Kenya electric mobility set for boost as African EV firm eyes US listing

Agilitee targets US listing to expand its African operations. [Courtesy]

Kenya's electric mobility sector could gain fresh financing and faster rollout after an African electric vehicle maker said it will list in the United States through a reverse merger expected in 2026.

Agilitee, a South African electric vehicle and green technology firm, will merge with US-listed Media Sentiment Inc., with the combined entity to be rebranded Agilitee Inc.

The transaction is expected to close by July 31, 2026.

Under the agreement, Agilitee shareholders will own 95 per cent of the combined entity, with existing Media Sentiment shareholders retaining five per cent.

The merger will enable Agilitee to list on a US stock exchange, making it one of the first African electric vehicle and green technology firms to access global capital markets through such a structure.

The firm plans to inject assets valued at about $4 billion into the listed entity, underscoring its growth ambitions in electric mobility, artificial intelligence and green technologies. Agilitee has also relocated its headquarters to Miami, positioning itself closer to global investors.

Investor appetite for the deal was evident early, with Media Sentiment's share price surging more than 100 per cent within two trading days of the announcement.

The company said leadership will remain unchanged, with Irina Veselinovic continuing as chief executive of the merged entity.

Upon completion, both the current South African entity and the US firm will cease to exist, with the merged company becoming the surviving entity.

Agilitee also plans to pursue an uplisting and a secondary listing on the Johannesburg Stock Exchange.

Founded in 2018, Agilitee focuses on the development, manufacturing and distribution of electric vehicles alongside charging infrastructure and related technologies, positioning itself as an alternative to fossil fuel dependence across the continent.

The company has previously entered agreements to supply electric scooters across several African markets, including Kenya and Nigeria, targeting last-mile mobility and logistics demand.