ADDIS ABABA – In a significant move to accelerate Ethiopia’s green mobility transition, FinTech Investment is launching mobile power backup solutions powered by solar and wind hybrid systems, targeting electric vehicle (EV) users and broader market needs.
Speaking at a press briefing yesterday, FinTech Investment Deputy Executive Manager Yeabsera Tadesse announced that the company is rolling out mobile solar-wind hybrid systems as sustainable alternatives to support EV charging and address power reliability issues. The infrastructure necessary to support this bold initiative is already under development.
The green energy solution is part of FinTech’s wider effort to modernize the country’s transportation and energy systems. The company has already distributed 250 electric vehicles (EVs) to customers out of a planned 20,000 EV purchases, with preparations underway to deliver an additional 258 units.
To make EV ownership more accessible, the firm is offering five-year, interest-free credit arrangements. Seven models of BYD electric vehicles are currently available at nearly 50% of their original price, now starting at 950,000 Birr.
Yeabsera emphasized that FinTech’s offerings come with strong warranty support, with battery and body coverage ranging from 5 to 8 years—providing customers peace of mind about long-term value and durability. To date, the company has extended over 1.14 billion Birr in vehicle financing.
“This investment is not only reshaping Ethiopia’s financial sector but also driving the nation’s shift toward sustainable and clean transportation,” he noted.
In addition to vehicle financing and energy solutions, FinTech provides comprehensive after-sales support—including EV charging infrastructure development, maintenance services, and spare parts supply—ensuring a seamless customer experience.
The initiative comes at a time when Ethiopia has officially banned the import of gas-powered vehicles, signaling a major policy shift in favor of electric transportation. According to official data, EVs now account for nearly 10% of the country’s internal combustion engine (ICE) vehicle registrations.
BY TSEGAYE TILAHUN
THE ETHIOPIAN HERALD THURSDAY 17 APRIL 2025
