Key Developments
Ghana's Kofa Expands Battery-Swapping Network with $8 Million Investment to Boost Clean Energy Adoption
Ghanaian startup Kofa, a pioneer in battery network solutions, is expanding its operations in the country through a GBP6.15 million (US$8 million) special purpose vehicle (SPV).
The expansion aims to bolster Kofa’s battery-swapping network, offering affordable and reliable electricity to customers.
Kofa has partnered with impact investor PASH Global to establish the SPV, which is backed by a GBP2.35 million (US$3 million) commitment from Shell Foundation and the UK Government’s Transforming Energy Access (TEA) platform.
This partnership will support the deployment of 6,000 batteries and up to 100 swap stations across Ghana.
The battery-swapping network will provide clean energy for electric two-wheelers, small businesses, and homes, reducing reliance on fossil fuels.
Kofa will focus on managing the battery network, while PASH will oversee operational maintenance and deployment of swap stations.
“This initiative is a significant step towards cleaner, more sustainable energy solutions in Ghana,” said Erik Nygard, CEO of Kofa Technologies.
“With the support of our partners, we are building a foundation that will benefit local communities and businesses.”
The expansion is part of Kofa’s broader goal to create a sustainable energy future in West Africa. The startup has also announced plans to expand its operations to Kenya and Togo.
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