Triple Jump, a Netherlands-based impact investment manager with a strong track record of financing inclusive financial institutions and clean energy businesses across emerging markets, represents one of MAX’s first international institutional lenders.

Its participation underscores confidence in MAX’s operating model, asset-backed lending structure, and long-term scalability within Africa’s evolving mobility sector.

The funding will support:

• Expansion of MAX’s electric vehicle (EV) fleet
• Rollout of battery swap infrastructure
• Continued development of its Pay-As-You-Go (PAYGO) financing platform

MAX’s model is designed to lower barriers to asset ownership for commercial drivers (“Champions”), enabling income generation through access to productive mobility assets while reducing operating costs relative to internal combustion alternatives.

Operating across Nigeria, Ghana, and Cameroon, with Nigeria as its core market, MAX is building an integrated ecosystem comprising:

• Purpose-built EVs adapted for local conditions
• Battery swapping infrastructure to address charging constraints
• IoT-enabled fleet management systems
• Embedded financing solutions for underserved drivers

Verdant IMAP acted as sole financial advisor and arranger on the transaction, supporting structuring, investor engagement, and execution. The transaction establishes a foundation for further institutional capital deployment into the business.

What is coming next will expose a hard truth: many people called “product leaders” today are not leading products at all.

They are coordinating tasks.

The Comfort Era Is Ending

African startups grew under extreme conditions. Speed was survival. Shipping was celebrated. Questioning direction was seen as slowing things down.

That environment created a generation of product managers trained to execute, not to think.

By 2026, that model will break.

As companies mature, funding becomes harder, and competition increases, founders and investors will demand clarity. Not effort. Not active. Clarity.

Product leaders will be asked uncomfortable questions:

• Why are we building this?
• Who exactly is this for?
• What happens if we do nothing?

Many will not have answers.

“Local Context” Will No Longer Excuse Weak Strategy

There is a phrase we use too often in African tech: our market is different. Sometimes it is true. Too often, it is a shield.

By 2026, local context will still matter, but it will no longer excuse:

• Undefined success metrics
• Vague product vision
• Endless iteration without learning

Strong product leadership means translating context into strategy. If a PM cannot explain how culture, infrastructure, or regulation changes the product direction, they are not leading. They are guessing.

2026 Will Reward Decision-Makers, Not Facilitators

Today, many product managers are praised for being “good collaborators.” That will not be enough.

In 2026, African product leaders will be measured by their willingness to make hard calls. That includes:

• Killing features that feel good but deliver no value
• Delaying expansion into markets the company is not ready for
• Saying no to founders, clients, and investors when necessary

The PM who waits for consensus will become irrelevant.

AI Will Expose Weak Product Leadership Faster Than Anything Else

AI is not the future. It is already here. By 2026, it will remove excuses.

AI will automate planning, analysis, and reporting. What it cannot automate is judgment. This is where many product leaders will be exposed.

When AI provides ten possible insights, the real leader will know which one matters. When dashboards look promising, but reality disagrees, leadership will show in who challenges the data.

Product leaders who rely on AI without thinking will build faster failures.

African Startups Will Separate Leaders from Coordinators

Some companies already understand this shift.

Paystack did not win by shipping the most features. It won by being obsessively clear about trust, reliability, and merchant experience.

Moniepoint grew by making deliberate product bets rooted in operational reality, not trend-chasing.

MAX learned, painfully, that scaling operations without strong product leadership creates chaos.

By 2026, more companies will learn these lessons, but at a higher cost.

The Real Question for 2026

The most important question African product managers should ask themselves is not, “Am I busy?”

It is, “If this product fails, will I be able to clearly explain why?”

Product leadership is not about protecting the roadmap. It is about protecting the company from wasted effort.

A Hard Prediction

By 2026, African tech companies will have fewer product managers and stronger product leaders.

Those who cannot think strategically, defend decisions, and own outcomes will be replaced. Not by AI, but by people willing to lead.

The title “Product Manager” will stop being impressive.

Product leadership will have to be earned.

Over the years, the electric car market has grown significantly, and the benefits of electric cars have become more apparent than ever before.

The electric car market

The electric car market has grown exponentially in recent years. According to a report by the International Energy Agency (IEA), compared to just 130,000 electric cars sold in 2012, the global electric car stock reached 2.2 million vehicles in 2019 and reached 10 million in 2020, a 43% increase compared to the previous year and projected growth of 36% annually, reaching 245 million vehicles in 2030. China, Europe and the United States are the three largest markets for electric cars, with China being the largest producer and consumer of electric vehicles.

More than 1 million electric cars were sold in China in 2019, a 2% decrease from the previous year. Europe was the second largest market, with 561,000 cars sold in 2019. The United States followed with 327,000 cars sold.

In 2021, electric car sales more than doubled to 6.6 million, representing close to 9% of the global car market and more than tripling their market share from two years earlier.

The benefits of electric vehicles

Electric vehicles have several advantages over traditional gasoline-powered vehicles. Firstly, electric cars have lower fuel costs as they use electricity instead of gasoline. This means that they are cheaper to operate, and as electricity prices continue to decrease, the cost of operating an electric car will decrease as well. 

Secondly, electric cars have lower maintenance costs as they have fewer moving parts than gasoline-powered cars. This means that fewer parts can break down and need to be replaced. Electric cars can be more enjoyable to drive, with instant torque and smooth acceleration, and can offer a quieter and more comfortable ride than traditional cars.

Finally, electric cars are better for the environment as they produce zero emissions. This makes them a great option for consumers who are looking for a sustainable mode of transportation.

Successful electric car startups

Several startups have emerged in the electric car market, and some have been incredibly successful. Tesla is perhaps the most well-known electric car company, with a market capitalization of over $500 billion. The company has been a leader in the industry since its founding in 2003, with a focus on high-performance electric vehicles, coupled with its innovative battery technology, that has helped it dominate the luxury electric car market. Tesla’s Model S was the first electric car to achieve a range of more than 300 miles on a single charge, and the company’s Supercharger network has made long-distance electric travel a reality.

Rivian is an American electric car startup that has raised over $12 billion in funding. The company has developed an electric pickup truck and an electric SUV. The vehicles are designed for off-road adventures, with impressive range and towing capacity.

Rivian has secured investments from major companies such as Amazon and Ford, which have contributed to the company scaling up its production and expanding its product line.

Lucid Motors is another American electric car startup that has gained attention in recent years. The company has developed the Lucid Air, an electric car with a range of over 500 miles. 

NIO is a Chinese electric car startup that has gained a significant market share in China. The company has developed several electric cars, including the ES8, which is a seven-seater SUV. The ES8 has been a massive success in China, with the company selling over 20,000 units in the first year of production and has also expanded into the European market.

BYD Auto, a Chinese company that has become a leader in the electric car market thanks to its innovative battery technology. The company’s Qin hybrid and e6 electric cars are both popular with consumers, and the company has been expanding rapidly in recent years.

Startups focused on Electric Vehicles in Nigeria

Although the electric car market is still in its early stages in Nigeria, there are a few electric car startups that have emerged in the country in recent years. Here are some of the notable electric car startups in Nigeria:

MAX: Launched in 2015 as a logistics company, MAX pivoted to motorcycle ride-hailing in 2017. A government ban on commercial motorcycles forced a pivot to EV infrastructure in 2021. MAX raised $31 million to expand its market reach, provide vehicle-financing loans, and build EV infrastructure in its new markets. The company believes EV adoption in Africa will happen faster than in most parts of the world, but industry advocates are skeptical.

Jet Motor Company: Jet Motor Company is a Nigerian electric car startup that is focused on developing affordable electric cars for the Nigerian market. The company’s first product is the Jet Mover, an electric car that can travel up to 300 km on a single charge and has a top speed of 120 km/h.

Africar Group: Africar Group is a Nigerian electric car startup that is focused on providing electric mobility solutions for both individuals and businesses in Nigeria. The company offers a range of electric cars, including sedans, SUVs, and buses, and provides charging infrastructure and maintenance services for its customers.

NEVA: NEVA (Nigerian Electric Vehicle Assembling Company) is a Nigerian electric car startup that is focused on assembling electric cars in Nigeria using imported kits. The company’s first product is the EV e1, an electric car that can travel up to 150 km on a single charge and has a top speed of 100 km/h.

Conclusion

Electric cars have emerged as a viable solution to tackle the issues of climate change, air pollution, and the depletion of natural resources. With their numerous benefits, including zero emissions, lower operating costs, and a quieter driving experience, it’s easy to see why more and more drivers are making the switch.

The startup’s target has started coming into play following its entry into the Ghanaian market and appointment of David Hoyme as Director of International Growth and Expansion.

MAX seeks to decentralise its urban mobility solution across Africa and then the world. 

According to Tolu Williams, Head of E-mobility at MAX, the official rollout in Ghana is a necessary step on the mission to address the perennial problems around urban and rural mobility across the African continent.

A notable attribute of MAX is its zeal to reduce global warming, ensuring the planet is in good health and the environment is greener by reducing carbon emission that goes into the earth’s atmosphere. The startup has developed Electric Vehicles in Africa as an eco-friendly and equally effective means of mobility.

The company works with transport operators in the informal sector, delivering increased income generation, financial inclusion, access to high-quality vehicles, training, support services, insurance, healthcare, emergency response and other value-added services all aimed at empowering them.

Speaking further on MAX’s commitment, Tolu Williams said: “A lot of the problems we face today as a continent are rooted in mobility. We believe that the future of innovation and sustainable growth in Africa will rest on access to sectors like education, health, and finance, all driven by mobility. This is why we are committing significant resources and establishing long-term partnerships with some of the world’s biggest vehicle manufacturers to bring sustainable mobility solutions to people in urban and rural areas.” 

MAX affirms to have made over 17 million trips, operates in seven cities, have covered over 150 million kilometres with an average annual driver revenue of $5,000.

The covid-19 pandemic boosted online purchases, simultaneously increasing the need for logistics and delivery startups. 

Entrepreneurs and corporate companies need to send supplies to customers conveniently and customers need to receive goods seamlessly. Startups working to ensure efficiency and effectiveness in logistics and delivery services are highlighted below:

1. GIG Logistics

GIG Logistics allows you send, track and receive goods with its seamless delivery service. The platform also allows shipping of goods from the UK and US to Nigeria and Ghana, as well as export to over 230 locations worldwide, with intra & inter-state delivery services.

The company efficiently handles deliveries for large corporations and deploys innovative delivery solutions for small businesses, domestic and e-commerce logistics, freight forwarding, haulage, warehousing, distribution, mailroom services and much more are included in its offerings.

2. Kobo360

With branches across Nigeria, Ghana, Ivory Coast, Kenya, Uganda and Burkina Faso, digital logistics startup Kobo360 aggregates end-to-end haulage operations. 

Since its inception in 2017, Kobo360 raised total funding of $37.3 million and is backed by investors including Goldman Sachs, International Finance Corporation, YCombinator, Asia Africa Investment and Consulting, TLcom, among others.

The company leverages big data and technology to reduce logistics frictions, empowering rural farmers to earn more by reducing farm wastages and helping manufacturers of all sizes to find new markets.

3. CourierPlus Services Limited

Focused on courier same-day delivery service, logistics for both individuals and corporate organisations, e-commerce, international express, specialised and custom solutions services, CourierPlus boasts of its speed and reliability. 

On a mission to ensure seamlessness in delivery and logistics services, CourierPlus has its core values to include customer-centricity, innovation, dynamism, excellence, integrity and community.

4. Gokada

Last mile courier delivery solutions company, Gokada launched in 2018 as a ride-hailing company in Nigeria and later included logistics; Gsend and food delivery services; GShop, to its service offerings. 

The company has raised $14.24 million on-demand motorcycle taxi service in order to solve some of Nigeria’s challenging problems in logistics and transportation.

5. Kwik Delivery

For individuals and businesses, Kwik Delivery’s user-friendly interface helps users manage parcels seamlessly. From small to large goods, Kwik Delivery’s got you.

The Lagos-based delivery company raised $1.7 million pre-Series A investment and has a total funding amount of $2.2 million from Rising Tide Africa Limited, Thorburn Investments Nigeria, UFP Fintech, Stefano Piotti, Yves Guillemot and several others.

6. MAX

Nigeria’s MAX has built two products to make logistics and delivery services all that customers want them to be. The MAX Go product offers everything transport operators would need to connect to customers in need of a ride, while the MAX Now product connects businesses and enterprises to needed delivery services.

MAX is the first company to design and customize electric vehicles, driving its adoption at scale for public transportation.

7.  African Courier Express 

Popularly known as ACE, African Courier Express is one of the logistics and delivery startups providing services to businesses and individuals.

The company has raised $3.3 million from investors such as Interswitch, Savannah Fund, EchoVC Partners and others. The tech-enabled logistics company has partnered with major e-commerce retailers to offer affordable and reliable movement of consumer packages across Africa.

8. Sendbox 

For local and international deliveries, Sendbox is available. Beyond this, the company also focuses on e-commerce and bill payments, helps companies increase visibility and grow sales, both online and offline, ultimately increasing income and optimising utilities.

Operating in over 200 countries, including Nigeria, the United States, Canada and the United Kingdom, Sendbox has reached over 10,000 merchants through iOS, Android, web, WhatsApp, Facebook, Instagram, other e-commerce platforms and developer APIs and asserts to have made over 200,000 deliveries since inception, 35%-40% being international.

9. SEND

Expanding beyond inland logistics, SEND operates in air and ocean freight, with adequate compliance to relevant regulations. 

The company manages the entire process of shipping cargo via Air and Ocean, from suppliers around the world to your destination, takes charge of customs clearance, trucking and warehousing and has raised total funding of $150,000 from YCombinator, Ventures Platform, Uncovered Fund and others.

10. TruQ

TruQ is an on-demand platform for all your moving and delivery needs, connecting people to the closest truck/van driver, smart, fast and easy.

The company’s partners include Taeillo, BuildDirect, Providus Bank, Car45, Stova Industries Limited, Kalvie and several others.

Last year, the 24-hour logistics service provider launched a web and mobile app to facilitate even more absolute delivery services across Nigeria.

11. ShapShap

Focused on making deliveries efficient, sustainable and scalable, ShapShap leverages a commission-based marketplace to provide on-demand delivery services across Nigeria.

The company carries out online ordering and same-day delivery of food, groceries, medicines, and packages with its mobile application which allows live tracking.

12. Errand360

Interestingly, Errand360 utilises bicycles and e-bikes to carry out its quick short errands and affordable delivery services, targeted at promoting eco-friendliness.

In March 2021, Errand360 was launched as the first Bicycle Community Delivery hub in Nigeria. The company offers services such as food deliveries, pharmaceutical product delivery, grocery purchase and delivery, document dispatch within the city, short errands, long errands, and messenger’s tasks.

13. Lori Systems

On a mission to ensure a decline in the cost of moving and delivering goods in Africa’s frontier markets, Lori Systems was built to enable the logistics space operate at an order of magnitude more efficiently and affordably than it does today.

The company’s benefits include increased brand visibility, quicker turnaround through proactive systems/data capture leading to more money, automatic and accurate invoicing, tracking, reliability, access to financing, among others.

14. Sendy

Kenyan logistics startup, Sendy is an on-demand platform that connects clients to drivers and vehicles for goods delivery.

Back by Toyota, Sendy has offices in Kenya, Tanzania and Uganda, with 5,000 vehicles on its platform, leverage for the movement of different types of goods. Its asset-free model inbuilt in its app allows the coordination of contract drivers who own their vehicles, while confirming deliveries, creating performance metrics and managing payment.

15. Moove

Asides the provision of revenue-based vehicle financing for mobility entrepreneurs in Africa, mobility fintech Moove Africa has an array of dispatch bikes for delivery services.

Having raised $23 million in Series A to scale operations across the African continent, Moove has made a fast growth from inception in 2019 till now.