African electric vehicle firm bets on innovation with US stock listing

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Kenya and the rest of Africa could see increased green technology investment after a South African electric vehicle firm agreed to merge with a US-listed company, opening its shares to American investors.

The deal between Agilitee and Media Sentiment Inc. is expected to close on July 31. The merged entity will be rebranded Agilitee Inc.

Under the agreement, Agilitee shareholders will control 95 per cent of the combined company, while existing Media Sentiment shareholders will retain five per cent.

Leadership will remain unchanged, with Irina Veselinovic continuing as chief executive.

Media Sentiment’s share price surged by more than 100 per cent within two trading days of the announcement, reflecting strong investor interest.

The US listing is expected to unlock access to global institutional capital, which could support expansion across African markets, including Kenya, where Agilitee has operated since 2023.

The company has also signed a deal to supply 40,000 electric scooters across its markets, including Kenya.

The development comes as the Ministry of Roads and Transport launched the National Electric Mobility Policy in February 2026, signalling growing government support for the sector.

Kenya had registered more than 35,000 electric vehicles as of 2025, with EV charging revenue rising to Sh190.8 million from Sh64.8 million in 2024.

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