push gains momentum as Ampersand secures $7m to scale its battery-swapping model, a step that could shape regional transport by 2026.