NEWS
Rand Merchant Bank invests in climate tech company KOKO as part of carbon business growth
Rand Merchant Bank , RMB , announced a strategic partnership with climate technology provider KOKO , where it has acted as the lead mandated arranger and financier for a pioneering carbon financing solution , to further propel KOKO ’ s climate objectives .
In Africa , over 900 million people cook with polluting fuels like charcoal , directly driving millions of hectares of deforestation and over 600,000 deaths from household air pollution each year , and emitting greenhouse gases that are similar in scale to the global aviation industry . To solve this problem , a continent-wide energy transition to clean and modern fuels is required .
KOKO is this transition , replacing demand for charcoal through supplying over 1.1 million homes with bioethanol cooking fuel distributed through a dense network of high-tech KOKO Fuel ATMs located in thousands of corner stores across urban Kenya . The resultant carbon revenues are shared with households as a non-government energy subsidy , enabling even the poorest households to switch .
Says Phil Norton , Carbon Finance Lead at RMB , “ We are proud to partner with KOKO in supporting their continued rapid growth while bringing far more affordable and lower emissions energy to millions of people in Africa . As a pan-African investment bank , this deal fits well within our ambition to build a market carbon trading and finance business operating across Africa , serving both existing and new clients .”
According to Greg Murray , CEO and Co-Founder of KOKO , RMB has demonstrated strong conviction on the opportunity to harness carbon in a manner that transforms the lives of Africa ’ s citizens . “ We have been looking for an entrepreneurial banking partner that understands Africa , climate markets and technology . We are proud to embark on this long-term partnership with RMB to help accelerate the expansion of KOKO ’ s platform across Africa .”
Liquid Dataport enters into a partnership with VIPNET in Côte d ’ Ivoire
Liquid Dataport , a business of Liquid Intelligent Technologies , a pan-African technology group , announced a partnership with VIPNET , a privately-owned corporate Internet Service Provider , ISP in Côte d ’ Ivoire .
This partnership will allow Liquid Dataport to leverage VIPNET ’ s infrastructure to provide ISPs and Enterprise customers with access to Liquid ’ s full portfolio of services , including its extensive pan-African network and innovative cloud and cyber security solutions . This is a significant step for Liquid Dataport in expanding its network and service capabilities across West Africa , which is a key growth market for the company .
“ We consider Côte d ’ Ivoire a very important ICT hub in the Francophone West African region . The country ’ s stability , substantial economic growth , and increasing demand for connectivity services make it an ideal location for Liquid to extend its presence . Through our partnership with VIPNET , Liquid will enhance regional connectivity and empower businesses and enterprises through expanded service capability ,” says David Eurin , Chief Executive Officer of Liquid Dataport .
“ This new partnership will enable VIPNET to strengthen its position as a technological hub of excellence within the West African
sub-region , with a much higher bandwidth , and access to a varied range of ICT products and services ,” says Ahmed CHERIF , Chief Executive Officer of VIPNET .
VIPNET will greatly benefit from being connected to Liquid ’ s extensive global network , enabling it to reach any location in Africa and allowing its regional customers to take advantage of Liquid ’ s Software-Defined Networking , SDN solutions .
The inclusion of Côte d ’ Ivoire as an onnet country further demonstrates Liquid Dataport ’ s commitment to broadening its footprint , ensuring access for wholesale clients to the same network that serves them across the rest of Africa .
VIPNET is a network and service operator whose main activity is the provision of Internet access and data services through national coverage in Côte d ’ Ivoire .
14 INTELLIGENTCIO AFRICA www . intelligentcio . com