Africa’s electric mobility startups have raised $1.28 billion since 2019, and the way that money now arrives has changed. Debt funds a third of the sector, capital is consolidating into a few large rounds, and H1 2026 has already out-raised all of 2025. Drawing on TC Insights’ Deal Tracker of about 129 disclosed deals across 17 markets and primary interviews with Spiro and Novastar Ventures, this brief argues that the sector has crossed from venture bet to infrastructure asset class, and sets out what that means for founders, investors and the riders who depend on it.