Ecowaka, a Nigerian electric mobility company focused on clean transport solutions, has announced a partnership with GreenMax Capital Group to support expanded access to financing for electric three-wheelers (e-kekes) in Nigeria.
The collaboration aims to address one of the largest barriers to electric vehicle adoption across African markets: the high upfront cost of vehicle acquisition. Through the partnership, eligible drivers, fleet operators, cooperatives, and small businesses will be able to access financing options designed to reduce initial payment requirements and support repayment over time.
The initiative is being supported through the Green-for-Access First Loss Facility (G4A), a blended finance platform managed by GreenMax Capital Group that helps unlock financing for distributed renewable energy and electric mobility technologies in emerging markets.
Ecowaka has successfully deployed 10 electric three-wheelers, marking a significant operational milestone in the company’s journey toward cleaner, more efficient urban mobility. This deployment represents the first phase of a carefully structured rollout strategy, as Ecowaka advances toward its target of 500 units before the close of the year.
Nigeria’s transport sector continues to face rising fuel costs, urban air pollution, and increasing demand for affordable mobility solutions. Electric three-wheelers offer a lower operating-cost alternative to conventional internal combustion vehicles, particularly for commercial transport operators.
“We are excited to work with GreenMax and G4A to help make electric mobility more financially accessible,” said Prince Ojeabulu, Founder and CEO of Ecowaka. “Access to financing remains one of the key barriers preventing many drivers and small operators from transitioning to electric vehicles. This partnership is designed to help reduce that barrier while supporting cleaner and more efficient transportation solutions.”
David Ekabouma, Chief Executive Officer of GreenMax Capital Group, said the partnership reflects the growing importance of catalytic financing structures in scaling electric mobility across African markets.
“Access to affordable financing remains one of the largest constraints to e-mobility adoption,” said Ekabouma. “Through G4A, GreenMax is working with partners such as Ecowaka to help reduce financing risk and expand access to clean transportation technologies for underserved users and enterprises. We believe blended finance mechanisms can play an important role in accelerating commercially sustainable electric mobility markets.”
The partnership also aligns with broader efforts to expand clean energy deployment and reduce transport-sector emissions across Nigeria and Sub-Saharan Africa.
About Ecowaka:
Ecowaka is a Nigerian sustainable mobility company focused on deploying electric three-wheelers and related transport solutions to improve urban and commercial mobility. The company provides technology-enabled transportation solutions designed for individuals, fleet operators, businesses, and institutional partners across emerging markets.
About GreenMax Capital Group:
GreenMax Capital Group is a specialized advisory and fund management firm focused on clean energy, climate finance, and sustainable infrastructure in emerging markets. The firm supports the development and financing of renewable energy, energy access, e-mobility, and climate-focused investment platforms across Africa, Asia, Latin America, and Eastern Europe.
About G4A:
The Green-for-Access Fund (G4A) is a blended finance platform managed by GreenMax Capital Group that provides first-loss support and risk-sharing mechanisms to help expand financing for energy access and electric mobility solutions in emerging markets. G4A works with financial institutions, technology providers, and ecosystem partners to unlock local lending for underserved sectors including e-mobility, productive use equipment, and distributed renewable energy technologies.
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