- Qoray launched 120 swap-enabled, electric 3-wheelers to a woman-led, women-operated transportation ecosystem in Kano State.
- The bank has built the first fully equipped solar-powered battery swap stations in Kano State and Nigeria to support the newly deployed EVs.
In a bid to align with the Nationally Determined Contributions (NDCs) to meet the 1.5oC Paris Climate Agreement 2015, several organisations have been on the frontlines of energy transition involving renewable energy adoption in various sectors.
Sterling Bank is one of the companies driving the energy transition force in the transport sector. In June 2023, The Alternative Bank, the ethical banking subsidiary of Sterling Financial Holdings (Sterling Bank), deployed Nigeria’s first public electric vehicle (EV) charging station in Victoria Island, Lagos.
Following this feat, on Tuesday, May 21 2024, the bank launched 120 swap-enabled, electric 3-wheelers (tricycles) to a woman-led, women-operated transportation ecosystem in Kano State. Qoray has also built and launched the first fully equipped solar-powered battery swap stations in Kano State and Nigeria to support the newly deployed EVs.
This initiative, called Qoray, aims to enhance renewable energy adoption in the transport sector, which equally reduces carbon emissions. This latest achievement, Qoray TEAK, is the single largest fleet of electric vehicles in Nigeria in collaboration with ElectricWomenOfKano.
Qoray provides electric vehicles, charging infrastructure and financing access. The initiative uses expert knowledge of the local context to deliver products and solutions that solve mobility challenges in the Nigerian economy.
According to Olabanjo Alimi, the Managing Director of Qoray and the Head of Renewable Energy at Sterling Bank, this initiative marks a significant step in driving Nigeria toward cleaner and more sustainable urban transportation.
He added, “Unlike traditional petrol-powered tricycles that contribute to pollution and incur high operating costs due to rising fuel prices, these electric tricycles are designed to reduce carbon emissions and promote a cleaner, healthier environment.”