Welcome readers! Join us as we move around the continent to catch up on the latest transport updates!
Nigeria: FG offers free CNG conversion for commercial vehicles
The Federal Government, on Thursday, declared that the conversion of petrol and diesel-powered commercial vehicles to run on Compressed Natural Gas (CNG) will now be provided free of charge.
This decision follows agreements signed with several companies specializing in vehicle conversion to CNG.
The Programme Director/Chief Executive of the Presidential Compressed Natural Gas Initiative, Michael Oluwagbemi, stated that agreements have been signed with five partners in Abuja to facilitate this initiative. Unionized operators, including members of RTEAN, NARTO, and NURTW, will benefit from a 100% discount on conversion kits and installation.
Ride-share operators (Uber, Bolt, Lag-Ride, Move, etc.) are also eligible to participate in this programme.
Kenya: Norfund Invests $307M in Kenya’s Electromobility
Norwegian Investment Fund, Norfund has committed $307 million to Kenya’s electromobility sector, with a focus on start-up BasiGo. This investment will facilitate the assembly of 1,000 electric buses for Kenya and Rwanda, creating around 300 jobs for young Africans.
Norway’s Foreign Affairs Minister announced the investment during a visit to Nairobi, underscoring the growing trade relations between Norway and Kenya. The bilateral trade saw a 30% increase from 2021 to 2022, with approximately 45 Norwegian companies now active in Kenya, particularly in agritech and renewable energy sectors.
Kenya’s efforts in promoting green mobility are bolstered by supportive tax incentives and the establishment of new electric vehicle assembly plants, making it an attractive destination for international investments like Norfund’s substantial commitment.