PIDG company InfraCo Africa has joined into a consortium with DOB Equity and Mobility 54, to commit to a €3 million investment in Zembo that will grow the company’s electric motorcycle business across Kampala, Uganda. Zembo helps drivers buy electric taxis or pay them with a lease-to-own arrangement. This investment helps the company grow the number of their motorcycles by 2,000 while supporting the development of additional >60 Zembo charging and battery swap stations across the city.
Zembo co-founder Étienne Saint-Sermin said, “Zembo’s mission to improve incomes for Uganda’s boda boda riders while cutting air pollution.”
Gilles Vaes, InfraCo Africa CEO pointed out that “Zembo has a great track record of delivering electric two-wheeler vehicles to the market.”
Zembo is working to increase the number of electric motorcycles on Kampala roads. The company’s model means that drivers do not have to buy, own or charge batteries. Instead, they make a swap for a fully charged one. Uganda’s national grid is fueled by 92% renewable energy and adding extra off-grid solar PV charging stations will ensure vehicles reduce emissions.
Saskia van der Mast, co-CEO at DOB Equity described Zembo as “offering a low-emission and cheaper transport solution.”
The new investment will support Zembo’s growth offering high health and safety standards and business development helping the company scale and attract future private sector development.
We’re excited to announce our raise of €3 million from InfraCo Africa, DOB Equity, and Mobility54 to continue developing electric boda bodas and charging stations for Uganda https://t.co/hJRPLTniiR
— Zembo (@gozembo) November 12, 2021