Business
LOBO EV Technologies Announces Strategic Initiative to Establish CyberCity and Digital Bank Headquarters in Ghana
WUXI, China, Oct. 20, 2025 (GLOBE NEWSWIRE) -- LOBO EV TECHNOLOGIES LTD. (“LOBO” or the “Company”) (NASDAQ: LOBO), a cutting-edge electric mobility products
About this update from Lobo Technologies Ltd.
[{"type":"text","content":"WUXI, China, Oct. 20, 2025 (GLOBE NEWSWIRE) -- LOBO EV TECHNOLOGIES LTD. (“LOBO” or the “Company”) (NASDAQ: LOBO), a cutting-edge electric mobility products manufacturer, today announced its strategic plans in collaboration with World Business Group (Earthcore Investments Limited), 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 (e-motorcycle, tricycles and other models of transportation vehicles) 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 US$1.13–1.15 trillion. 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 US$30 billion and US$50 billion. 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 (CAGR) of over 15% in the next five years. E Amb. Williams Amoah, as the group chairman representing World Business Group (EarthCore Investments Ltd), with his Chief Executive Officer Dr. Jerry Brassfield will lead the local execution of the project, focusing initially on constructing the EV manufacturing plant and the Digital Bank Africa headquarters, while subsequent phases will include additional technology and financial initiatives. Strattners, acting as a cornerstone investor in LOBO, underscores the company's commitment to advancing sustainable mobility and digital finance infrastructure. Strattners will also play a critical role in developing the project assets through Strattners Capital Chain (strattners.capital), including blockchain architecture, contract coding, and business integration. Furthermor...