Climate tech startup KOKO secures Rand Merchant Bank backing

RMB has partnered with climate technology leader KOKO, acting as the lead-mandated arranger and financier for an innovative carbon financing solution, amplifying KOKO's climate goals.

In Africa, more than 900 million individuals use polluting fuels like charcoal for cooking, contributing directly to extensive deforestation, causing over 600,000 deaths annually due to household air pollution, and emitting greenhouse gases on a scale comparable to the global aviation industry. To address this challenge, a comprehensive energy transition to clean and modern fuels is imperative across the continent.

KOKO is at the forefront of driving this transition, eliminating the demand for charcoal by supplying bioethanol cooking fuel to over 1.1 million homes through a sophisticated network of KOKO Fuel ATMs in numerous corner stores across urban Kenya. The resulting carbon revenues are shared with households as a non-government energy subsidy, facilitating even the most economically disadvantaged households in making the switch.