LOBO EV to establish cybercity, digital bank headquarters in Ghana

LOBO EV (LOBO) announced its strategic plans in collaboration with World Business Group, 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 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 $1.13T-1.15T. 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 $30B-$50B. 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 of over 15% in the next five years.