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Kofa, a dynamic startup based in Ghana, has secured funding to revolutionize the energy sector with its pioneering Battery-as-a-Service (BaaS) model.
In a bid to overcome the limitations of traditional energy storage systems, Kofa has set its sights on powering the nation’s future with a sustainable and innovative approach. Kofa’s game-changing BaaS model allows customers to access advanced battery technology without the hassle of upfront costs or ownership.
This transformative service allows residential and commercial clients to tap into the advantages of energy storage without bearing the burden of heavy capital investment. By proactively harnessing renewable energy sources, Kofa aims to bridge the gap between intermittent power supply and constant demand. Kofa’s recent funding round was led by Mercy Corps Ventures, Shell Foundation, UK’s FCDO (Foreign, Commonwealth & Development Office), and Wangara Green Ventures.

Sony Group Corporation has launched the Sony Innovation Fund: Africa, a $10 million fund to support the growth of the continent’s entertainment sector.
Egyptian healthtech startup Chefaa has received a $5.25 million boost in a funding round co-led by Newtown Partners (South Africa) and Global Brain (Japan).

The European Bank for Reconstruction and Development (EBRD) is injecting up to $40 million into SPE Capital’s newly launched SPE PEF III fund.