Core Insights - LOBO EV Technologies Ltd. has announced a strategic collaboration with Earthcore Investments Limited and Strattners Bank to develop a CyberCity in Ghana, which will include an EV manufacturing facility and a digital banking headquarters [1][2][3] Group 1: Strategic Collaboration - The collaboration aims to establish a state-of-the-art EV manufacturing facility for e-motorcycles, tricycles, and other transportation vehicles, alongside a digital banking hub focused on stablecoins and cryptocurrencies [2][3] - The initiative is expected to position Ghana as a leading hub for digital finance and innovative EV manufacturing in Africa, with mobile-money and stable-coin payments in Africa reaching approximately US$1.13–1.15 trillion in 2024 [2][5] Group 2: Market Growth and Trends - The e-motorcycle market in Africa is projected to grow at a compound annual growth rate (CAGR) of over 15% over the next five years, driven by increasing adoption of e-bikes and e-motorcycles [2] - In 2024, remittances to Ghana reached $4.6 billion, a 91% increase from the previous year, indicating a strong financial ecosystem that supports the adoption of digital banking services [5] Group 3: Role of Key Stakeholders - Strattners is acting as a cornerstone investor in LOBO, focusing on developing project assets through blockchain technology and enabling the tokenization of various assets [4] - The local execution of the project will be led by E Amb. Williams Amoah and Dr. Jerry Brassfield, with an initial focus on constructing the EV manufacturing plant and the Digital Bank Africa headquarters [3][4] Group 4: Company Overview - LOBO EV is a certified high-tech manufacturer specializing in eco-friendly electric vehicles, including e-bicycles, electric motorcycles, and solar-powered vehicles, aiming to promote sustainable transportation options [6]
LOBO EV Technologies Announces Strategic Initiative to Establish CyberCity and Digital Bank Headquarters in Ghana