Nithio Launches FUEL, a USD 150 Million Pan-African E-Mobility Debt Fund

Nithio has launched the Fund for Utility and E-mobility Lending (FUEL), a USD 150 million senior secured debt fund designed to finance commercial e-mobility and supporting infrastructure across Sub-Saharan Africa. Fundraising has begun, with a USD 100 million first close targeted for 2027 toward the fund’s overall USD 150 million target.

FUEL will provide senior secured loans of USD 2–15 million, backed by hard assets and cash flows, to fleet operators, fleet finance providers, charging and battery-swapping infrastructure, energy and site providers, original equipment manufacturers (OEMs) and related services. A selective commercial and industrial (C&I) energy sleeve will add portfolio diversification.

The fund builds on FAIR, Nithio’s existing investment vehicle, through which the company has committed approximately USD 55 million to 18 borrowers across African climate and energy markets. Nithio said this experience, together with its 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.

E-mobility investments by Nithio through FAIR, most recently in West Africa’s MAX, have highlighted to Nithio both the compelling commercial opportunities and the critical financing gap facing the sector. As the sector scales, the company sees a need for a dedicated African debt vehicle to provide capital to e-mobility businesses.

With demand rising across the e-mobility value chain, FUEL marks the next step in Nithio’s strategy of applying its climate finance experience in Africa, data and specialized risk analytics to help scale the increasingly commercial but still underserved sector.