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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.

The International Finance Corporation (IFC) has announced that it is considering an equity injection of up to $15 million into the newly launched Catalyst MENA Climate Fund II, a climate-focused investment vehicle managed by Catalyst Investment Management.

Egyptian health-tech company Rology has confirmed that it has closed a growth funding round, with backing from global healthcare-investment leaders such as Philips Foundation, Johnson & Johnson Impact Ventures, Sanofi Global Health Unit’s Impact Fund and MIT Solve Innovation Future.

Finnish development financier Finnfund has announced a $5 million mezzanine loan to Communication & Renewable Energy Infrastructure (CREI) to support the installation of hybrid power solutions for telecom sites in South Sudan.