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Kenya and the rest of Africa could see a surge in green technology investment after a South African electric vehicle firm agreed to merge with a US-listed company, opening its shares to US investors.
The deal between Agility and Media Sentiment Inc. is expected to close on July 31. The merged entity will be renamed Agility Inc.
Under the agreement, Agility shareholders will control 95 percent of the combined company, while existing Media Sentiment shareholders will retain five percent.
The leadership will remain unchanged, with Irina Veselinovic remaining as chief executive.
Media Sentiment's share price increased by more than 100 percent within two trading days of the announcement, reflecting strong investor interest.
The US listing is expected to open up access to global institutional capital, which could support expansion into African markets, including Kenya, where Agility is operating from 2023.
The company has also signed a deal to supply 40,000 electric scooters to its markets including Kenya.
The development comes as the Ministry of Roads and Transport launched the National Electric Mobility Policy in February 2026, indicating increased government support for the sector.
Kenya had registered more than 35,000 electric vehicles by 2025, with EV charging revenue increasing from Sh64.8 million to Sh190.8 million in 2024.
Upon completion of the transaction, both the existing South African entity and the US firm will cease to exist, with the merged company becoming the surviving entity.