C&I Leasing Expands Electric Vehicle Use in Ghana Amid Successful Series 5 Commercial Paper Issuance
C&I Leasing Plc has experienced significant success in its recent Series 5 Commercial Paper Issuance, concluding in March 2025, which saw an oversubscription. Since registering its N50 billion commercial paper program in 2022, the company has raised over N22 billion across multiple series, reflecting rising market demand for its commercial notes. This trend of oversubscription highlights the growing confidence in the company’s leadership and strategic initiatives aimed at strengthening its financial standing.
The company, which is Nigeria’s largest integrated leasing and business services group, has made impressive strides in its core business areas, including Marine Services, Fleet Services, and Personnel Outsourcing. Over the past five years, C&I Leasing has issued various commercial papers and corporate bonds, all oversubscribed, demonstrating strong investor confidence in its operations. One of its key strategies involves expanding into alternative energy, focusing on electric vehicles (EVs) for its vehicle fleet.
In Ghana, C&I Leasing’s subsidiary, Leasafric Ghana Plc, is increasing its adoption of electric vehicles as part of its commitment to sustainable business practices. Following successful initial forays into electric and compressed natural gas (CNG) vehicles in both Ghana and Nigeria, the company has received positive feedback from clients, noting both operational improvements and potential cost savings. As a result, Leasafric has expanded its EV fleet, including higher-end models for ride-hailing and other fleet services.
C&I Leasing’s management is focused on further enhancing operational efficiency, with plans to continue investing in technology to improve service delivery. According to the Group Managing Director/CEO, Lenin Ugoji, the company’s strategy centers around improving customer satisfaction, retention, and risk management. These efforts aim to increase shareholder value by strengthening cash flows, improving performance, and navigating the changing business landscape.
Source: Naria metrics