Mauto announces closing of $5 million transaction in the voluntary carbon offset market for electric mobility in Africa

African electric two-wheeler company Mauto has announced the first closing of a $5 million transaction consisting of a funding agreement with Aera, Africa's leading carbon credit trader, and Swiss nonprofit climate protection organisation myclimate.  
Mauto announces closing of $5 million transaction in the voluntary carbon offset market for electric mobility in Africa
Courtesy of Mauto.

With COP27 just beginning in Egypt, the signing of this $5 million deal - the largest in Africa in terms of carbon credits for electric mobility - will help to immediately meet the continent's commitments to a sustainable energy transition.

“There are effective ways to finance the ecological transition in Africa and to make it affordable and sustainable” said Shegun Adjadi Bakari, CEO of Mauto. “No population will accept this without strong support. That’s the whole point of this operation.”

The funding, committed to transparency in carbon footprint measurement, will be spread over the next three years.

The contract covers the reduction of emissions generated by Mauto, which plans to deploy over 2 million electric motorbikes in Africa by 2030.

Mauto has been present in Benin and Togo for four months now with 2,700 electric motorbikes on the road. The brand will be rolled out before the end of the year in Rwanda. By 2030, the aim is to be operational in over ten countries across Africa.

The closing of this $5 million transaction, while accelerating the deployment of electric two-wheelers in Africa, will also address the challenge of electrification.

Approximately 80 percent of the electricity that will be used to charge the electric vehicles will come from photovoltaic charging stations that will be installed as the roll-out progresses.

Since its launch, Mauto has been dedicated to urban, ecological and affordable mobility and is working towards building its own carbon-neutral assembly plants to be ready by 2024. In order to certify the achievement of its environmental and social commitments, Mauto intends to obtain the Sustainable Development Verified Impact Standard (SD VISta) label issued by Verra.

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