Auto Finance and Ownership Programs Prepare Africa’s Mobility Market for Electric Vehicle Adoption

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There is a common belief that in the Mozambican capital of Maputo most vehicles on the streets are not less than ten years old.

While new four-wheelers are generally scarce in this Southeast African country, electric vehicles are absent and even unknown, as most of the country’s automobiles are imported from Japan as “fairly used” goods.

However, this is not a specific reality in Mozambique. In the majority of other African economies, where about 40 percent and 2 percent used and new light vehicles around the world are sold, respectively – electric vehicles are relatively new and not often pictured.

In Nigeria, Kenya and Ethiopia, for example, 80 to 90 percent of vehicles used are imported. For low-income African countries, the proportion is probably higher.

Only 12 percent of the sub-Saharan Africa region’s total emissions come from automobiles. The demand for road transport, however, is skyrocketing along with the size of its population, creating a need for a transition to a cheaper and less dangerous form of mobility: electric vehicles.

Currently, South Africa has the largest electric vehicle market in the region and the continent as a whole, but of the more than 12 million vehicles on the country’s roads, only around 1,000 run on clean energy. .


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