Fidelity Bank Ghana, the nation’s largest private bank, played a key role at the Electric Mobility Conference 2024 held in Accra.
The two-day event, themed “The New ERA: Innovation and Sustainability”, was proudly sponsored by Fidelity. It brought together industry leaders and government representatives to discuss advancements in electric vehicles (EVs), reducing emissions, and fostering supportive policies.
Fidelity’s Deputy Managing Director, Atta Yeboah Gyan, delivered a thought-provoking keynote address. He highlighted Africa’s unique position in the e-mobility revolution: a growing population, rising transportation needs, and a pressing need for sustainable solutions. Gyan emphasized, “E-mobility offers a promising opportunity to address all three simultaneously.”
However, Gyan acknowledged challenges, particularly the high upfront costs hindering wider adoption. He stressed the importance of collaboration to overcome these hurdles, including innovative funding and public-private partnerships (PPPs). He cited the African Development Bank’s SEFA as a positive step, and called for combining resources and expertise to accelerate e-mobility infrastructure development.
Gyan also outlined key government policies to unlock e-mobility’s potential. He emphasized promoting charging stations in public spaces, transportation hubs, and residential areas to reduce “range anxiety” and make EVs more convenient.
Public education was another focus point. Gyan stated, “Educating the public is crucial for widespread adoption.” He encouraged collaboration between governments, educational institutions, and the private sector to explore and optimize renewable energy’s potential for Africa.
Financial incentives were also addressed. Gyan explained that tax breaks and subsidies could make e-mobility more affordable and attractive.
Fidelity Bank’s commitment to sustainability was a key message. Gyan highlighted their initiatives, including financing renewable energy appliances, powering a remote school with solar energy, and partnering with solar providers for customer financing. The bank itself utilizes solar power at its annex and is developing a pipeline of sustainable products.
Gyan concluded by reiterating the importance of collaboration: “Together, governments, businesses, and innovators can transform e-mobility and renewable energy into the cornerstones of a sustainable future for Africa.” Fidelity Bank, he affirmed, stands ready to be a partner in this journey.
The Electric Mobility Conference 2024 provided a valuable platform for stakeholders to discuss the future of African transportation. With a shared commitment to collaboration and sustainability, e-mobility is poised to transform the continent, ensuring a cleaner and greener future.
