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    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

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    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

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    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

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    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

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    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

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    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

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    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

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    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

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    iPhone 16 Sales Surge 20% in China, Signaling a Strong Comeback

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Morocco Backs Nigeria’s Ambitious Push for Locally-Made Electric Vehicles

by Iyanu Ale
November 5, 2024
in Tech
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Morocco Backs Nigeria’s Ambitious Push for Locally-Made Electric Vehicles
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Nigeria is taking a significant step towards the future of electric mobility with new support from Morocco. The collaboration, unveiled at the Nigeria-Morocco business forum, brings together Morocco’s National Automotive Design and Development Council, alongside Moroccan firms E-move Vehicles and Univers Acier, with the Nigerian government to propel Nigeria’s electric vehicle (EV) manufacturing industry.

This partnership outlines a comprehensive plan to build Nigeria’s capacity in local EV manufacturing, component production, and infrastructure development. E-move Vehicles, known for its expertise in energy storage, electric vehicles, and battery technology, will use this investment to drive growth in Nigeria’s automotive sector. The company will be joined by Univers Acier, a steel manufacturing giant, to support production and assembly within Nigeria. Notably, these vehicles will be manufactured locally before being exported to Morocco, a move that underscores Nigeria’s potential as a regional hub for EVs.

Why does this matter? The collaboration promises to advance local production in Nigeria, reduce dependency on vehicle imports, and drive economic growth by creating jobs and enhancing infrastructure. The project is part of Nigeria’s broader strategy to embrace renewable technology, with a particular focus on establishing a sustainable EV ecosystem in Africa’s largest economy.

The African EV market is set to expand significantly, with projections estimating an 8.85 percent growth by 2029. Nigeria’s entry into EV production signals the country’s commitment to sustainable innovation and positions it as a key player in Africa’s clean energy transition. With the groundwork laid by this Nigeria-Morocco alliance, the nation is poised to make notable strides in EV technology and production.

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