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Nigeria Startup to Expand Electric Vehicle Use in African Push

  • Max to deploy EVs in eight African countries by 2023
  • Africa EV market hampered by power shortage, lack of charging

A Nigerian startup backed by private-equity firm Lightrock LLP is looking to deploy electric vehicles in about eight African countries by next year as demand grows for investment in low-emission transport.

Metro Africa Xpress Inc. raised $31 million last year to develop an EV market on the continent, a challenging task due to the chronic power shortage in the region. The firm plans to enter nations including Egypt, Cameroon and Uganda by 2023 compared with just Nigeria and Ghana now, according to Chief Executive Officer Adetayo Bamiduro.