Africa Equity Group makes strategic investment in Kigali EV-financing platform Swapinga
What's the deal? Africa Equity Group has made a strategic investment of undisclosed size in SwapingaDealroom has a profile for this one. Try Dealroom →. The Rwanda-based fintech helps banks and other financial institutions finance the switch to electric vehicles for drivers, fleet companies and cooperatives. The investment will support Swapinga's next stage of growth as it strengthens its platform, deepens its partnerships and gives more drivers access to EV ownership.
Context Founded by Norbert Haguma, Swapinga gives drivers a way to own an electric vehicle instead of renting one. Through partner banks and mobility providers, eligible drivers can get an EV with a 20% deposit and transparent instalment plans, building equity with each payment. The company is positioning itself within Rwanda's Vision 2050 push for green urban transport.
