Altech to Drive E-Mobility Expansion in the Democratic Republic of Congo with new Persistent Investment

May 23, 2024

Altech, a pioneering solar and e-mobility company in the Democratic Republic of Congo, and its lead investor Persistent, announced that Persistent has made a further investment to finance Altech’s expansion of its e-mobility business. This investment aims to scale up Altech’s operations, focusing on the launch of the first full-scale Altech e-Mobility Service Centers (EMSC) in Goma and the introduction of an improved fleet of e-motorcycles.

The Democratic Republic of Congo represents a substantial market opportunity for e-mobility with an estimated 2.3 million motorcycles in 2020, 90% of which were utilized as moto-taxis. Recognizing a market potential of 200,000 bikes annually, Altech offers a transformative solution with its e-motorcycles, providing a sustainable and economically viable alternative for riders.

Altech has proven its business model, offering daily rentals to moto-taxi drivers that include comprehensive insurance, maintenance, and free charging services for a single fee. This service significantly lowers the daily operating costs for moto-taxi drivers, improving their daily net margin by up to 50%.

The company rolled out its e-motorcycle pilot in 2022 across several DRC cities. Designed to withstand the challenging terrain of urban and rural areas, ensuring reliability and affordability to its broad customer base. Altech’s commitment to quality and innovation is reflected in its recognition by the Financial Times as one of the fastest-growing companies in Africa.

With the investment, Altech will establish its first EMSC service centers in Goma, enhancing the infrastructure and operating environment for e-mobility. The centers will serve as one-stop shops for Altech e-motorcycle riders, featuring charging and battery swapping stations and maintenance facilities. It will also provide secure storage for e-motorcycles, further simplifying the operational aspects for moto-taxi drivers.

Altech’s initiative is set to deliver significant environmental and social advantages. By 2030, a projected 109,000 Altech e-bikes on the road are expected to reduce CO2 emissions by approximately 2.7 million tonnes. Moreover, Altech promotes safety and job creation through mandatory driver training, comprehensive insurance, and health benefits for its riders, thereby supporting a safer and more sustainable future for urban transportation in the DRC.

Washikala Malango, Co-CEO of Altech, says: “The e-moto taxi market represents a tremendous opportunity to move the DRC forward in the transition to renewable energy.  Altech tested its e-mobility business model carefully around the country before preparing to launch our e-mobility business.  We are excited about the full-scale launch of our e-mobility business and are grateful for Persistent’s continuing support.”

Persistent´s ongoing support for Altech highlights the strong Venture Building and investing partnership between them as Altech furthers its growth as a diversified provider of essential services to the people of the DRC.

Persistent Partner Chris Aidun, who serves as a Director of Altech’s Board, said: “We continue to be impressed by the Altech team as they take their proven success in solar energy to expand their work into the e-mobility sector.  The DRC can be a leader in e-mobility for moto-taxis in Africa and we expect Altech to be the engine that drives that leadership forward.”

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About Altech

Altech is a leading Solar PayGo and e-mobility provider in Africa, offering innovative and sustainable energy and transportation solutions. With a proven track record of growth and profitability, Altech continues to impact the lives of over 2.5 million Congolese people positively, driving advancements in renewable energy and smart urban mobility.

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