Electric bikes can cut operating costs by as much as 75% compared to petrol-powered motorcycles, and that’s just the beginning. As electric vehicles gain momentum worldwide, Africa is quickly emerging as a major frontier for adoption, with 2026 shaping up to be a defining year for the sector. This month, we take a deep dive into electric mobility in Africa, with a special focus on electric bikes and the transformative impact they are having across the continent.
Electric bikes are proving to be a game-changer in Africa, reducing operating costs by up to 75% compared to petrol motorcycles and creating real economic value for riders, entrepreneurs, and businesses. With rising urban populations and fuel prices, the shift to electric mobility is becoming the smart financial choice for millions. Governments across the region are supporting this transition: Ethiopia banned most gasoline and diesel vehicle imports for private use in January 2024, allowing only electric and hybrid vehicles; Rwanda offers VAT exemptions and reduced import duties for electric cars, motorcycles, and charging infrastructure; and Kenya promotes EV adoption through lower excise duties, reduced electricity tariffs, and the expansion of electric buses and motorcycles. In Kenya and Uganda, electric motorcycles, particularly “Boda Bodas”, are already widely used, demonstrating how electric mobility is becoming a core component of urban transport across major African markets.
The cost of EV batteries has dropped dramatically over the past decade. That means the total cost of owning an EV is now around 30% lower over two years compared to traditional petrol vehicles, including fuel and maintenance savings of up to 40–65%.
This increased affordability, paired with supportive policies and expanding infrastructure, is making EVs a practical choice for drivers, businesses, and logistics operators across Africa.
Table1.1: Estimated EV Stock by county
According to data compiled from the International Energy Agency and CediRates (see Table 1.1), several African countries are emerging as leaders in electric vehicle adoption, driven by a mix of policy incentives, infrastructure development, and market demand. Ghana leads the continent with an estimated 17,000 EVs, largely due to duty waivers and strong uptake of electric two- and three-wheelers in urban areas. Morocco follows with around 10,000 EVs and more than 400 public charging stations, supported by a growing EV manufacturing and export sector. South Africa has approximately 6,000 EVs, backed by the removal of import duties and an expanding public charging network. Tanzania’s estimated 5,000 EVs reflect rapid growth in electric bikes and tuk-tuks, while Ethiopia, with roughly 5,000–7,000 EVs, is leveraging its abundant hydropower resources alongside tax and import incentives to accelerate adoption. Kenya and Egypt are also gaining momentum, each recording an estimated 3,500–4,000 EVs, supported by emerging policy frameworks and new charging infrastructure. These figures show a clear upward trajectory in EV adoption, especially in two‑ and three‑wheeler segments and urban transport solutions.
A growing group of startups and companies is building the foundation for widespread EV adoption:
Together, these companies are creating a scalable ecosystem, combining local manufacturing, smart financing models, and practical charging solutions that is tailored to African markets.
Sub-Saharan Africa is at a pivotal moment of growth and transformation, as governments advance policies that support sustainable transport, local innovators build practical electric mobility solutions, and markets increasingly adopt EVs for their clear economic advantages. For companies operating in or entering this space, the opportunity lies in building scalable, impact-driven business models across EV manufacturing, infrastructure, and last-mile mobility. Oxano Capital partners with businesses that are focused on long-term growth, sustainability, and value creation, supporting them not only with capital but with strategic partnership. If you are building a solution in electric mobility and/or sustainable manufacturing and are seeking a long-term investment partner to scale your impact and returns, we invite you to connect with Oxano Capital.