Solarbox's solar-PAYG EV model solves Africa's transport financing gap, targets Nigeria

Senegalese startup Solarbox charges electric motorcycles and tricycles using solar power, letting informal sector workers pay via QR scan and mobile money with no credit checks or deposits. Founded in 2022 by Tijan Watt (also of Wuri Ventures), they launched a pay-as-you-go model where drivers top up as they earn—mirroring Africa's airtime recharge success—to bypass 35-60% asset financing rates that block okada and keke operators.

Their local assembly in Dakar lets them replace individual battery cells instead of whole packs, cutting costs as battery prices fell 96% over 20 years. Solarbox already serves corporate clients like DHL and FedEx, monetizing journey data through insurance partnerships (Care Health) and selling renewable energy credits. Having raised $1M pre-seed in 2024 from AFD-backed Digital Energy Facility and Launch Africa Ventures, they're now raising seed funding plus a special purpose vehicle to deploy $50-100M in EVs for consumer financing.

For Nigerians facing fuel subsidy removal, will this QR-based PAYG model—which needs only a phone and works for daily income—solve your transport financing headache, or do you see barriers in adopting solar-charged EVs for your okada or keke business?

SOURCE: https://techcabal.com/2026/06/16/francophone-weekly-by-techcabal-027/