By Business Insider Reporter
East Africa’s transport and business sectors are on the cusp of a major transformation following a fresh capital injection into Ampersand, the pioneering electric motorbike company. The firm has closed a multi-investor funding round led by British International Investment (BII) – the UK’s development finance institution – alongside new equity from Seedstars Africa Ventures, Gaia Impact, the Rwanda Green Fund, and Raspberry Syndicate.
Existing backers, including Ecosystem Integrity Fund, AHL Ventures, Acumen, HEHF, and TotalEnergies, also increased their commitments.
The combined financing will fuel Ampersand’s rapid expansion of its electric motorcycle fleet, battery swap network and charging infrastructure across East Africa, positioning the company as a frontrunner in the continent’s shift to clean mobility.
Ampersand CEO Josh Whale described the investment as a “powerful vote of confidence” in the mission to electrify Africa’s most important form of transport.
The company plans to double its battery fleet by early 2026, enabling over 35,000 daily battery swaps and powering thousands of drivers with a cleaner, cheaper, and better-performing alternative to petrol motorcycles.
Boost for regional trade
Ampersand’s expansion is poised to benefit not just the transport sector but the broader economy.
By reducing fuel costs and maintenance expenses for motorcycle taxi operators – a dominant form of urban and peri-urban transport – the company could significantly improve the profitability of small transport businesses. Lower operational costs are expected to ripple across the value chain, reducing delivery expenses for SMEs, improving access to markets for farmers, and enhancing last-mile logistics for e-commerce platforms.
Seema Dhanani, BII’s regional director for East Africa, said:
“Electric mobility is a game-changer for inclusive, low-carbon growth, particularly in East Africa. Our investment in Ampersand reflects BII’s commitment to backing climate innovation that delivers real impact – supporting livelihoods, reducing emissions, and helping Africa lead in sustainable transport.”
Designed for local conditions
Maxime Bouan, general partner at Seedstars Africa Ventures, noted that Ampersand’s locally-tailored design and strong execution track record made the investment compelling.
“Their electric motorbikes are purpose-built for local conditions and already in widespread commercial use. The team has shown exceptional capacity to operate in a complex market, scale efficiently, and deliver measurable impact.”
Guilhem Dupuy, partner at Gaia Impact, added that Ampersand’s proprietary technology stack and ability to turn batteries into “bankable financial assets” represented a breakthrough in the energy sector.
A catalyst for the green economy
Beyond transport, Ampersand’s business model could act as a catalyst for a broader green economy in East Africa.
The expansion of battery-swapping stations will require local technicians, infrastructure development and supply chain integration, creating new job opportunities.
The reduction in petrol demand could also ease pressure on foreign exchange reserves by lowering fuel import bills.
With urban populations in East Africa growing rapidly and the need for sustainable, cost-effective transport becoming urgent, Ampersand’s move could redefine mobility while giving the region a competitive edge in the global shift toward clean energy solutions. If executed at scale, Ampersand’s model could serve as a blueprint for other African markets – proving that clean transport is not just an environmental imperative, but a profitable and transformative business opportunity.
