With capital heavily concentrated in a handful of giants, Nithio’s FUEL vehicle aims to widen the financing pipeline for charging networks and fleet operators.
The company has raised $19 million since inception, supplemented by $20 million from contract chip design — a necessity in a region where deep-tech funding is scarce.
Africa’s mid-market businesses — often too large for microfinance but too small or risky for traditional bank lending — face an estimated $330 billion annual financing shortfall, according to the African Development Bank.
The 2025 Finance Act has been a game-changer, eliminating a 12.5% excise duty on EVs and offering a 50% tax break on batteries and charging infrastructure for two years.
Egyptian proptech startup Nawy has secured $52m in Series A funding, marking one of the largest single rounds in the country’s real estate technology sector to date.
With capital heavily concentrated in a handful of giants, Nithio’s FUEL vehicle aims to widen the financing pipeline for charging networks and fleet operators.
Although disputed claims represent less than 3.5% of lifetime originations, one lawsuit for every 15 active borrowers highlights the legal and administrative costs of enforcing unsecured loans in high-inflation markets.
