PROJECT GREEN RIDERS AFRICA

DESCRIPTION OF THE PROJECT:

Green Riders is disrupting and revolutionizing the last-mile delivery sector in South Africa. Currently, this is an industry in which delivery drivers are largely marginalised, voiceless and earning minimum wage. Green Riders is turning it into a market in which riders can earn a much better income, become micro-entrepreneurs who own their assets, and have the opportunity to continue their business development in a sustainable way.

Converting the masses of ICE-vehicle drivers to e-bikes is a substantial contribution to decarbonising the last-mile delivery sector, and reducing the carbon footprint of our market and all associated markets.

INVESTMENT PURPOSE AND ALLOCATION

Green Riders is undergoing expansion across South Africa, and needs investment to support this growth. Expanding our operations will require the purchase of thousands of additional electric vehicles and the hiring of additional staff.

Investment is also needed for infrastructure such as charging stations, satellite training and maintenance hubs to support our expanded fleet. Investing in Green Riders will not only support our growth, but it will also contribute to job creation and the development of a more sustainable and environmentally-friendly last-mile delivery ecosystem in South Africa. By supporting our expansion, investors will be playing a key role in helping us to achieve our twin objective of creating 50 000 sustainable jobs within 5 years and making a significant contribution to the reduction of carbon emissions.

Allocation:
1. Training Funding: USD 14.3M
2. Asset Financing: USD 28.6M