African Electric Logistics Company Bisedge has acquired debt financing of €10 million ($11.2 million) from Finnfund, Finland’s development finance agency, to grow its electric industrial equipment activities in Africa.
Finnfund’s first electric car finance arrangement in Africa kicks off a strategic cooperation with Swedish impact investing platform Trine.
The funds will go toward Bisedge’s expansion of electric forklift fleets in Nigeria, Kenya, and Tanzania, assisting businesses in transitioning from diesel-powered equipment to greener alternatives.
Bisedge, founded in Lagos in 2020 and now located in Mauritius, offers electric material-handling equipment and logistics services to enterprises in manufacturing, warehousing, and distribution.
The company uses a Zero Capital Expenditure (Zero CapEx) model, which allows customers to acquire forklifts, warehouse tractors, and other industrial equipment via periodic payments rather than acquiring them entirely.
Bisedge controls equipment maintenance, fleet management, and performance under this agreement, lowering the initial costs for firms that adopt electric technology.
Bisedge is the exclusive African partner of German equipment manufacturer Linde Material Handling in nine markets. Approximately 95% of its equipment fleet is electric, and the operational network serves over 1,350 personnel.
The fresh financing comes after Metier, a pan-African private equity firm, invested $20 million in the company in May 2026.
Trine, which has been supporting Bisedge since 2021, had already provided around €16.5 million in financing to assist the company grow its activities.
The new investment is also supported by the European Union’s EDFI Renewable Energy Transition program, which offers guaranties to stimulate investment in clean energy projects in emerging economies.
According to environmental estimates given by Finnfund, replacing diesel forklifts with electric alternatives in Nigeria could reduce carbon emissions by about 37 tons per forklift each year.
Despite rising demand for sustainable logistics, African firms continue to confront problems such as high equipment costs, insufficient funding, and poor supporting infrastructure.
Bisedge intends to overcome these constraints by making electric industrial equipment more accessible through its subscription-based service model.
This investment highlights strong institutional backing for Africa’s green logistics and transport industries, enabling Bisedge to speed up the rollout of electric equipment region-wide.
