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SWVL, MOOVE Partner to Rollout EV Buses

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Swvl, Inc. (“Swvl”), a global provider of transformative tech-enabled mass transit solutions, and Moove, the world’s first mobility fintech, have announced that they have entered into a partnership to scale Moove’s revenue-based vehicle financing model across the MENAP (Middle East, North Africa, and Pakistan) region, as well as expand vehicle classes to include electric buses. The partnership follows Moove’s recent $105 million Series A2 round.

Starting with an initial rollout of 500 buses, with the goal to scale up substantially, the partnership will enable mobility entrepreneurs on Swvl’s platform to access a range of brand-new buses.

The $1 trillion global mass transit industry presents a sizeable opportunity for mobility entrepreneurs to own their vehicles and strengthen their earning potential.

By paying a percentage of their weekly income, prospective drivers will have the ability to work towards owning their buses through Moove’s two product offerings: Drive-To-Own (DTO), which enables drivers to work towards ownership of their vehicles in 48 months, or Flexi-Rental, an entry-level weekly rental option for drivers who may not yet qualify for DTO.

Moove is committed to ensuring that at least 60% of the vehicles it finances are electric or hybrid. This commitment to tackling the climate crisis saw Moove being awarded the IFC’s 2021 Annual Corporate Award as one of the top 20 most impactful and transformational projects, applying an innovative and scalable solution towards a global problem.

Powered by cutting-edge technology, Swvl empowers underserved communities with transportation solutions that are reliable, convenient, safe and affordable.

By leveraging Moove’s unique credit-scoring technology onto Swvl’s platform, both companies aim to add more drivers and vehicles to Swvl’s platform in order to enable more bus route creation and increase expected earnings for drivers.

Mostafa Kandil, Swvl Founder and CEO, said, “Moove’s unique approach to democratizing vehicle ownership by providing access to financing perfectly aligns with our mission at Swvl. Through this partnership, we areable to further our mission of empowering underserved communities with safe, efficient and cost-effective mobility solutions at scale.”

Ladi Delano, co-Founder and co-CEO of Moove, said, “Forming new partnerships with strategic partners has always been a key driver of growth for us, which is why we are thrilled to be Swvl’s preferred mega fleet partner in MENAP.

Starting with Cairo, our seventh market, this is an exciting time for Moove as the MENAP region presents opportunities that remain untapped and, by virtue of this partnership, we have now expanded into urban transportation and the bus vehicle class.

“With 50% monthly growth since launch, the growth at Moove has been exponential and we are excited to expand our platform to serve more mobility entrepreneurs whilst leading the way in the electrification of mobility fleets in markets across the world.”

Youssef Salem, Swvl CFO, said, “Electrification is integral to Swvl’s mission of substantially reducing emissions via a combination of increasing ride sharing and vehicle efficiency.

Today’s partnership with Moove, who shares our commitment to empower communities and care for our planet, enhances economic opportunities for thousands of captains while transitioning into lower emission fleets.

“This partnership serves as the latest example of executing on opportunities which enhance economics for our stakeholders, protect the environment and diversify and expand supply for our marketplace. We will continue to pursue further initiatives which are core to our sustainable mobility value proposition.”

Moove, launched in 2020 by serial entrepreneurs Ladi Delano and Jide Odunsi, is a mission-led company committed to providing mobility entrepreneurs access to affordable vehicle financing and ensuring that 50% of its customers are women.

The company also aims to ensure that at least 60% of the vehicles it finances are electric or hybrid vehicles as part of its commitment to improving road safety and vehicle emissions on Africa’s roads.

A leader in the mobility fintech space across Africa, Moove-financed vehicles have completed over 3 million rides covering more than 25 million kilometers across 6 markets, including Lagos, Accra, Johannesburg, Cape Town, Nairobi and Ibadan.

 


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General News

FG Plans N50m STEEM Grant to Support Student Innovation in August

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In a giant stride to support innovation, entrepreneurship and economic transformation, the Federal Government is set to unveil a N50 million grant for Science, Technology, Engineering, Mathematics and Medical Sciences (STEEM) students in Nigeria’s tertiary institutions.

The project, which is referred to as the Student Venture Capital Grant (S-VCG), is a pioneering initiative designed to empower the students towards building the next generation of scalable, job-creating ventures.

According to a statement by the Director of Press and Public Relations in the Ministry of Education, Folashade Boriowo, Friday, the initiative will be formally unveiled in August by the Minister of Education, Dr. Tunji Alausa.

Boriowo stated that the minister made the disclosure during a stakeholders’ engagement session held in Abuja in the presence of vice-chancellors, provosts, rectors, student leaders, academic staff, and development partners, and will chart a collective course for nurturing student-led innovation.

The statement noted that the grant targets full-time undergraduate students in STEMM disciplines (Science, Technology, Engineering, Mathematics and Medical Sciences), specifically those in 300 level and above.

“Each selected student-led project will be eligible to receive startup funding of up to N50 million, along with access to mentorship, incubation services and business development support.

“The initiative will be implemented in partnership with the Bank of Industry (BoI) to ensure financial transparency, impact measurement and effective project execution.

“S-VCG is not just a grant. It’s a launchpad for bold, young innovators to lead Nigeria’s industrial and technological transformation,” said Alausa.

Speaking at the session, the Minister of State for Education, Prof. Suwaiba Sa’id Ahmad, described the grant as a strategic investment in Nigeria’s knowledge economy.

“We’re building a stronger, more competitive future by supporting innovation from the ground up,” she said, adding that the programme’s design was informed by months of consultation with students, faculty and institutional leaders.

Participants at the event welcomed the STEMM-Up Grant as a timely, strategic and high-impact initiative that will drive youth innovation, tackle graduate unemployment, and position Nigeria as a hub for student-led entrepreneurship in Africa.

 


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UK Businesses Look to Africa As Strategic Growth Partners

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New research by UK-based Strategy Management Partners reveals that a growing number of British businesses are identifying Africa as a key strategic growth region – drawn by structural reforms, demographic momentum, and rapid digital transformation across the continent.

The research, based on a survey of senior decision-makers from 250 large UK-based companies, finds that 50% are already active in African markets and planning to expand further.

An additional 28% are considering entry, signalling a clear uptick in long-term interest from international businesses with the resources to scale regionally.

The findings challenge outdated perceptions of Africa as a high-risk or secondary market. Instead, they highlight key drivers behind renewed commercial interest: • 61 per cent of UK leaders cited Africa’s large and growing consumer markets as a major draw. • 61 per cent pointed to the continent’s rapid pace of digital and technological adoption. • 50 per cent highlighted the potential of Africa’s young, skilled, and digitally native population.

The study also suggests that Africa is no longer viewed simply as a market for philanthropic initiatives or shortterm gain. Only 20 per cent of respondents cited philanthropic motives, while most are focused on building commercially viable, long-term operations.

Initiatives like the African Continental Free Trade Area (AfCFTA), are also laying the groundwork for significant economic growth.

With 23 countries already implementing preferential tariffs, the framework is expected to facilitate smoother intra-regional trade, enable market scale, and support more efficient supply chains.

These structural improvements are making Africa more attractive to global firms with the ambition to operate at scale.

However, despite rising optimism, significant operational and policy challenges remain. The top four barriers to investment cited by UK business leaders were: political and country risk (68%); safety and security issues 66.4%); regulatory barriers and tariffs (60.4%); and the complexity of cross-border transactions (60%).

Addressing these issues will be crucial to unlocking Africa’s full potential for UK investment. UK companies are showing the most interest in sectors that align with Africa’s core strengths, such as natural resources, agriculture, a young and expanding population, and infrastructure development.

These areas are seen as the backbone for long-term commercial growth, offering opportunities to build local supply chains, expand digital services, scale manufacturing, and meet rising consumer demand.

However, for companies looking to invest or expand into Africa, success also depends on key enabling conditions. According to business leaders surveyed, the top factors supporting investment are: • The size of market and consumer demand (49.6%) • Reliable and consistent energy supply (48.4%) • Access to affordable, educated and capable talent (44.8%) • Efficient transportation networks, such as roads, ports, airports (38%) • A favourable macroeconomic environment: low interest rates, low inflation, stable exchange rates, and seamless cross-border transactions and repatriation of earnings(38%).

“UK businesses are increasingly seeing Africa as a strategic growth market, driven by structural reforms, digital adoption, and the momentum behind the African Continental Free Trade Area (AfCFTA),” says Muibat Ijaiya, Partner at Strategy Management Partners.

“But real progress will depend on practical cooperation with African governments. The AfCFTAis a pivotal step forward – what’s needed now is a deeper alignment between public policy and private investment to address trade, regulatory and infrastructure barriers, and unlock long-term, sustainable growth.”

 


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Experts Champion Sustainability at Lagos Green Economy Forum

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Lagos State’s transition to a greener economy is gaining momentum, with female leaders from top corporations taking the lead and the state government beginning to record early wins from its plastic bag policy.

At the Lagos Green Economy Forum held on July 23, senior executives from MTN Nigeria, IHS Towers, TechnoServe, and other large organisations highlighted the role of corporate innovation in advancing sustainability.

The all-female panel also emphasised the urgent need to integrate Nigeria’s thousands of small and medium enterprises (SMEs) into the country’s green transition.

“We’re not just here to share strategies,” said Temilade Olabanji, Senior Manager, Sustainability and Shared Value, MTN Nigeria. “We are here to build local resilience. Our Project Zero is not only helping us cut emissions but also equipping our suppliers with the knowledge to do the same.”

MTN’s Project Zero aims for net-zero emissions by 2040, with a 50% reduction target by 2030. The company is already powering base stations and data centres with renewables, while training suppliers to understand carbon footprints and adopt circular practices. MTN has pledged that by 2026, 80% of its top suppliers will align with its sustainability goals.

Titilope Oguntuga, Director of Sustainability, IHS Towers, reinforced this approach, noting that the company’s Project Green is decarbonising its over 16,000 tower sites across Nigeria by switching to renewable energy. “Project Green is enabling all sites to run effectively with more renewable sources of energy rather than the typical fossil fuels,” she said. IHS also runs Clinic Without Walls, a free micro-health insurance scheme for underserved communities.

From the nonprofit sector, Juliet Ezeani, Senior Business Advisor of TechnoServe, explained how the organisation supports vendors through environmental impact assessments, sustainability training, and responsible procurement.“For all our projects, we look at how the project runs and especially how it affects the environment,” she said.

Meanwhile, the Lagos State Government provided an update on its green policy efforts, especially the plastic bag ban introduced two months ago.

“All of what we have done so far is towards making the economy of Lagos or the quality of life of the average Lagosian much better,” said Dr. Babatunde Ajayi, General Manager of the Lagos Environmental Protection Agency (LASEPA), who represented the Honourable Commissioner, Mr. Tokunbo Wahab.

On the plastic bag ban, he added: “What that [the ban] has also done is to free up our drainage from the plastic waste. In some way, we have reduced flooding, reduced pollution, and reduced the headache and the cost of maintaining drainages and labourers.”

Dr. Ajayi emphasised that green transition is not just a compliance issue for SMEs but an economic opportunity. “It helps them drive their engines, their entire businesses in a more sustainable manner.”

As Lagos accounts for nearly 30% of Nigeria’s GDP, the increasing alignment between corporate leaders and public policy towards a greener economy is positioning the state as a model for inclusive, environmentally responsible development.


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