Kenyan climate tech innovator KOKO has announced a significant investment from Rand Merchant Bank (RMB), propelling its mission to revolutionize clean energy access in Africa. The groundbreaking deal marks a key milestone in KOKO’s journey and underlines RMB’s commitment to driving sustainable development across the continent.

KOKO, renowned for its bioethanol cooking fuel distributed through a network of high-tech “Fuel ATMs,” has successfully transitioned over 1.1 million Kenyan homes away from harmful charcoal dependence. This not only mitigates climate change by reducing deforestation and greenhouse gas emissions, but also improves health outcomes by minimizing harmful household air pollution.

RMB, a leading South African investment bank, has been a key financial partner for KOKO, previously acting as the lead mandated arranger and financier for its pioneering carbon financing solution. This latest investment signifies a deepening of their collaboration, with RMB recognizing KOKO’s immense potential to transform lives and the environment.

“RMB’s unwavering belief in KOKO and our vision for a cleaner, healthier Africa is truly inspiring,” remarked Greg Murray, CEO and co-founder of KOKO. “This investment will be instrumental in scaling our operations and reaching millions more households across the continent.”

Phil Norton, RMB’s Carbon Finance Lead, echoed this sentiment, stating, “KOKO’s innovative business model aligns perfectly with RMB’s goal of building a market-leading carbon trading and finance business in Africa. Their work not only generates carbon credits but also empowers communities, making this a true win-win partnership.”

The strategic investment paves the way for KOKO’s ambitious expansion plans, including venturing into new markets and further diversifying its clean energy product offerings. By harnessing technology and a customer-centric approach, KOKO aims to democratize access to clean cooking fuel and unlock a healthier, more sustainable future for generations to come.

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Nigel Jr.
As a tech enthusiast and expert, Nigel Jr. is dedicated to providing in-depth and insightful content on all things technology. With a background in online journalism, product reviewing, and tech creation, Nigel has become a trusted source for all things tech.

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