eWAKA, a Kenyan sustainable mobility startup has secured a $540,000 loan from the State
Secretariat for Economic Affairs (SECO) Start-up Fund of the Swiss Confederation.
According to a statement, the loan will support eWAKA’s 2023 plans to
accelerate a growth strategy focused on providing innovative and sustainable
mobility technology in Africa through the local production and promotion of
eWAKA’ signature electronic bike known as the Shujaa.
It noted that given the
transportation sector is the second highest contributor to greenhouse gas
emissions, the urban logistics sector in Africa and across the globe urgently
needs to adopt new technologies and business models to fight climate change,
which disproportionately affects African countries.
“The effects are being felt in
major economic value chains including the agriculture sector, Africa’s largest.
By adopting more cost-effective and environmentally friendly vehicles into
transportation fleets, the logistics sector can play a crucial role in helping
Africa tackle climate challenges while providing significant economic benefits
to a number of critical industry sector value chains,” the statement said.
It further revealed that the growth
strategy built on several pilot projects including a Shujaa market introduction
will enable eWAKA to expand to other parts of Kenya and East Africa in 2023.
A key
element of eWAKA’s growth plans is to secure additional financing options for
independent delivery drivers.
Commenting on eWAKA’s
2023 growth strategy, Celeste Vogel, Co-founder, Chief Executive Officer &
General Counsel of eWAKA said: “eWAKA’s
unique value add proposition is the completeness of the ecosystem we offer in
the space of last-mile transportation.
“As understanding localized constraints and
variables are key to successfully deploying micro-mobility models and
solutions, eWAKA conducted several pilot projects with target customer segments
to further develop our product line.
“For 2023, eWAKA will pursue strategic
partnerships to expand our customer base by adding greater financing options
and aggressively promoting the Shujaa rollout in Kenya, targeting the B2B
sector as well as independent drivers.”
Susanne
Grossmann, the manager of SECO Start-up Fund commented on eWAKA financing
facility: “After a robust selection process,
we are pleased to offer eWAKA a loan for executing their business model in
Kenya. “We welcome the contribution to local production
in the e-vehicle space and we hope that eWAKA will set a successful example for
efficient, climate friendly traffic systems in African cities that meet the
mobility needs of the continent.”
2022
was a watershed year for eWAKA. Leveraging key customer segment insights and
expanding local production capabilities, eWAKA is poised for growth in 2023
with a full product line for multiple customer segments offering flexible
rental options, subscription and purchase plans to meet commutes, personal
well-being, and net-zero targets.
