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LOBO EV TECHNOLOGIES LTD. ("LOBO" or the "Company") (NASDAQ:LOBO), a cutting-edge electric mobility products manufacturer, today announced its strategic plans in collaboration with World Business Group (Earthcore Investments Limited), a company registered under the laws of Ghana.
Under the LoI signed among LOBO, Earthcore and Strattners Bank, three parties plan to support the development of a first-phase CyberCity in Ghana, including a state-of-the-art EV manufacturing facility (e-motorcycle, tricycles and other models of transportation vehicles) and a digital banking headquarters designed to operate stablecoins, cryptocurrencies, digital credit services, and mobile money transfer systems. This initiative is expected to position Ghana as a leading hub for digital finance and innovative EV manufacturing in Africa. In 2024, the combined value of mobile-money and stable-coin payments in Africa reached roughly US$1.13–1.15 trillion. Mobile money dominates the landscape, while stable-coin payments—though far smaller in volume—are expanding rapidly; authoritative sources estimate that total African stable-coin transaction volume in 2024 stood between US$30 billion and US$50 billion. Furthermore, local governments in some African countries are introducing subsidies and infrastructure support to promote e-bike and e-motorcycle use. Adoption of e-bikes and e-motorcycles is accelerating across Africa. The e-motorcycle market in Africa is expected to grow at a compound annual growth rate (CAGR) of over 15% in the next five years.
Posted In: LOBO
