How Orange Bikes is changing Africa

After a sharp contraction due to the COVID-19 pandemic, Sub-Saharan economies are expanding, leading to a boom in the logistics industry as the need for transportation increases. However, more than half of the active vehicles in the region are inefficient 2-stroke petrol engines, which are mainly used in taxi and delivery services that travel hundreds of kilometers a day. The fuel they burn is expensive for drivers and produces large amounts of toxic CO2 and particulate matter.

Aware of the need for cheaper and more efficient transport solutions, Bob Eco Ltd., a fast-growing electric vehicle and clean energy company, entered the African markets with a line of orange-clad electric two- and three-wheelers designed for the needs of taxi drivers and delivery drivers. Since the first hit the road in October 2020, Bob Eco’s bicycles create a total of 2.6 jobs per bicycle and save 5 tons of CO2 emissions into the atmosphere every year.

Able to save on fuel costs, drivers who switch to one of Bob Eco’s vehicles nearly quadruple their take-away wages on average, enabling them to support their families and equip their homes with basic necessities such as running water. Furthermore, Bob Eco offers his bikes on a lease-to-own basis, giving drivers the opportunity to build wealth once they pay off their rides.

As the clear choice for both drivers and the environment, Bob Eco has attracted the attention of African governments, leading to several state-level partnerships, including an order for 232,000 vehicles from the Senegalese government.

Bob Eco signed a $200 million manufacturing deal with manufacturing giant Jincheng Suzuki for annual volumes of 200,000 units to keep up with demand. Bob Eco has also recently opened a manufacturing facility that focuses on the production of tricycles and Tuk Tuks, which are popularly used for transporting bulky goods and larger groups of people in comfort. This facility has an annual production capacity of 1,500,000. The electric vehicles produced by this facility alone could save more than 1,500,000 tons of CO2 emissions by 2024.

Using the UN Environment eMob calculator, scenario calculations show that 11 billion tons of emissions could be saved by 2050 with a global shift to 90% battery-electric motorcycles. Given the rapid growth of two- and three-wheelers in Africa, Bob Eco is targeting areas where it can have the greatest impact.

However, Bob Eco is not just fighting for the environment. Bob Eco also has several social programs in Africa to help those in need. These programs include providing nutritious meals to hungry children by planting fruit trees and raising animals, building new water sources for local communities, providing scholarships and resources to schools, and providing shelter solutions for those who don’t.

In order to do well in more places, Bob Eco launched its BobCoin (BOBC) STO in the primary market in March 2021. Since Bob Eco sold 24% of all Bobcoins for tens of millions of dollars to investors in more than 40 countries, the STO can be considered a great success. Bob Eco’s drive to expand has led Bob Ultee (CEO of Bob Eco) to announce that Bob Eco is “going public” with an ICO-WA in March. Bob Eco will sell BOBC in the primary market in this second round of financing, which is already accessible to private investors through presale on the renowned crypto platform† The expected valuation of the listing is $1.45 billion to $1.5 billion.

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