Opinion: Why financial access is Africa’s real EV revolution

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The conversation around EVs often focuses on batteries, supply chains and charging infrastructure, but the real revolution in Africa is financial, says MAX’s CEO Adetayo Bamiduro. Most motorcycle taxi riders don’t own their vehicles, instead working under a “rent-and-remit” system that consumes most of their earnings and locks them out of asset ownership.

• Mr Bamiduro has served as CEO of MAX since its launch in 2015, raising over $60 million and expanding its native Nigeria. He is focused on delivering mobility solutions through electric motorcycles and tricycles.

• Globally, auto loans and asset financing have long been mobility drivers, yet in Africa, riders face a lack of collateral, limited credit history, and little interaction with formal banks, says Mr Bamiduro. 

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