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African Development Bank Group

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Kenya Set to Benefit from AfDB’s KES 130m Electric Vehicle Fund

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Kenya is set to receive part of the USD 1 million fund from the African Development Bank (AfDB) under its Green Mobility for Africa (GMFA) project. The project is a financing program that aims to speed up and widen private sector investment in sustainable transportation options in Africa. It does this through the provision of investment capital and technical support.
It will also help African countries in expanding their investments in this growing sector and open the door for the Bank’s direct investments. The SEFA financing will only cover the electric vehicle components, while other co-financiers will support other technologies.
The $1 million fund will be allocated toward three areas. First, it will support the establishment of favourable conditions for electric vehicles (EVs) and development of a portfolio of projects. Second, it will help design an EV business model and guidelines and provide technical support for project preparation. Finally, it will manage SEFA financing for the EV components of the project.
https://techweez.com/2023/03/21/kenya-afdbs-kes-130m-electric-vehicle-fund/



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  • Peter Karanga

    65 w

    This is great news for Kenya! The African Development Bank's (AfDB) KES 130 million electric vehicle fund will go a long way in providing access to clean and efficient transport in the country. With this, Kenya will be able to reduce its carbon footprint and create new jobs in the green and sustainable transportation sector. This is a major step forward for Kenya in achieving its goals of a more sustainable and green future.

    3
    • Majdi Alnajjar

      65 w

      Railway solutions 💡🤞🏻

      5
      • john linus Tom

        65 w

        This is the right way to go, it will reduce pollution

        2
        • Edwin wangombe

          65 w

          Woow this is good news for Kenya can't wait to ride in an EV

          2
          • Munene Mugambi

            65 w

            More electric vehicles for Kenya

            2
            • Hilda Wangui

              65 w

              Good news electric for the future 👍

              6
              • rosebellendiritu

                65 w

                @hilda_wangui Promising future

                3
              • dickson mutai

                65 w

                the kind of actualizations we need

                11
                • Tabitha Kimani

                  65 w

                  This vehicles are so efficient. No noise and air pollution.

                  12
                  • Ajema Lydiah

                    65 w

                    amazing

                    3
                    • walter lungayi

                      65 w

                      great initiative

                      3
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