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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 has proposed an equity investment of up to $50 million in the Universal Green Energy Access Programme, a fund seeking to expand financing for distributed renewable energy projects across sub-Saharan Africa.

Better Auth, a developer-centric authentication platform based in Ethiopia, has successfully raised $5 million in a seed funding round.

DEG, Germany’s development finance institution, has agreed to provide a €30 million loan to the Africa Go Green Fund (AGG), a debt fund managed by Cygnum Capital, to support the expansion of climate-oriented businesses across the African continent.