eWAKA receives a 500 000 CHF Loan from SECO Start-up Fund

26 Jan 2023

eWAKA , a sustainable mobility startup, has secured strategic support from the State Secretariat for Economic Affairs (SECO) Start-up Fund of the Swiss Confederation.

SECO Start-up Fund offered eWAKA a loan of 500,000 CHF to support the mobility startup's 2023 plans to accelerate a growth plan focused on providing innovative and sustainable mobility technology in Africa through the production and local promotion of the e-bike brand eWAKA known as Shujaa.

Celeste Vogel, Co-founder, Chief Executive Officer & General Counsel of eWAKA commented on eWAKA’s 2023 growth strategy. She said,

“eWAKA’s unique value add proposition is the completeness of the ecosystem we offer in the space of last-mile transportation. As understanding localized constraints and variables are key to successfully deploying micro-mobility models and solutions, eWAKA conducted several pilot projects with target customer segments to further develop our product line. For 2023, eWAKA will pursue strategic partnerships to expand our customer base by adding greater financing options and aggressively promoting the Shujaa roll out in Kenya, targeting the B2B sector as well as independent drivers.”

A growth plan based on several pilot projects, including the opening of the Shujaa market, will allow eWAKA to expand to other parts of Kenya and East Africa in 2023. A key part of eWAKA's growth strategy is to provide financing options for self-delivery drivers.

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Susanne Grossmann, the manager of SECO Start-up Fund also commented on the eWAKA financing facility:

“After a robust selection process, we are pleased to offer eWAKA a loan for executing their business model in Kenya. We welcome the contribution to local production in the e-vehicle space and we hope that eWAKA will set a successful example for efficient, climate friendly traffic systems in African cities that meet the mobility needs of the continent.”

eWAKA is a platform for commuter and commercial micro-mobility fleets that combines hardware, software and servicing to respond to the increasing urban transportation needs on the continent while addressing the major climate challenges of the transport sector. It was launched in March, 2022.

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