MANA Mobility Ltd., a company that manufactures affordable e-cars in Ghana, announces that it has signed an agreement to join forces with Cargo Bikes Africa Ltd., an e-mobility start-up disrupting mobility value chains through its introduction of e-bikes for delivery and commuting.
The consolidated company will henceforth operate under the brand name “MANA Mobility” with the collective entity set to be valued at USD20m.
MANA Mobility is a German-Ghanaian enterprise creating an ecosystem for e-mobility solutions in Africa with the core of operations in Ghana.
The product portfolio comprises an open e-mobility platform that connects drivers, passengers and goods, in an easily accessible, inclusive, transparent, country-wide, and multimodal manner.
MANA Mobility develops electric vehicles, which are affordable, safe, reliable, functional, as well as Ghanaian-designed, engineered and manufactured.
Cargo Bikes Africa is an e-mobility start-up innovating mobility processes, boasting partnerships with pan-African e-commerce platforms, supporting to make delivery services more sustainable through the design, local production and subscription of e- bikes and e-trikes.
Both entities are tackling major problems of the transport sector in African cities such as congestion, pollution, and unemployment.
The deal will combine Cargo Bikes Africa’s expertise in electric bike design, production, and distribution models with MANA Mobility’s experience in manufacturing and global supply chain management and app development.
The combined entity will be able to produce electric vehicles that meet the needs of African roads and customers.
MANA Mobility Germany’s CEO, Peter Schwarzenbauer (a former Member of the Board of BMW AG) said: “We are thrilled to be partnering with Cargo Bikes Africa. It is a company that shares our vision of creating a world where everyone can access affordable, clean energy transportation solutions that remove barriers to opportunity and enhance mobility-as-a-service in emerging markets. This deal will enable us take this vision to become reality sooner than previously thought possible.”
MANA Mobility is proud to announce the appointment of Valerie Labi as CEO and Co- Founder for the joint entity. Ms. Labi was formerly the co-founder of Cargo Bikes Africa, where she led the company towards a successful exit.
Under her leadership, MANA Mobility will now orientate its strategy to establish local manufacturing operations for the local production of 2, 3, and 4-wheeler EVs as well as grow and develop an open-source technology platform providing an ecosystem of EV services, and creating a community of e-drivers and e-riders.
William Senyo, Co-Founder of the Impact Hub Accra, and convener of the Net Zero Electric Mobility Advocacy Platform believes that, “the coming together of these two companies will not just solidify a major player in the e-mobility sector in Africa; but is also a testimony for the start-up community as a whole. All too often we see people go it alone when their businesses would be stronger and grow faster if they leveraged comparative advantages. I’m excited to see how they will disrupt the industry together!”