Billions pumped into African transport, logistics sector
SETH ONYANGO, BIRD STORY AGENCY AFRICA'S transport and logistics sector is becoming a magnet for investors, pulling in US$1.4 billion in funding in the last four years, making it the third largest by deal value behind fintech and energy. According to the startup funding database 'Africa: The Big Deal,' passenger transport ventures, such as ride-hailing and mobility and financing platforms, have received 48% of the sector funding, with Moove, Swvl, and Yassir raising a combined US$700 million. "With the push for sustainable transport, we expect to see the acceleration of electric vehicles on the continent, backed by financing especially from…