Credits: Mobius Motors
Kenyan-based Mobius Motors has been acquired by Middle-East based investment firm, Silver Box. With this move, the automaker company, famous for its rugged vehicles designed to tread Africa’s rough terrain, has received a huge lifeline amidst the financial storms threatening to shut it down.
British entrepreneur, Joel Jackson founded Mobius Motors in 2010 with the aim of creating affordable and durable vehicles for the African market. Although, Mobius vehicles, especially the latest Mobius III model, have garnered attention for their exquisite designs and relatively lower prices when compared to foreign SUVs, the company still struggles to keep its head above water.
According to revealed financial documents, Mobius had been able to eliminate short-term liabilities by September 2024, making it “debt-free”, the company still suffers from long-term liabilities of over £13 million. Balance sheets show that while fixed assets, including its Nairobi production facility, remained robust at over £24 million, current assets (readily available cash and inventory ) had reduced to a mere £8,876, down from £24,827 the previous year.
Even with this, Mobius keeps a positive net asset position of nearly £11 million, alongside its tangible assets and ongoing contracts. This value seems to have been an alluring factor in attracting Silver Box’s interest. The existing partnership between Mobius and Chinese automaker BAIC, which facilitated the launch of the Mobius III, also presents a valuable platform for future product development and technological transfer under the new ownership.
After it announced the acquisition, Silver Box ushered a leadership change at Mobius. Described as possessing “extensive expertise in manufacturing, operations, and Customer Service“, John Kavila has been placed at the head of the new administration, appointed as Chief Operating Office (COO). Kavila approaches the job enthusiastically, stating that he is honoured to lead “a company renowned for its bold and innovative approach in creating a truly unique Kenyan brand“.
He went further to promise to build on Mobius’s existing foundation, while “expanding market share and increasing accessibility for Kenyan consumers”. Kavila also highlighted the importance of “preserving and enhancing” the Mobius brand, signaling a commitment to maintaining the company’s core identity and mission.
The Outgoing CEO, Nicolas Guibert, who oversaw Mobius’s operations during its period of crisis, expressed confidence in Silver Box’s vision. In a statement, Guibert lauded Silver Box’s offer as “the best choice” among three bids, emphasizing their commitment to “ensuring the continuity of Mobius” and driving its future growth.
Silver Box boasts of being a specialist in “driving businesses forward through intelligent investment, expert corporate management and advance technology”. In a press conference, the company declared that the acquisition opened a “bold new chapter” for both Mobius and Kenya’s automotive industry. The Middle Eastern company also announced the reopening of Mobius’s service center, scheduling full production of the Mobius 3 model for July 2025. It also plans to launch as new 4×4 off-road SUV model by December 2025.
Mobius Motors gained a reputation in the Kenyan automotive market for being that brand that offers vehicles designed to withstand demanding conditions at cheaper prices. This has made Mobius vehicles attractive to small and medium-sized enterprises (SMEs) in sectors such as agriculture, infrastructure, and supply chains operating in remote areas of Kenya and potentially across the East African region.
