Nithio is pleased to announce the launch of the Fund for Utility and E-mobility
Lending (FUEL), a new USD 150 million senior secured debt fund designed to
finance commercial e-mobility and supporting infrastructure across Sub-Saharan
Africa.
FUEL builds on the success of Nithio’s existing investment vehicle, FAIR, through
which Nithio has committed approximately USD 55 million to 18 borrowers across
African climate and energy markets. This experience, combined with Nithio’s
proprietary risk analytics built on more than 100 million payment records across 19
Sub-Saharan African markets, has provided a strong foundation for expanding into
e-mobility.
Recent FAIR investments in electric mobility, most recently in MAX in West Africa
[MAX press release], have demonstrated both the commercial opportunity and the
significant financing gap facing the industry. As the sector scales, Nithio sees a need
for a dedicated African debt vehicle capable of providing capital to e-mobility
businesses.
Recent FAIR investments in the electric mobility sector have demonstrated both the
commercial opportunity and the significant financing gap facing the industry. As the
sector scales, Nithio sees a need for a dedicated African debt vehicle capable of
providing capital to e-mobility businesses.
FUEL will provide USD 2–15 million senior secured loans, backed by hard assets
and cash flows, to fleet operators, fleet finance providers, charging and battery-
swapping infrastructure, energy and site providers, OEMs, and related services. A
selective C&I energy sleeve will provide additional portfolio diversification.
With demand increasing across the e-mobility value chain, FUEL represents the next
step in Nithio’s strategy: applying its climate finance experience in Africa, data and
specialized risk analytics to help scale an increasingly commercial but still
underserved sector.
Nithio is launching the fundraising process now, targeting a USD 100 million first
close in 2027, toward the fund’s overall USD 150 million target.
To learn more about FUEL, contact [email protected].
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