IFC Arc Ride

The International Finance Corporation (IFC) has provided an equity investment to Arc Ride, a Kenyan electric mobility company that manufactures electric motorcycles and operates a battery exchange network. IFC’s investment is meant to support the expansion of e-mobility by improving access to electric vehicle (EV) batteries for two-wheel (2W) drivers in Kenya. 

The project has three main components: (i) scaling network density and service capacity in Kenya; (ii) supporting expansion into new markets across Africa; and (iii) strengthening technology capabilities through Research & Development, as well as incremental updates to internationally compliant standards. These activities align with Kenya’s National Electric Mobility Policy, launched in February 2026 to further the country’s growth and adoption of EVs.

The investment aims to accelerate the transition to electric two-wheelers and significantly reduce greenhouse gas emissions if successful. IFC also intends for the project to provide a blueprint for identifying opportunities to electrify transport and scale e-mobility solutions across Africa. 

Our monitoring is guided by the following concerns:

1. Is the new charging infrastructure meeting the needs of electric two-wheel drivers in Nairobi and supporting broader EV adoption? Are charging stations conveniently located, accessible and reliable? What barriers, beyond charging availability, limit the adoption of electric two-wheelers in Nairobi? How could Arc Ride’s services better address these barriers?
2. How will this project incorporate lessons learned from previous IFC investments in EVs and electric two-wheelers to improve and strengthen the design of charging infrastructure? 
3. Has the approval of Kenya’s E-Mobility Policy translated into meaningful change? Aside from IFC’s investment in Arc Ride, has this policy led to an increase in e-mobility investments?