Podcast Summary: The Entrepreneurs – Eureka: Charging Ahead with Ghana’s First E-Bike Maker

Episode Details

• Podcast: The Entrepreneurs (Monocle)
• Host: Tom Edwards
• Guest: Valerie Labi, Co-founder and CEO of Wahu Mobility
• Date: July 25, 2025
• Theme: The rapid rise of Ghana’s first electric bike manufacturer, its innovation journey, and the future of mobility in Africa.

Episode Overview

This episode features Valerie Labi, co-founder of Wahu Mobility—Ghana's pioneering e-bike company. Valerie discusses the origin of Wahu Mobility, its mission to bridge Africa's connectivity gap, the challenges faced in establishing a hardware-driven startup in a region typically reliant on older petrol vehicles, and the company's ambition to scale sustainably across Africa. The conversation explores startups, infrastructure, impact investing, and the cultural significance of their work, all shared through Valerie’s candid, visionary storytelling.

Key Discussion Points & Insights

1. The Problem: Bridging Africa’s Connectivity Gap

• Initial Insight & Inspiration

  • Valerie describes witnessing women in Ghana’s north carrying goods on their heads, which highlighted inefficiencies in African transportation and a lack of productivity.
  • "There is a connectivity gap on the continent… Could we just move goods and people better?" (Valerie, 01:07)

• Observations During the Pandemic

  • Pandemic revealed the last-mile delivery gap as global, with African riders turning to services like Bolt and Uber.
  • Valerie realized the "last mile mobility play" in Africa shouldn't be fulfilled by polluting, petrol vehicles.

2. The Launch: From Bicycle Conversions to Full-Scale E-Bike Production

• Starting Small, Scaling Fast

  • Began by converting secondhand bicycles to electric, deploying them in rural and urban areas.
  • Established the first e-bike factory in Ghana for local production—initially a challenge due to absent EV infrastructure.
  • "In African markets, there aren’t places where you could go and actually get EVs. There wasn’t production at the time, this was around 2022." (Valerie, 02:19)

• Addressing Affordability and Access

  • Many delivery riders lack access to bank finance—interest rates around 30%, collateral requirements at 120%.
  • Developed a subscription plan with daily/weekly payments to make e-bikes accessible to riders.

3. Building an Ecosystem: Data, Finance, Partnerships, and Carbon Markets

• Data-Driven Growth

  • Monitored real rider usage to gather evidence, understand rider needs, and attract partners.
  • "Everything’s about evidence. When you think of African markets, there is this perception of risk that has been created by a lack of data." (Valerie, 05:17)

• Innovative Financing

  • By gathering telematics and payment data, could offer proof to financiers and insurance partners, breaking through initial skepticism.

• Carbon Market Integration

  • Used telematics to measure carbon savings, unlocking carbon market agreements—creating environmental as well as economic impact.

4. Beating the Odds: Raising Capital as a Diverse Founder

• Skepticism and Breaking Barriers
  • Faced investor skepticism, often due to lack of representation:
    • "There is no precedent for African women in automotive... he just didn’t believe I could do it because no one like me has ever done it. And I think that lit a bit of a fire." (Valerie, 06:35)

5. Valerie Labi’s Story: From Diaspora to African Entrepreneur

• Personal Background

  • Born and raised in the UK to Ghanaian parents, blending British and Ghanaian perspectives.
  • Studied economics at Cambridge (master’s in sustainability leadership).
  • Early career at EY; pivoted to Ghana during the 2008 financial crisis and stayed to find business opportunities in local problems.

• Business Philosophy

  • "A lot of the things that people see as problems on the continent are huge commercial opportunities." (Valerie, 08:20)
  • Emphasizes learning through immersion and building diverse, specialized teams.

6. Scaling Up: Numbers and Future Ambitions

• Funding & Production Scale

  • Initial seed grant via Impact Hub Accra and Siemens Foundation.
  • Closed equity round enabling factory production: capacity for 20,000 e-bikes annually.
  • Next goal: raise $100 million to expand to a multi-vehicle EV zone, add 2- and 3-wheelers, and grow charging infrastructure.

• A Data Advantage

  • Over 3.3 million kilometers ridden by Wahu bikes last year, providing powerful usage and performance data for scaling.

7. Leapfrogging Traditional Infrastructure

• Energy & Infrastructure Innovation

  • Skepticism about Africa’s readiness for EVs echoes concerns once held about mobile money.
  • Economic rationale: fuel prices in Ghana/Nigeria up 300% in 24 months—making EVs attractive.
  • Solar and decentralized power allow leapfrogging over traditional grid limitations.
  • Wahu’s platform aggregates large and micro-energy providers to support on-grid and off-grid charging.

• "It makes economic sense to make the transition. So it's very like bottom up. People are ready to make that change." (Valerie, 12:28)

8. International Expansion & Flexibility

• Approach to New Markets
  • Focuses on evidence, rider financing, and adaptable partnerships.
  • "Every market we go into, there will be proof points around those three actors: people, hardware, and financing." (Valerie, 13:53)

9. The Meaning of "Wahu"

• Multiple Layers of Significance
  • In northern Ghana: means "horse"—symbolizing mobility.
  • In southern Ghana, "Wahu" translates to "Have you seen this?"—a nod to innovation.
  • Evokes excitement, joy, and positive energy—"the vibe that you feel when you're riding e-bikes through the streets of Accra." (Valerie, 15:07)
  • Encourages enjoyment and passion in work and daily life.

Notable Quotes & Memorable Moments

• "I really didn’t want [last-mile delivery] to be fulfilled by petrol vehicles. What could be a simple vehicle that could be good for delivery, produced locally, and bridge the gap?"
  — Valerie Labi, 01:33

• "It slowly escalated from… a lady carrying something on her head to all the way building out this ecosystem, and it’s happened quite naturally."
  — Valerie Labi, 03:59

• "Most investments you see on the continent now are very heavily on the digital side and very light on the capex-intensive actual physical things you can touch, feel, and ride."
  — Valerie Labi, 06:06

• "Businesses won’t thrive without being meaningful and deliberate about building out… financial impact, lacing in those three lenses [environmental, social, economic]."
  — Valerie Labi, 08:03

• "Petrol prices in Ghana, Nigeria increased 300% in the last 24 months. It makes economic sense to make the transition."
  — Valerie Labi, 12:28

• "Wahu… is the energy and the vibe you feel when you’re riding e-bikes through the streets of Accra. People forget… just to enjoy themselves."
  — Valerie Labi, 15:07

Timestamps for Key Segments

• [01:03] Valerie’s inspiration and the vision behind Wahu Mobility
• [02:19] Early challenges and setting up Ghana’s first e-bike factory
• [03:30] Business model innovations: financing, telematics, and insurance
• [05:15] Overcoming skepticism and building evidence with data
• [06:35] Facing doubts as a woman founder in African automotive
• [07:34] Valerie’s personal and professional background
• [09:46] Fundraising journey and production numbers
• [11:44] Leapfrogging traditional infrastructure
• [13:49] Navigating international expansion
• [14:49] The meaning and spirit behind the name "Wahu"

Summary

This episode offers an inspiring look at Wahu Mobility’s journey from a bold idea based on lived experience to a rapidly scaling African mobility company lauded for innovation in hardware, finance, and data-driven ecosystem building. Valerie Labi’s approach is deeply rooted in local realities with a global perspective, challenging stereotypes while harnessing the continent’s entrepreneurial potential. The discussion highlights the practical, cultural, and economic factors behind electric mobility’s potential in Africa—and why the next leap in transport could well be personified by a rider calling out, "Wahu!" as they zip through Accra’s streets.