Three EV firms picked for UK-funded accelerator

From the newsletter

Three Kenyan electric vehicle companies have graduated from the UK’s Green Business Building (GBB) accelerator programme. Songa Mobility, an EV company targeting sub-Saharan Africa, AceleAfrica, a battery manufacturer, and eBee, an electric bicycle company, were part of the first two cohorts that have graduated this year after being trained by McKinsey. 

• Most African EV startups struggle to raise seed funding. Accelerators provide small initial investments and help startups connect with angel investors, VCs, DFIs and climate-focused funds.  

• At a Nairobi event this week, graduating companies said they received mentorship on navigating policies, building partnerships with governments, utilities, and financiers, and finding product–market fit. 

More details

• Launched in January 2025, the GBB accelerator program is an initiative of the UK-funded Manufacturing Africa programme that seeks to find, fund, and scale green businesses. The three-month program provides innovative start-ups with hands-on, tailored advisory support from global consultancy company McKinsey to help raise funding and scale sustainable pro-climate solutions. 

• “Kenya’s green manufacturing sector is bursting with innovation and potential. Through programmes like the Green Business Building Accelerator, the UK is proud to support Kenyan entrepreneurs who are driving climate-smart solutions and harnessing technology to build a more sustainable future,” said Acting British High Commissioner, Dr Ed Barnett. 

• The companies in the new cohort had a chance to pitch to about 17 investment companies that were in attendance at the event in Nairobi. This comes at a time when funding to EV companies in Africa has slowed down this year. The total funding to the electric mobility sector stood at $129 million in the first eight months of 2025, according to data from the Big Deal Africa. 

• Historically, African EV startups have not struggled as much to get seed funding, which often ranges between $50,000 – $2 million, though deals can be smaller or larger depending on the sector. Where they have struggled however is getting access to much-needed growth capital, with most deals falling between $1 million and $30 million. This has hindered rapid scaling of many companies that have already found traction in the market. 

• The EV market in Africa is growing quite fast. Its value is estimated at $15-20 billion, with projections to reach $28-30 billion by 2030. The EV charging infrastructure market also shows strong growth. South Africa remains the leader in EV sales on the continent, but sales in Morocco, Ghana, Egypt, Kenya, and Ethiopia are also growing rapidly. The vast majority of EVs sold in Africa are electric motorcycles, but sales of electric cars, bicycles and tri-cycles are also rising fast. 

• Africa’s EV startups face a major funding gap, which is stunting growth. The lack of capital means companies have been unable to build critical infrastructure such as charging and swapping stations and build assembly and manufacturing plants. Consumer financing has also been a hard nut to crack, with the majority of customers relying on expensive loans to buy EVs. 

Our take

• Accelerator programmes don’t guarantee success, but they give EV startups in Africa a faster, smarter path to growth by providing funding, expertise, and networks that are otherwise very difficult to access.

• Africa’s markets are fragmented; what works in Kenya may not work in Nigeria or South Africa. Accelerators should provide tailored regional expansion support, making it easier for startups to grow beyond one country.

• Many accelerators depend on grants or donor funding and struggle once that funding ends. They need revenue-generating models such as buying equity stakes and forging corporate partnerships.