Financing gaps threaten growth of Ghana’s electric two-wheeler industry – GCCE

The Ghana Chamber of Clean Energy (GCCE) has identified seven major financing constraints affecting businesses in Ghana’s electric two-wheeler industry, warning that the challenges could limit the sector’s growth. The concerns were outlined at a stakeholder consultative workshop organised by GCCE in partnership with the William Davidson Institute (WDI) at the University of Michigan in Accra on Tuesday, October 27, 2026. The workshop brought together electric two-wheeler manufacturers, assemblers, retailers, financial institutions and other industry stakeholders to examine financing barriers and explore ways to improve access to capital. A research team working with the two organisations presented seven preliminary financing gaps identified through the study. These include the limited implementation of announced import duty waivers for electric two-wheeler businesses and difficulties transitioning from grant funding to follow-on investment. Other challenges identified were companies relying on their own balance sheets to finance riders, limited access to affordable local-currency loans and lending requirements that early-stage businesses struggle to meet. The research also highlighted a mismatch between the asset-light business models preferred by equity investors and the financing needs of electric two-wheeler companies. Information and expectation gaps between businesses and capital providers were identified as another constraint. Delivering the opening remarks, GCCE’s Programmes and Outreach Manager, Emmanuella Biney, said addressing the challenges would require more than simply increasing the availability of funding. She said appropriate financing structures, stronger institutional collaboration and a supportive policy environment were also necessary to improve investor confidence and expand access to capital. “It also demands appropriate financing structures, stronger institutional collaboration, and an enabling environment that strengthens investor confidence, facilitates greater access to financing, and accelerates the adoption of electric two-wheelers in Ghana, contributing to cleaner air and a more sustainable transport sector,” she said. Ms Biney added that no single institution could resolve the challenges independently, stressing the need for coordinated action among government, financial institutions and industry players. Participants broke into groups to assess the seven preliminary findings, identify additional barriers and propose possible interventions. The discussions focused on strengthening collaboration between government, financial institutions, electric two-wheeler businesses and other industry stakeholders to improve financing opportunities and support the sector’s expansion. The findings and recommendations from the workshop will inform a joint public report to be developed by GCCE and WDI. The report is expected to guide the chamber’s engagement with government, financial institutions and industry stakeholders on policy and financing measures to address the barriers identified. Electric two-wheelers are increasingly being considered as part of Ghana’s transition to cleaner transport, with potential benefits for emissions reduction and employment. However, the financing challenges identified by the study could constrain the ability of businesses to expand their operations and reach more consumers.