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 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. Furthermore, Strattners plans to enable tokenization of various assets such as securities, commodities, and real estate. The collaboration between the two parties is expected to exert a positive impact on LOBO's growth trajectory. By participating in this tripartite cooperation, Strattners not only aligns with its own business development path but also aims to support LOBO's strategic expansion plan, demonstrating its firm commitment to LOBO's business growth. This effort will create value for LOBO's shareholders while also contributing to Ghana's economic development.
Ghana has emerged as a strategic location for digital finance innovation, boasting one of the highest remittance inflows in Africa. In 2024, remittances to Ghana reached $4.6 billion, a 91% increase from the previous year, driven by proactive government policies engaging the diaspora and supporting financial literacy. Combined with a highly active mobile money ecosystem, including MoMo transfers, Ghana is uniquely positioned to adopt and scale stablecoins and digital banking services. According to the Head of FinTech and Innovation Office of Bank of Ghana, the Bank has completed the drafting of the Virtual Asset Service Providers (VASP) Bill, looking ahead, the Bank has adopted a structured road map to guide the phased implementation of the framework and the operationalisation of the forthcoming VASP Act.
About LOBO
LOBO EV is an electric mobility products manufacturer. It is a certified high-tech company specializing in manufacturing a wide range of eco-friendly electric vehicles and home-used robotic products. It also is a golden plus supplier verified by Alibaba.com. Its products include e-bicycles, electric motorcycles, e-tricycles, electric off-road four-wheeled shuttles such as golf carts and elderly scooters, solar-powered vehicles as well as smart products. By leveraging cutting-edge technology and sustainable practices, LOBO aims to promote eco-friendly transportation options that reduce carbon footprints and enhance energy efficiency.
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of the federal securities laws, including statements regarding LOBO's strategic plans in Ghana, potential benefits to shareholders, and the development of digital banking and EV manufacturing infrastructure. These statements are subject to risks and uncertainties, including the Company's ability to execute its plans, regulatory approvals, market conditions, and other factors described in LOBO's filings with the SEC. Actual results may differ materially from those expressed or implied by these forward-looking statements. LOBO undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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