Kenyan climate-tech startup has KOKO has raised an undisclosed amount of funding from Rand Merchant Bank (RMB). The resultant carbon revenues are shared with households as a non-government energy subsidy, enabling even the poorest households to switch. “We’ve 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,” said Greg Murray, CEO and co-founder of KOKO. Phil Norton, carbon finance lead at RMB, said he was proud to partner KOKO in supporting its continued rapid growth while bringing far more affordable and lower emissions energy to millions of people in Africa.
