Backed East African EV delivery provider to expand with support in debt financing
2025
OX Delivers was supported through Growth Gateway’s Africa Green Services Deal Accelerator (GSDA)
OX expands market access for >45,000 rural business in Rwanda by providing affordable and convenient delivery services to rural businesses.
OX assembles & operates the world’s first purpose-designed EV truck for Africa while expanding aggregation and charging hubs, driving economic activity.
They are raising financing to expand EV fleet, expanding their rural footprint in East Africa.
Their challenge
- Unfavourable debt terms from investors due to uncertainty about collateral value of EV trucks in E. Africa, given the lack of a second-hand market
- Difficulty identifying suitable investors with risk return profiles aligned to this unique business, stemming from a fragmented investor landscape
The investor materials created by Growth Gateway have been instrumental in convincing investors that the investment risks are acceptable
Colin Tebbet
Managing Director,
OX Delivers East Africa
How we helped
- Determined the right financial instruments for raising capital
- Connected OX to 5 investors willing to engage in detailed discussions on loan structure and terms
- Prepared and reviewed all investor materials used for engagements, outlining why perceived investment risk is higher that the realistic risk profile
Their impact
£125M
Contract
secured
>45k
Businesses with improved market access
(expected)
7,500
Jobs Created
(expected)
~45kt
Annual CO2 mitigated
(expected)
- Helped secure £125M ($163M) contract to set-up franchises across E. Africa
- Helped bring 2,800 EV trucks on the road by 2028 through the secured $163M contract