Expansion of Electric Vehicle Battery Swapping Infrastructure Spreads Throughout Ghana by Kofa Technologies

A series of exciting developments are taking place in the electric vehicle (EV) sector across Africa, with several companies and startups leading the charge towards a cleaner, more sustainable future.

One such initiative, spearheaded by Kofa Technologies, a Ghanaian startup, and PASH Global, aims to deliver a reliable, affordable, and clean energy solution for electric two-wheelers in West Africa. The collaboration, backed by a £2.35 million ($3.13M) investment from the Shell Foundation, with additional co-funding from the UK Government, seeks to reduce fossil fuel dependence and promote the adoption of electric vehicles (EVs) across Africa.

Kofa Technologies will oversee battery network management and Special Purpose Vehicle (SPV) operations, including infrastructure for battery swapping. This innovative approach will streamline the process of charging and replacing batteries, making EVs more accessible and convenient for users.

The expansion plans of this initiative involve deploying 6,000 batteries and establishing up to 100 swap stations across the country. The aim is to provide power to small businesses and homes that currently rely on small petrol generators, contributing to a cleaner environment and reduced carbon emissions.

In East Africa, Zeno, a startup founded by Tesla alumnus Michael Spencer, has entered the fast-growing EV sector and raised $9.5 million for swappable battery technology. The company plans to launch its first electric motorbikes in early 2025 across the region.

Meanwhile, Xetex, a startup founded by a Tesla employee, is aiming to introduce swappable battery technology in East Africa. The exact details of the company's expansion plans are not yet available.

The African EV market is projected to have a compound annual growth rate (CAGR) of 8.87% from 2024 to 2029, with the market forecasted to reach $204.8 million in revenue by 2024, and $313.3 million by 2029.

In addition to these developments, BasiGo secured $225,000 to enhance its charging infrastructure, and Ampersand from Rwanda raised an additional $2 million in equity in preparation for a Series B round.

PASH, a key player in this movement, plans to transition these stations entirely to solar power, further reducing their carbon footprint and contributing to a more sustainable energy solution.

With Ghana boasting around 17,000 registered electric vehicles, making it one of the largest EV fleets of four-wheelers in Africa, the potential for growth in the EV sector is significant. The Shell Foundation and the UK Government's Transforming Energy Access (TEA) platform are contributing an additional £1.4 million ($1.8M) to the project, demonstrating a strong commitment to a greener future for Africa.

These developments mark an exciting time for the EV sector in Africa, with numerous companies and startups working towards delivering affordable, clean, and reliable energy solutions, and promoting the adoption of EVs across the continent.