The World Bank’s private sector investment arm, International Finance Corporation (IFC), plans to make an equity investment of up to $5 million (Sh645 million) in e-mobility provider Arc Ride, which is eyeing regional expansion.
IFC said Arc Ride is in the market for its Series A financing round to fund expansion and growth, but did not disclose the size of stake it will be taking up in the e-mobility company founded in 2020.
