Monday, May 19, 2025
  • Business
  • Investing
  • World-news
  • Stock
No Result
View All Result
Finance Mastery News
Advertisement
  • Business
  • Investing
  • World-news
  • Stock
No Result
View All Result
Finance Mastery News
No Result
View All Result
Home World-news

Can Africa’s EV revolution support rural women?

admin by admin
April 17, 2025
in World-news
0
Can Africa’s EV revolution support rural women?
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

Africa’s electric vehicle (EV) market is accelerating. But so far, one particular group of potential users — rural women — has largely been left behind, with investors favoring electric motorbike start-ups that serve a predominantly urban and male clientele. One company thinks it has the answer: electric tricycles.

“The boys with the two-wheelers get all the money,” said Shantha Bloemen, founder of Mobility for Africa, a Zimbabwean start-up with a 77% female customer base and one of a handful of EV companies in Africa operating solely in rural areas. Bloemen exclusively supplies tricycles, generally preferred by female riders in rural areas due to their non-straddling seat and greater stability on uneven roads. “Three-wheelers mean you’re inclusive of women,” she said.

Bloemen sees tricycles as the key to unlocking for rural women the potential of Africa’s EV market, which is expected to grow to $28.3 billion by 2030, according to data from Mordor Intelligence. She wants the continent to follow in the footsteps of Asia-Pacific, where tricycles are popular. “I want to be everywhere,” she said, “I want to be the queen of tricycles.”

For her customers, the vehicles, designed to cope with the unsurfaced roads, are transformative. “It has changed (our) way of life,” said Beauty Simango, 33, resident of the Zimbabwean village of Hauna and, since May last year, one of more than 300 people to lease or buy an electric tricycle from Mobility for Africa.

Simango no longer spends hours each day walking to fetch water or deliver crops to the market. By transporting goods and running a taxi service, her weekly income has increased from $30 to $150, although she now pays $65 towards her lease and regular battery swapping. Within 12 months, she will have paid off the price of the vehicle ($2,340). With her weekly profit, Simango pays her children’s school fees and funds farming projects. “It has helped our self-esteem as women,” she added.

But Mobility for Africa has struggled with a lack of investment. While Bloemen has raised a total of $6 million since 2019, half of which is from grants, including $380,000 from the Toyota Mobility Foundation, companies selling motorbikes in cities have been far more successful. Ampersand in Rwanda, whose clientele is, according to CEO Josh Whale, “overwhelmingly” male, raised over $21 million in a single year ending in August 2024. Spiro, the giant of the sector, has tens of millions of dollars in financing.

Most EV companies are focused on urban areas due to greater population density, said Tom Courtright, research director at the Africa E-Mobility Alliance think tank. Currently, most electric bikes and trikes must regularly swap their batteries at purpose-built facilities (Mobility for Africa currently has six such facilities) — but the cost of building and running these facilities can deter investors in areas with low populations. Currently, Courtright said, “urban areas are a better bet.”

For now, women in rural Africa must wait for the EV revolution to reach them. “Things are definitely moving in that direction,” said Ampersand’s Whale, “it’s just that the low hanging fruit is in the cities.”

This post appeared first on cnn.com

Previous Post

US pastor rescued ‘miraculously unharmed’ by South African police after gun battle with kidnappers

Next Post

OpenAI in talks to pay about $3 billion to acquire AI coding startup Windsurf

admin

admin

Next Post
OpenAI in talks to pay about $3 billion to acquire AI coding startup Windsurf

OpenAI in talks to pay about $3 billion to acquire AI coding startup Windsurf

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    • Trending
    • Comments
    • Latest
    Criminals are looting millions from ATMs in Europe. Here’s why Germany is a prime target

    Criminals are looting millions from ATMs in Europe. Here’s why Germany is a prime target

    October 28, 2024
    Israeli MP behind bill to expel key UN agency accuses US of interfering with process

    Israeli MP behind bill to expel key UN agency accuses US of interfering with process

    October 28, 2024
    British nurse Lucy Letby loses bid to appeal single attempted murder conviction

    British nurse Lucy Letby loses bid to appeal single attempted murder conviction

    October 25, 2024
    North Korean troops spotted in Russian border region with Ukraine, says Kyiv

    North Korean troops spotted in Russian border region with Ukraine, says Kyiv

    October 25, 2024
    Russia launches largest drone attack against Ukraine since beginning of war, Ukrainian military says

    Russia launches largest drone attack against Ukraine since beginning of war, Ukrainian military says

    0
    Private payroll growth slowed to 122,000 in July, less than expected, ADP says

    Private payroll growth slowed to 122,000 in July, less than expected, ADP says

    0
    The 10 worst states to retire in the U.S. No. 1 isn’t California or New York

    The 10 worst states to retire in the U.S. No. 1 isn’t California or New York

    0
    Boeing taps aerospace veteran Ortberg to replace Dave Calhoun as CEO

    Boeing taps aerospace veteran Ortberg to replace Dave Calhoun as CEO

    0
    Russia launches largest drone attack against Ukraine since beginning of war, Ukrainian military says

    Russia launches largest drone attack against Ukraine since beginning of war, Ukrainian military says

    May 19, 2025
    Secret nose job allegations, ‘Rolexgate,’ and the curse of the Peruvian presidency

    Secret nose job allegations, ‘Rolexgate,’ and the curse of the Peruvian presidency

    May 19, 2025
    Romania’s pro-EU candidate has lead over hard-right nationalist, preliminary election data shows

    Romania’s pro-EU candidate has lead over hard-right nationalist, preliminary election data shows

    May 19, 2025
    Having Trump’s ear is the new frontline in the Russia-Ukraine war

    Having Trump’s ear is the new frontline in the Russia-Ukraine war

    May 19, 2025

    Recent News

    Russia launches largest drone attack against Ukraine since beginning of war, Ukrainian military says

    Russia launches largest drone attack against Ukraine since beginning of war, Ukrainian military says

    May 19, 2025
    Secret nose job allegations, ‘Rolexgate,’ and the curse of the Peruvian presidency

    Secret nose job allegations, ‘Rolexgate,’ and the curse of the Peruvian presidency

    May 19, 2025
    Romania’s pro-EU candidate has lead over hard-right nationalist, preliminary election data shows

    Romania’s pro-EU candidate has lead over hard-right nationalist, preliminary election data shows

    May 19, 2025
    Having Trump’s ear is the new frontline in the Russia-Ukraine war

    Having Trump’s ear is the new frontline in the Russia-Ukraine war

    May 19, 2025

    Disclaimer: financemasterynews.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Browse by Category

    • Business
    • Investing
    • Stock
    • World-news

    Recent News

    Russia launches largest drone attack against Ukraine since beginning of war, Ukrainian military says

    Russia launches largest drone attack against Ukraine since beginning of war, Ukrainian military says

    May 19, 2025
    Secret nose job allegations, ‘Rolexgate,’ and the curse of the Peruvian presidency

    Secret nose job allegations, ‘Rolexgate,’ and the curse of the Peruvian presidency

    May 19, 2025
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 financemasterynews.com | All Rights Reserved

    No Result
    View All Result

    Copyright © 2025 financemasterynews.com | All Rights Reserved