Business
Top 10 African Countries Leading in Electric Vehicle Adoption
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Top 10 African Countries Leading in Electric Vehicle Adoption, According to Mordor Intelligence, the size of Africa’s electric vehicle market in 2024 is estimated at $15.80 billion and is expected to hit $25.40 billion by 2029.
Globally, China, Europe and the USA lead other countries as the largest markets for electric vehicles and the combined sales of EVs in all three countries accounted for around 95% of all EV sales in 2023.
Despite having the lowest EV adoption rate globally, some African countries boast of some impressive advancements in the adoption of EV with partnership from the government and the private sector.
Africa however, has peculiar problems which may hamper the full adoption of EV in the continent. These issues range from high cost of conversion, lack of adequate enabling infrastructure such as charging points, high cost of capital, competition from second-hand imports, low energy access, poor power grid infrastructure, and a legacy of depending on fossil fuels.
The list below in no particular order, shows African countries that currently have a robust adoption rate for electric vehicles;
South Africa
South Africa’s infrastructure advancement and developed manufacturing industry makes it an ideal hub for EV manufacturing. As of 2020, there were 6000 EVs in the country.
Morocco
Morocco’s EV fleet as at 2023 was put at 10,000. The country currently produces more vehicles than South Africa while its auto industry accounts for 22% of GDP and $14 billion in exports.
Kenya.
Kenya currently hosts the continent’s largest e-mobility start-up ecosystem with an investment ecosystem that shows increasing interest in e-mobility. The country’s EV registration (3,753) however, accounted for just 1.7% of new vehicle sales in the country.
Tanzania
Tanzania has fast become a force in Africa’s EV market. A 2023 report by the Africa E-mobility alliance put the number of EVs in Tanzania at 5000 vehicles.
Angola
Angola also boasts of having one of the largest EV adoption in Africa with 1000 units according to the Africa E-Mobility Alliance with an additional 2000 EV imports from the United States in 2024.
Ghana
Ghana recorded an impressive 17,000 EV units including two and three-wheelers according to government data. The country also has one of the largest EV four-wheeler fleets in Africa, with about 1,000 tracked in the Africa E-mobility Alliance’s 2023 report.
Rwanda
As at 2022, Rwanda had about 900 EVs listed in its database. This number has sharply risen to about 1,182 include two, three and four wheelers.
Egypt
There has been a sharp rise in the number of EVs in Egypt rising from 1800 recorded in 2021, to between 3500 and 4000 EVs in 2023.
Ethiopia
The growth of EVs in Ethiopia has been linked to favourable government policies. According to estimates from Cleantechnica.com, there were about 5000 to 7000 EVs plying Ethiopian roads
Benin
Benin is also emerging as a force in EV adoption with the presence of over 3000 electric vehicles, mainly electric motorcycles.
The data on Nigeria’s EV market is currently not available but sales data from one of the top automobile companies, Stallion Motors showed it had only sold 120 units of Kona, (Nigeria’s first EV) since its launch in 2020.
Nigeria is yet to make its presence felt in the EV market despite its large population and large tech market base although some indigenous companies like Innoson, have made some advanced progress with their EV manufacturing plant.
According to Cornel Osigwe, the company’s Head of Corporate Communications, Innoson is in the process of releasing the first set of its EVs which are currently still undergoing final certification and approval tests by the company’s quality control department for sales.
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Business
Why Betway Nigeria is the top choice for Betting in 2025
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Betting in Nigeria has exploded in popularity, and with so many platforms popping up, it’s tough to know which one truly stands out. Spoiler alert: Betway Nigeria isn’t just another name in the crowd.
It’s a powerhouse, offering everything a bettor could ask for, from extensive markets to sleek casino games. The Betway app makes the whole experience even smoother, but that’s just the beginning.
Let’s break down why Betway Nigeria should be your go-to in 2025.
A Licensed Operator You Can Trust
First things first – trust matters. Betway Nigeria operates under a legitimate license from the National Lottery Regulatory Commission (NLRC), ensuring everything is above board. That’s not just a fancy certificate on the wall; it means your bets are placed in a secure, regulated environment.
Why is this important? Because it protects your money, your personal data, and your peace of mind. In an industry where shady operators exist, Betway’s legal status is a massive plus. No funny business, just fair play.
Betting Markets That Cover Everything
If you’re into sports betting, you know the frustration of limited options. Some platforms focus on football and call it a day. Betway Nigeria? They go the extra mile.
Football: From the English Premier League to local Nigerian leagues, every kick, goal, and upset is covered.
Basketball & Tennis: Whether it’s the NBA or Wimbledon, Betway keeps you in the game.
Esports: Yes, even competitive gaming gets the spotlight with markets for CS:GO, Dota 2, and more.
Live betting takes it up a notch. Imagine watching a match and placing bets in real-time as the action unfolds. It’s thrilling, and Betway’s interface makes it easy to jump in without missing a beat.
Now, before you think we’re listing everything, here’s the thing: Betway’s strength isn’t just the variety. It’s how well they present it. The platform is intuitive, so you’re not lost in endless menus trying to find that obscure match in the Serbian SuperLiga (unless that’s your thing).
Casino Games That Go Beyond the Basics
Sure, sports betting is fun, but sometimes you want to switch things up. Betway Nigeria’s casino section is where the real excitement kicks in.
They’ve got slots galore, from classic fruit machines to high-definition games with jaw-dropping graphics. Prefer table games? Blackjack, roulette, and baccarat are ready to go. And let’s not forget the exclusive titles you won’t find anywhere else.
These aren’t just cookie-cutter games; they’re crafted to keep things fresh. What makes it stand out? It’s seamless. You can jump from sports betting to spinning the reels without switching platforms. No fuss, no hassle – just pure entertainment.
Deposits and Withdrawals? As Easy as Sending an SMS
Nobody likes jumping through hoops to get their money in or out of a betting account. Betway Nigeria gets it. That’s why they’ve streamlined the process with payment methods tailored to Nigerian users.
Bank Transfers: Direct, fast, and reliable.
Mobile Money: Perfect for quick transactions on the go.
USSD Codes: Even without the internet, you can fund your account.
E-wallets and Cards: For those who prefer digital payments.
What’s even better? Withdrawals are quick. No waiting days wondering where your money went. Betway keeps it simple because, well, it should be.
Why Betway Nigeria Stays Ahead in 2025
So, why Betway Nigeria? It’s not just because they’ve been around the block or because they have a shiny license. It’s because they’ve mastered the art of delivering what bettors actually want.
Security: Licensed, regulated, and trustworthy.
Variety: Sports, casino games, live betting – you name it.
Convenience: Easy payments, a user-friendly platform, and the Betway app that keeps you connected anytime, anywhere.
In a sea of betting platforms, Betway Nigeria isn’t just floating; it’s leading the charge. If you’re looking for a platform that’s got the right mix of security, excitement, and convenience, Betway is the smart choice for 2025. Give it a shot – you might just find your perfect match.
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Business
Party over as T-bills yield falls to one-year low of 22.58%
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.Signals rate cut at MPC meeting The bull-run at the Nigeria treasury bill (T-bills) market seen since last year came
read more Party over as T-bills yield falls to one-year low of 22.58%
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Business
7 everyday habits that can transform your financial future
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In Nigeria’s dynamic economy, small consistent actions can transform money management and build a solid foundation for future wealth. By tracking spending, setting realistic budgets, and resisting impulsive purchases, you can gradually improve your financial well-being.
The insights below offer 7 practical habits that empower you to take control of your finances and navigate economic challenges effectively.
Discover how simple daily routines lead to smarter saving, strategic spending, and steady growth, ultimately transforming your financial future and creating long-term success. Start today, succeed.
ALSO READ: How to make your children grow up rich even if you are broke
1) Track Your Spending
Keep a daily record of all your expenses. Whether you use a simple notebook or a mobile budgeting tool, noting every Naira spent helps you understand your spending habits. This awareness allows you to identify areas where you can cut costs and save more.
2) Create and Stick to a Budget
Develop a realistic monthly budget based on your income and necessary expenses. Allocate funds for savings and occasional treats. Following a budget ensures that you live within your means and gradually build a financial cushion.
3) Save Consistently
Make saving a non-negotiable part of your routine. Set aside a fixed portion of your earnings regularly, even a small amount can add up over time. Building an emergency fund provides security and prepares you for unforeseen expenses.
EXPLORE: How millennials and Gen Z are shaping their future finances
4) Invest in Self-Development
Invest in acquiring new skills and knowledge. Whether through courses, workshops, or reading, enhancing your abilities can lead to better job opportunities and increased income. Personal growth is a long-term asset that pays dividends over time.
5) Plan for the Future
Set clear financial goals and work towards them step by step. Whether saving for a home, education, or retirement, having well-defined targets helps you stay motivated and make sound financial decisions.
6) Avoid Impulsive Purchases
Before making a non-essential purchase, give yourself time to consider if it is truly necessary. A simple pause can prevent regretful spending and help you stick to your budget.
7) Seek Reliable Financial Advice
Regularly update your financial knowledge by reading trustworthy sources or consulting experienced advisors. Learning from others’ experiences and expertise helps you avoid common pitfalls and refine your financial strategies.
By incorporating these habits into your daily routine, you can gradually transform your financial situation. Small steps taken consistently can lead to a secure and prosperous future, empowering you to make informed decisions and safeguard your hard-earned money.
RECOMMENDED: 3 easy steps for creating a practical monthly budget
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