Electric mobility firm Roam has emerged as the highest-ranked e-mobility company in Africa and the top-performing Kenyan company on the latest Financial Times list of Africa’s fastest-growing firms.
Roam, based in Nairobi, posted an 86.4 percent compound annual growth rate (CAGR) and a 547.8 percent jump in revenue between 2020 and 2023.
This placed the company 35th overall on the continent, ahead of 10 other Kenyan firms on the list, including its partners M-KOPA and Quickmart.
“This recognition is not just a milestone for Roam, it’s a moment of pride for Kenya,” said Habib Lukaya, the firm’s Field Operations Manager.
“It proves that local manufacturing can thrive, creating jobs and delivering affordable, high-quality electric motorcycles made in Kenya, for Africa.”
Roam’s continued growth stands out at a time when many African tech startups are struggling with reduced venture capital and global economic headwinds.
Founded in 2017, Roam designs and manufactures electric motorcycles and buses tailored for the African market. The company operates Roam Hubs battery charging and swapping stations in Nairobi, Kiambu, and Machakos.
It also partners with Uber, Bolt, and the Mastercard Foundation to expand electric mobility access for boda boda riders.
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In a major milestone, Roam recently completed a 6,000-kilometre all-electric road trip from Nairobi to Stellenbosch in South Africa to showcase the durability of locally built EV technology.
Roam’s inclusion in the FT rankings puts Kenya a top amongst growing influence in climate tech, green mobility, and advanced manufacturing, as the country trailed only South Africa and Nigeria in the number of firms represented on the list.
