In recent decades, the US-Africa economic relationship has evolved from aid to trade and is currently focused on investments, signaling a shift in perspective and a growing interest in African opportunities.
In the wake of the US-Africa Leaders Summit in December 2022, President Biden initiated an exceptional year of engagement with Africa, achieving significant milestones and delivering on commitments made during the Summit.
The current administration has surpassed its commitment to invest $55 billion in Africa over three years, marking a profound dedication to the continent.
Large-scale infrastructure projects in Africa have become particularly appealing to U.S. institutional investors, offering the potential for long-term returns and significant social and economic impact.
These projects, especially in transportation, energy, water, and telecommunications, require substantial funding to address Africa’s infrastructure financing gap. Public-private partnerships (PPPs) are deemed essential to bridge the infrastructure financing gap in Africa, with an estimated $130 to $170 billion required annually for development.
Addressing this gap would yield significant social and economic benefits, including enhanced access to jobs, education, and banking services. Moreover, the energy sector, with its abundant renewable resources, offers substantial opportunities for US institutional investment to enable Africa’s transition into a green energy powerhouse.
Among the companies focused on solutions that enable Africa to upgrade its infrastructure is Surf Air Mobility Inc. (NYSE:SRFM), a Los-Angeles-based regional air mobility platform transforming regional flying through electrification.
Surf Air Mobility, which is the largest commuter airline in the US based on scheduled departures, is developing revolutionary new technology to upgrade the widely popular Cessna Grand Caravan aircraft with fully electric and hybrid-electric engines for passenger air travel.
Surf Air Mobility to Supply Electric Powertrains to Kenyan Operators
On January 17, Surf Air Mobility signed an agreement with Z.Boskovic Air Charters Ltd, a prominent name in Kenya’s private charter, safari, freight, and corporate travel sector. Surf Air will be integrating its cutting-edge electrified powertrain technology into Z.Boskovic’s existing and future Cessna Caravan fleet once certified.
Z.Boskovic currently operates a fleet of 13 Cessna Caravans, positioning them as Kenya’s leading charter operator for this aircraft model, and has plans to expand its fleet of Caravan aircraft this year.
This collaboration marks yet another stride in Surf Air Mobility‘s ongoing efforts to broaden the reach of its innovative electrified powertrain technology.
Surf Air Mobility’s electric and hybrid powertrains aim to cut emissions by 100% and 50%, respectively. Z.Boskovic, a leading Kenyan safari operator, is dedicated to environmental conservation. By significantly reducing their Caravan fleet’s carbon footprint, they aim to better safeguard Kenya’s ecosystems and wildlife.
This agreement follows other recent deals between Surf Air Mobility and prominent Kenyan Cessna Caravan operators, Safarilink and Yellow Wings, to provide electric powertrains for their aircraft as well.
These partnerships support SafariLink and Yellow Wings’ ambitious target to transition to all-electric operations by 2027, contributing to the promotion of air travel sustainability in Africa. Kenya stands out as a leader in the regional air mobility market, making these collaborations significant steps towards advancing the adoption of electrified aviation technologies.
Surf Air Mobility Inc. (NYSE:SRFM) is actively working on obtaining Supplemental Type Certification for both hybrid and fully-electric versions of the Cessna Grand Caravan. The targeted impact includes potential reductions of up to 50% in direct operating costs and achieving a 100% cut in carbon emissions for the fully-electric powertrain. Surf Air believes that the implications of this technology can be transformative for regional aviation on a global scale.
This collaboration positions Z.Boskovic, Safarilink, and Yellow Wings as trailblazers in adopting green technologies crucial for a more environmentally friendly and quieter future in regional transportation, particularly significant for the conservation of Kenyan wildlife. It also aligns with the Kenyan government’s recent commitment to shift away from fossil fuels to renewable energy sources by 2030.
Safarilink has highlighted their dedication to protecting the environment in their operational areas, and have stated that adopting Surf Air Mobility‘s electric powertrain technology has the potential to lower noise and climate impact, enhancing global visitors’ experience of the local ecosystem.
Yellow Wings has stressed their support for alternative air travel propulsion, and has stated that Kenya, with its 91% carbon-free power generation, is the perfect leader for this initiative.
The collaboration between Surf Air Mobility, Safarilink, Yellow Wings, and Z.Boskovic could hold promise for transforming regional aviation in Kenya and East Africa by showcasing the viability and impact of electrified Caravans on the industry.
Click on this link or read their corporate presentation to learn more about Surf Air Mobility Inc. (NYSE:SRFM).
Featured Image @ FreePik
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1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies outlined in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.
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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Surf Air Mobility Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Surf Air Mobility Inc.’s industry; (b) market opportunity; (c) Surf Air Mobility Inc.’s business plans and strategies; (d) services that Surf Air Mobility Inc. intends to offer; (e) Surf Air Mobility Inc.’s milestone projections and targets; (f) Surf Air Mobility Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Surf Air Mobility Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Surf Air Mobility Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Surf Air Mobility Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Surf Air Mobility Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) the accuracy of budgeted costs and expenditures; (e) Surf Air Mobility Inc.’s ability to attract and retain skilled personnel; (f) political and regulatory stability; (g) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (h) changes in applicable legislation; (i) stability in financial and capital markets; and (j) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Surf Air Mobility Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Surf Air Mobility Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Surf Air Mobility Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Surf Air Mobility Inc.’s business operations (e) Surf Air Mobility Inc. may be unable to implement its growth strategy; and (f) increased competition.
Except as required by law, Surf Air Mobility Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Surf Air Mobility Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Surf Air Mobility Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Surf Air Mobility Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Surf Air Mobility Inc. or such entities and are not necessarily indicative of future performance of Surf Air Mobility Inc. or such entities.
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