C&I Leasing Plc has expanded the use of its Electric Vehicles within its fleet via its subsidiary, Leasafric Ghana Plc, as it recorded an impressive oversubscription in its recent Series 5 Commercial Paper Issuance, which concluded in March 2025.
According to a report in 2024 on the group’s venture into Electric Vehicles and Compressed Natural Gas (CNG) in Ghana and Nigeria, the initial forays have witnessed positive impact on service delivery, with green shoots being experienced in potential cost benefits.
The company announced that since registering its N50 billion commercial paper programme with the FMDQ in 2022, it has raised over ₦22.00 billion across four series with increasingly rising demand for the Company’s Commercial Notes as indicated by issuing houses Cordros Capital Limited and Anchoria Advisory Services Limited.
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As a result, Leasafric has procured higher categories of Electric vehicles for deployment in Ride Hailing and other categories of vehicle Fleet support to customers.
Lenin Ugoji, group managing director and CEO, said that several factors are positioning the company for improved shareholder value.
Ugoji said the company is very strategic in its focus on improving operational efficiency and performance management.
“As a service business, we are only as good as our clients say. In addition to this renewed focus on customer feedback and retention across its business offerings, increased investments in technology to improve service efficiency are one of its goals in 2025,” he said.
This is expected to improve service delivery further, strengthen cash flows and improve its Risk management framework to enable it to continue to navigate the ever-changing business environment.
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He further said that in the last five years, the company has issued a series of commercial papers and corporate bonds, which had all been oversubscribed, indicating an excellent show of confidence from the Market in the Board and Management’s initiatives to improve the Company’s fortunes.
As Nigeria’s largest integrated leasing and business services group with over 7,500 employees across Nigeria and its subsidiaries overseas.
The company has witnessed some strong improvements across its core business areas of Marine Services, Fleet Services and Personnel Outsourcing Services.
This includes its recent foray into alternative energy for its Vehicle Fleet and also has its sights set on introducing the same to the Marine Services section of its business in the near future.
