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Over of global transportation depends upon oil. CO2 emissions from transport are growing, making meeting the Paris Agreement goals even more difficult. Electric mobility (e-mobility) could be the solution we need: maintaining or improving mobility with less harm to the environment.

“E-mobility plays a vital role in Africa’s green transition—it not only reduces emissions but also drives economic growth and creates critical livelihoods, especially for marginalized communities,” explains Michelle Voon, Program Manager at NDF.

Recognising its significance for climate mitigation, e-mobility has long been a strategic priority for NDF. NDF has invested in various projects focusing on e-mobility, such as the Africa Go Green 91Â鶹ӳ»­´«Ã½, the Energy Entrepreneurs Growth 91Â鶹ӳ»­´«Ã½ and Emerging Markets Climate Action 91Â鶹ӳ»­´«Ã½. Other e-mobility projects are also funded by , a Trust 91Â鶹ӳ»­´«Ã½ Managed by NDF.

This is one reason why we invested USD 15 million in the Mirova Gigaton Investment Vehicle, a debt fund dedicated to advancing energy access, the clean energy transition and climate investments in the Global South.

“One of NDF’s core mandates is to support early-stage interventions and innovative climate solutions that enable scaling and positive impacts,” Voon continues. “Our aim is to contribute to demonstration effects for these innovations, enabling them to attract additional capital and scale-up. Mirova is a strong partner with deep expertise in early-stage sectors like e-mobility.”

Expert’s take on impact investing

Part of Natixis Investment Managers, has EUR 33 billion under management and specialises in sustainable and impact investing, generating a measurable and beneficial impact for society and the environment. Investment Manager Nicolas Couzin is one of their experts on energy transition infrastructure.

“There are many advantages of an electric motor powered by a battery,” Couzin says. “Electric motors are far more energy-efficient than internal combustion engines. They have fewer moving parts and are easier to maintain. This directly translates into cheaper operating costs, making e-mobility particularly appealing. Most importantly, they can be charged with renewable energy, further enhancing their sustainability.”

Anyone in the world can enjoy these advantages, yet Couzin points out there are even more benefits of e-mobility for people in developing regions.

“The population in emerging markets is expected to boom and transportation represent a significant share of anthropogenic emissions. Supporting the development of e-mobility in these regions is crucial to mitigate climate change. Beyond the environmental benefits, e-mobility offers a genuine opportunity for economic advancement, as it can potentially increase disposable incomes by up to 30 per cent, making it a powerful catalyst for development.”

In Kenya, smaller e-vehicles provide affordable mobility. Photo: ARC Ride

Electrical two- and three-wheelers with removable batteries

E-mobility covers all manner of transportation, like electric trains, buses, trucks and passenger cars. The United Nations Environment Programme () has called attention to the importance of smaller vehicles – two- and three-wheelers – in African, Asian and Latin American transport systems. The smaller e-vehicles are especially important as they provide affordable, efficient and accessible mobility solutions that can significantly reduce emissions and improve livelihoods in densely populated areas.

“Here in Kenya we call these bikes boda bodas, which is slang for ‘border-to-border’ transport,” says Joseph Hurst-Croft, CEO of ARC Ride. “They are great for navigating congested streets. We use them as taxis and delivery vehicles. If you use a service like Uber you’ll see many boda bodas as options on the app. Sometimes you’ll even see people delivering furniture with them!”

Founded in 2002, offers e-mobility with battery-as-a-service, primarily for professional drivers. A person can get an electric boda boda and use to exchange batteries whenever needed, so they don’t need to worry about charging. They have about 175 battery cabinets throughout Nairobi and are also expanding into the city of Nakuru. ARC Ride are building the entire infrastructure e-mobility needs.

Recycling batteries can provide a circular economy solution. Photo: ARC Ride

East Africa is an emerging centre for e-mobility

“Our business model isn’t just about reducing CO2 emissions; it is about providing more value,” Hurst-Croft says. “An e-bike might cost 3.2 Kenyan shillings per kilometre to operate, while a petrol bike could cost 5. Emerging markets are extremely price sensitive, so we need to be more affordable.”

By providing e-mobility as a service ARC Ride controls the equipment. Old batteries can find a new life in home solar systems in a circular economy solution. In the future, they would like to offer their infrastructure to other Original Equipment Manufacturers, making an ecosystem for interoperable batteries as a service.

“I’m optimistic for the future,” Hurst-Croft concludes. “About 92 per cent of Kenya’s electricity is already renewable and the public sector decision-makers are all saying the right things about promoting more sustainable solutions. With the right regulatory environment, East Africa will be a real hotbed for e-mobility.”

Electric vehicles are more energy-efficient than internal combustion engines. Photo: ARC Ride

* Mirova Gigaton 91Â鶹ӳ»­´«Ã½ is structured in the form of a SICAV RAIF (Société d’Investissement à Capital Variable, Reserved Alternative Investment 91Â鶹ӳ»­´«Ã½) under Luxembourg law, open to subscription to eligible investors as defined in the regulatory documents. Mirova is the management company and Mirova Kenya Limited acts as Investment Advisor to Mirova. The supervisory authority approval is not required for this fund.