SOMALIA GOVERNMENT IN PARTNERSHIP WITH BARAKA INSURANCE LAUNCHES PIONEER HEALTH INSURANCE SERVICE

In a country like Somalia where achieving universal health coverage (UHC) and ensuring adequate healthcare financing is a challenge, what better way to curb this challenge than a partnership with a private sector to provide health insurance service for its populace. Universal health coverage (UHC) ensures all people have access to needed health services of sufficient quality without suffering financial hardship, and this is what the launch of the insurance service provides.

On Friday, the 2nd of February, 2024, an insurance service was launched at the Mogadishu Ceremony by Dr. Ali Hajiadam Abubakar, the federal Minister of Health who referred to the insurance scheme as a great opportunity to access quality healthcare and prevent diseases. He also mentioned that the government's involvement will be in terms of support and regulation to ensure its sustainability and transparency.

In attendance were government officials, bank representatives, hospital managers, and scholars who praised the innovation thus, serving as a collaborative effort towards the improvement of healthcare for the Somali people.

The insurance service known as Baraka Aaliye Care is a product of Baraka Insurance, a private owned company headed by Sakariya Ibrahim. This service offers a variety of packages, ranging from basic to comprehensive, depending on the needs and budget of the consumers. It is also affordable and infact, enrolling as a member or beneficiary of the service is way easier. The Baraka Aaliye Care insurance service is a part of a broader Private Sector Partnerships for Health (PSPH) project which was supported by the Swiss Development and Cooperation whose Memorandum of understanding was signed with the Swiss development agency for its completion in January 2022. The project's major aims include to strengthen the health system by enhancing private healthcare financing and service delivery; to improve access to quality and affordable healthcare for all Somalis, not excluding the most disadvantaged.

Founded in 2018, Baraka Insurance operates on the principles of cooperative insurance in compliance with Islamic Shariah laws. With a focus on mutual protection and profit sharing, the company offers a wide range of protection plans, including medical, motor takaful, and home coverages, among others. Central to its ethos is the concept of Takaful, signifying collective responsibility and solidarity in contributing to the well-being of others.

THE MATTEI PLAN; ITALY’S PRIME MINISTER'S SOLUTION AND DEVELOPMENT INITIATIVE FOR EUROPE AND AFRICA

Minister, Giorgia Meloni introduced the Mattei plan as a solution to two major problems faced by Italy in recent times; illegal immigration and consistent source of energy. This plan which depends on partnerships with Africannations, was revealed at the Italy-Africa summit in Romewhere the leaders and representatives of more than two dozen African countries from the United Nations, European Union, and the World Bank were present. 

THE MATTEI PLAN

This plan named after Enrico Mattei, founder of ENI (Italy’s national energy company) is driven by Prime Minister Giorgia Meloni’s goal for Italy to be the central hub transporting natural energy throughout Europe from Africa. This isfollowing the invasion of Ukraine by Russia in 2022, which laid to bare Europe’s dependency on Russia’s gas. The strategic plan involves decreasing that dependency and ensuring a consistent energy supply by turning to Africa where fossil fuels are surplus. 

The plan involves large scale investments in Africa, starting from North Africa to the South Saharan quadrant. Thisinvestment with an initial funding 5.5 billion euros, will not be focused on only energy but also education, health, agriculture and water interventions.

The energy investments are presented as motivation for these countries to be willing to collaborate, in a manner which she describes as “non-predatory, non-paternalistic, but also not charitable.” Prime Minister Meloni also said the Italy Government would garner support for financing thedevelopment plan from private businesses and global organizations like the European Union.

REASONS FOR THE MATTEI PLAN

One of Prime Minister Meloni’s promise before being elected was to reduce illegal migration. With this plan, she aims to address the primary causes of migration and tackle human traffickers by creating work opportunities, trainings and legal routes for migration in  African nations. Meloni also stated that to prevent  young Africans from moving out of their countries, investments should be made in the industrial and agricultural sectors in Africa by Europe to improve the local economies.

According to Prime Minister Meloni, Italy’s future depends also on the future of the African continent hence this initiative that has the ability to develop the African continent using its abundance of resources, was established.

ENI, the major energy supplier in Italy, has started getting gas from Africa since supplies from Russia has reduced. The business also stated that for now, Italy key gas suppliers will be Algeria, Egypt, and Libya.

 

RESPONSES FOLLOWING THE ANNOUNCED PLAN 

Following the conclusion of the Italy-Africa Summit, there were doubts about the capability of Meloni’s offer ofapproximately $6 billion as when compared to the European Union’s 2022 offer of  $160 billion. The reception of African nations to this investment is also still uncertain. The success of the plan depends on how it is received by the African nations and the plan’s ability to provide an effective answer to the complex problems being faced. Some also claim that with Italy’s pending debt, the country has a slimmer chance of competing with other countries like China, Russia, and the Gulf states. These countries are also trying to increase their impact in Africa. There are also some suggesting investments into green energy and not a focus on fossil fuels.

Moussa Faki Mahamat, chairman of the African Union Commission said at the summit that Africa should have been consulted initially on priorities and emphasized the necessity of fulfilling commitments. “I want to insist here on the need to move from words to actions. You can well understand that we can no longer be satisfied with mere promises that are often not kept,” he said, standing with Meloni at the summit in Italy. 

NGOs and civil society groups also felt that efforts should have been made to include local governments and communities while planning the investments and mentioned that there was nothing put in place for assurance and prevent being taken advantage of or theft of natural resources that has been a characteristic of past partnerships.

An agreement has however been formed between Italian Prime Minister Georgia Meloni and the President of the African Development Bank Group Dr Akinwumi Adesina to increase the alliance between Italy and Africa. Dr Akinwumi Adesina said the African Development Bank is willing to collaborate with the Italian government because “the Mattei Plan aligns with the priorities of  the Bank,” known as the High 5s.

The High 5s are to Light up and Power Africa, Feed Africa, Industrialize Africa, Integrate Africa and Improve the Quality of Life for the People of Africa

CONCLUSION

As Giorgia Meloni calls for a collaboration with Africa, the Mattei plan is her transformational proposal to improve economic relations, create an energy hub for Europe, and decrease immigration.

Somalia Celebrates Historic Milestone as it inaugurates its first aircraft MRO facility in 33 years.

In the past three decades, airlines offering services in Somalia faced the challenge of having to take their aircrafts for maintenance checks in other neighbouring African countries like Kenya and Uganda as there was no officially recognized facility for maintenance checks and repairs in Somalia.

The country's first Maintenance, Repair, and Overhaul (MRO) facility, also known as The Blue Hangar was officially opened by Ministry of Transport and Aviation, at Aden Adde International Airport, Mogadishu, on Wednesday, January 31, 2024. This would facilitate routine checks of all aircraft departing and arriving Somalia, thereby providing an avenue by which they can improve on safety and develop the air transport sector in Somalia.

Construction by Aerosom Company:

Aerosom Company, a construction company in Somalia ensured the construction of The Blue Hangar, the first operational aircraft hanger to be constructed in Somalia since the early 1990s.

Three years ago when foundation was being set at the airport, Duran Farah, former Minister of Transport and Civil Aviation to Somalia announced the project. This was a major step taken by the ministry of Transport and Civil Aviation, amongst others to increase the capacity and functionality of the airport following an increase in air traffic. At the time, Somalia had resumed aircraft registration after over 30 years.

The country's current Minister of Transport and Aviation, Fardowsa Osman Egal, inaugurated the facility and made a request for firms based in Somalia to invest in the air transport sector as well. And the upside added was simple - that businesses would likewise benefit from increased facilitation, as would the government and local community. In addition to this, through The Blue Hangar means of locally maintaining aircraft, it will further help in providing employment to a variety of personnel such as aircraft technicians, engineers, and other air transport expert.

Speaking at the same occasion, also addressing the inaugural ceremony, the Director General of the Somali Civil Aviation Authority, Ahmed M Hassan, brought to everyone's notice that the new MRO facility will would go a long way in assisting the country to meet her goals on global civil aviation standards.

This public-private partnership between the ministry of Transport and Civil Aviation as well as Aerosom Company clearly shows Somalia’s determination in developing its aviation infrastructure and readiness to be more relevant internationally in the aviation sector.

The current state of Somalia's aviation sector

The East African country, Somalia clearly illustrates how conflict and political instability can affect the aviation sector in a country. Most of the Somali facilities stopped all operations after the outbreak of the civil war during the early 90s, including Somali Airlines.

Though the political situation is yet to be stable, The air transport industry in Somalia has really improved bit by bit during the last couple of years. In January 2023, the Horn of Africa country's air traffic control services resumed after more than 30 years following the reclassification of the Mogadishu FIR as 'Class A.' Less than a month later, IATA signed a landmark agreement with Somalia to deepen cooperation in air transport.

At present, around eight airlines are operating passenger services in Somalia with the majority of these operating flights from Mogadishu. These include Ethiopian Airlines, Dallo Airlines, Qatar Airways, and Turkish Airlines. Last March, flydubai launched Boeing 737 MAX flights from Dubai to Mogadishu. This month, Kenya Airways also resumed its Nairobi-Mogadishu route.

The reopening of the first and so far only aircraft hangar in Somalia after the years of its closure, is a major boost for Somalia’s aviation sector as it provides safety and maintenance services for planes flying in the in and out of Somalia. With improved capabilities for aircraft maintenance and repair, Somalia is better placed to meet global standards and contribute positively to the international aviation industry.

FIKRCAMP'S UNIQUE APPROACH TO EDTECH IN SOMALIA

Various Edtech innovations in Africa are providing streamlined training programs and boot camps, equipping individuals with practical skills and offering global opportunities to address the digital skills gap problem. One such platform, FikrCamp, an online training platform launched in Somaliland, offers short courses in web development, coding, UI/UX design, and product management, targeting young individuals speaking Somali.

Fikrcamp's History

Fikrcamp, located in Hargeisa, was launched in February 2021 and has since achieved notable success. The platform has secured $40,000 in funding and generated $36,800 in revenue. The revenues were intended to give the organization a six-month operating budget.. Following its launch, the first batch of 16 students completed the program, with 10 of them securing employment through internships or full-time jobs. A total of 186 students have participated in over seven cohorts, with 117 of them gaining employment. Co-founder and director of product and operations at Fikrcamp, Ridwan Tukale, stated that these numbers demonstrate the platform's effectiveness in bridging the digital skills gap in Africa.

Fikrcamp has also expanded in Ethiopia and plans to provide digital skills to 500 Somali-speaking and 7,500 Amharic-speaking students in Ethiopia using its unique model for diverse regions and languages. Ridwan Tukale claims the goal is to expand our operations, boost student enrolments, and maintain a strong impact on Africa’s IT education environment. Despite the challenges of expanding into new regions with distinct cultures and languages, Fikrcamp remains committed to upholding its key mission and efficacy while adapting to these changes. Fikrcamp recognizes the significance of cultural sensitivity and respect for local customs and values. Before embarking on any new venture in a different region, thorough research is conducted, and partnerships are formed with local experts to gain a deeper understanding of the cultural nuances. This approach ensures that the program is culturally relevant and appropriately respectful of the local context. One of the partners from Addis Ababa, who is also based there, conducted extensive market research for the launch in Ethiopia.

Fikrcamp’s Unique Teaching Model

Fikrcamp recognizes the importance of tailoring its training programs to the local context in Somalia and the unique challenges faced by Somali-speaking youth. To ensure that the content is both accessible and culturally relevant, Fikrcamp offers courses in the Somali language. By prioritizing hands-on learning through projects, students gain practical experience and build a portfolio of technical skills that showcase their abilities to potential employers. Additionally, Fikrcamp understands the value of soft skills such as communication, problem-solving, and critical thinking, which are crucial for success in the digital space. While tuition fees, which can be paid upfront, quarterly or monthly, are charged for training and resources, Fikrcamp provides scholarships and financial aid to those in need or who demonstrate merit. The platform has established partnerships with employers, which can result in fees being covered or sponsorships for skilled individuals. Furthermore, Fikrcamp generates revenue through customized corporate training programs for organizations

Fikrcamp’s Mission

Fikrcamp’s curriculum is routinely reviewed to ensure alignment with industry trends, new technology, and market demands. They collaborate with IT employers to guarantee that graduates are well-prepared. They additionally encourage entrepreneurial thinking, preparing students to start tech-related firms and make decisions in the digital economy. Fikrcamp graduates had a 63% employment rate following graduation, confirming the boot camp’s proficiency in generating job-ready professionals.

As co-founder, director, and lead instructor Abdulladif Roble puts it, “Fikrcamp is committed to its mission. The goal of the boot camp is to provide African youths with the necessary digital skills and opportunities needed to thrive in the industry.

Nim’an Bashir, a graduate of Fikrcamp, found the four-month program to be more valuable than his three years at university. He attributes this to the guidance of Abdulladif Roble, the founder and lead instructor of Fikrcamp, as well as the mentors he worked with. Bashir developed not only technical skills but also strengthened his critical thinking, problem-solving, and logic abilities. He claimed to have initially struggled with imposter syndrome, comparing himself to more experienced coders, but he overcame this challenge by pushing through and building his skills.

Another graduate of Fikrcamp, Nemo Rashed, described the experience during the program as a watershed moment in her life. She acquired essential skills during the intensive program, including networking, interpersonal communication, and career development. The boot camp also honed her critical thinking, problem-solving, and logical reasoning abilities, which have proven useful in her studies and future endeavours .

Conclusion

Fikrcamp dedication to fostering local and home-grown tech talent is evident in its innovative teaching approach. Unlike traditional tech education providers, the boot camp teaches tech courses in the student’s native language. This approach improves the learning experience and creates an inclusive environment for students. They go a step further to bridge the gap between education and the industry by connecting these skilled individuals to prospective employers in both the international and local markets

Edtech startup, AltSchool Africa, Expands Its Reach to Kenya in East Africa

Kenya will be AltSchool Africa’s second initiative in East Africa after Rwanda. AltSchool Africa is a Nigerian educational technology (edtech) firm and has officially announced its expansion into Kenya. In order to help Africans transition into global technology professions, the organization offers a wide range of in-demand tech courses. With the position of country manager, Tabitha Kayvu leads the Kenyan division.

Established in 2021, AltSchool has rapidly gained traction in the edtech landscape. Its financial foundation received a significant boost with a $3 million investment in May 2023, coupled with an additional $1 million in pre-seed funding earlier the same year. The success of AltSchool extends beyond Kenya, with a strong presence in the United States and Rwanda, attracting learners from an impressive 105 countries. The platform currently boasts over 60,000 learners hailing from more than 100 countries.

Adewale Yusuf, one of AltSchool's co-founders, envisions a future in which ten million Africans have the skills required to find meaningful work and contribute to the continent's economic progress. He ranks Kenya as AltSchool's second-largest market, after only Nigeria. The decision to expand operations to Kenya has been driven by the country's high enrolment numbers..

Head of Growth and Partnerships at AltSchool Nifemi Akinwamide said that the company is in continuous communication with Kenyan communities and organizations, stressing that the growth is in line with the company's goal of providing Africans worldwide with the necessary skills to take advantage of opportunities in technology. Akinwamide makes vague mention of intentions to open in additional African nations where AltSchool has had notable success.

AltSchool Africa, despite providing virtual education, places a strong emphasis on building offline communities and partnerships for its learners. This strategy, successfully implemented in Nigeria, will be replicated in Kenya. Akinwamide stresses that the start-up’s focus extends beyond ensuring students merely graduate; rather, the emphasis is on ensuring learners understand what employers seek before completing their training.

Initially, AltSchool Africa concentrated on offering one-year diploma courses in software engineering. Over time, the edtech start-up has diversified its offerings, introducing new courses covering data engineering, sales, fintech product management, and digital marketing. The platform is organized into five distinct schools: data, engineering, business, product, and creative economy. AltSchool Africa now features short courses on sales, content, and music creation. Yusuf affirms that these course offerings will be maintained in Kenya and will be conducted in English, with future plans to introduce courses in Swahili.

AltSchool Africa adopts a flexible pricing model ranging from $20 to $50 per month for the duration of its courses. Additionally, the platform embraces the income-sharing agreement (ISA) model, a popular approach in the edtech industry. Under this model, students agree to share a percentage of their future income in exchange for reduced upfront costs.

The pressing gap between Africa’s ten million job seekers and the three million employed underscores a significant skills mismatch. AltSchool Africa offers itself as a bridge, providing students with globally sought-after skills in business, analytics, engineering, media, and the creative economy. The platform's expansion into Kenya demonstrates its commitment to solving this crucial need at a larger scale. As AltSchool Africa expands its footprint, it plays a critical role in altering the educational environment and educating African students for the challenges and opportunities of the global technology-driven economy.

3 million USD raised by Kenyan eyewear startup, Lapaire to expand across Africa

The Kenyan eyewear startup, Lapaire, has successfully raised $3 million in financing to facilitate its expansion across the African continent. This significant investment round was led by Investisseurs & Partenaires (I&P), with noteworthy participation from AAIC, FINCA Ventures, and Beyond Capital. The injection of funds positions Lapaire strategically to advance its mission of providing accessible eye care solutions throughout Africa.

Following the successful completion of this financing round, Lapaire is poised to embark on an ambitious plan to open 300 eye care centres. An additional 80 locations are earmarked for establishment in 2024, creating a robust network of eye care facilities. This expansion initiative is not only a testament to Lapaire's commitment to enhancing eye care accessibility but also a substantial contributor to employment generation. The plan includes the creation of at least 250 jobs, encompassing roles such as eye specialists, branch managers, sales representatives, and various support positions.

Lapaire has already established its presence with 58 locations across six African nations: Ivory Coast, Togo, Benin, Mali, Burkina Faso, and Uganda. This existing network serves as a foundation for Lapaire's broader strategy, which focuses on consolidating its position in established areas like Ivory Coast, Togo, Mali, and Uganda. The subsequent phase involves expanding into additional African countries, demonstrating Lapaire's commitment to making eye care accessible on a pan-African scale.

Since its inception in 2018, Lapaire has been dedicated to addressing the neglected health sector of eye care in developing nations. In countries such as Kenya and across Africa, accessing eye treatment has been an expensive endeavour, leaving this critical aspect of healthcare underprioritized. Lapaire aims to change this narrative by positioning itself as Africa's premier eyewear brand, with plans to establish clinics initially in major cities and subsequently in rural areas.

The impact of Lapaire's efforts thus far is evident in its claim of providing over 300,000 free eye examinations to prospective clients and delivering eyeglasses to 180,000 individuals. The company identified two primary barriers to widespread spectacle wear among Africans: the prohibitive cost and a lack of awareness. Lapaire addressed the awareness issue by conducting free eye exams, ensuring that individuals were informed about their visual health. To tackle the cost challenge, Lapaire introduced a flexible payment option, allowing customers to pay for their glasses over time. This innovative approach includes a variable payment option, with customers required to pay only 30% of the total purchase amount upfront.

The Lapaire group, which comprises over 300 dedicated individuals, focuses on providing attractive and affordable spectacles to everyone. While eye specialists play a crucial role, a notable aspect is that 80% of the workforce comes from diverse professional sectors. Joséphine Amouroux, Head of Talents & Communications at the Lapaire Group, highlights that many candidates are surprised to discover the range of vocations available at Lapaire, beyond the traditional roles of Opticians and Salespeople. The company's structure encompasses Finance teams managing accounting, Marketing and Communications teams nurturing Lapaire's brand image, Supply Chain teams overseeing product sourcing and logistics, and HR teams driving workforce expansion and skill development through digital tools.

Recognizing the importance of openness and diversity, Lapaire places a strong emphasis on a hiring strategy based on gender equality. This commitment is reflected in the company's achievement of having 49% women in group positions and 32% women in managing roles. Lapaire strives to foster a meritocracy-based, safe work environment, where women can thrive and men contribute positively to closing the gender gap.

Jerome Lapaire, founder and CEO of Lapaire, expresses the company's readiness to accelerate expansion and positively impact the lives of one million people throughout the continent by 2026. Approximately 35% of Africans experience visual problems that can be addressed with eyeglasses. However, the cost of obtaining a pair of glasses remains a barrier for many. In the rapidly expanding digital health sector in Africa, vision care emerges as a viable niche, fueled by increased insurance coverage and a younger demographic driving demand.

Lapaire's vision extends beyond eyewear retail; it aspires to become Africa’s go-to eyewear brand, making clear vision accessible to all. The company's strategic plan to establish eye care centres reflects its commitment to addressing the prevalent visual problems in Africa. By expanding its reach into major cities and eventually rural areas, Lapaire aims to provide high-quality eyeglasses at reasonable prices, empowering individuals to lead fuller lives with clear vision.

In conclusion, Lapaire's recent funding success positions it at the forefront of the eyewear sector in Africa. The investment not only fuels expansion but also contributes to job creation and reinforces Lapaire's commitment to making eye care accessible across the continent. As Lapaire continues to innovate and expand its reach, it plays a pivotal role in shaping the landscape of eye care in Africa.

Undisclosed amount of funding from Rand Merchant Bank (RMB) received by "KOKO" a Kenya-based climate-tech company

Rand Merchant Bank (RMB), a distinguished African corporate and investment bank, has taken a commendable stride in its commitment to advancing green energy and forest conservation across Africa. This commitment extends beyond sponsorship, as RMB has made a direct investment in the climate tech start-up, KOKO, as part of its broader carbon business growth project. This strategic move aligns seamlessly with RMB's dedication to propelling sustainable energy solutions on the continent.

KOKO, an innovative impact-investing start-up, is at the forefront of environmental consciousness, aiming to redefine cooking solutions in Africa. The core mission of the company is to introduce greener and more contemporary cooking alternatives, and this mission has received substantial support through RMB's recent investment.

CEO and co-founder of KOKO, Greg Murray, expresses the belief that RMB's investment showcases a profound commitment to leveraging carbon for the improvement of lives in Africa. This partnership is deemed crucial in driving the expansion of KOKO's platform across the continent.

Phil Norton, Carbon Finance Lead at RMB, takes pride in the collaboration with KOKO, emphasizing the shared goal of fostering rapid growth while providing affordable and low-emission energy to millions in Africa. This joint venture seamlessly aligns with RMB's broader objective of establishing a market-leading carbon trading and finance company to serve clients throughout Africa.

This strategic collaboration with KOKO closely aligns with The Nairobi Declaration, a recently unveiled strategic approach in Africa that leverages carbon to finance the continent's energy transition and nurtures the development of the African carbon market. Nigel Beck, Head of Sustainable Finance and ESG Advisory at RMB, emphasizes the significance of adhering to this strategic declaration.

The Nairobi Declaration, a pivotal element of Africa's negotiating posture at COP28 Dubai, plays a crucial role in steering the continent towards a sustainable energy transition. Rand Merchant Bank's support comes at a crucial juncture when carbon trading is gaining global momentum, and Africa stands to benefit from financing, which promotes long-term growth.

Charcoal remains a dominant fuel for cooking in urban Africa, as highlighted by the U.N. Food and Agriculture Organization (FAO). With over 900 million Africans relying on harmful fuels like charcoal, resulting in massive deforestation, indoor air pollution, and substantial greenhouse gas emissions, KOKO's mission takes on heightened importance. The transition to contemporary, clean fuels becomes imperative for the entire continent.

KOKO, with its pioneering approach, aims to replace unhealthy solid fuels across the continent with its renewable fuel dispenser. The start-up advocates for liquid bioethanol cooking fuel as a quick, safe, and cost-effective alternative to polluting cooking fuels like charcoal. The deployment of distribution, dispensing, and end-use technologies ensures that customers can access clean fuel at more affordable rates than polluting fuels.

KOKO operates a micro-distribution network of fuel ATMs, providing liquid bioethanol cooking fuel to informal communities. Customers, using smart canisters, can conveniently obtain KOKO Fuel from a widespread network of 2,500 advanced KOKO Fuel ATMs situated in convenience stores throughout urban Kenya. The fuel is used in modern 2-burner cookers, producing a clean blue flame akin to cooking with gas. This renewable bioethanol cooking fuel is derived from sugar molasses. The coordination of payments, fuel distribution, and data is efficiently managed by KOKO Cloud, ensuring safety, quality, and excellent customer service.

Crucially, KOKO's reduction of carbon emissions aligns with global compliance and voluntary carbon markets. Revenues generated from the sale of high-quality carbon credits are shared with Kenyan households, serving as a non-government energy subsidy that makes the solution affordable even for the most impoverished individuals. This innovative approach is instrumental in driving KOKO's mission to create a positive impact on both the environment and the lives of the people it serves.

KOKO proudly claims to have served 1.1 million Kenyan households with bioethanol, and its pay-as-you-go fuel strategy aims to reduce dependency on polluting solid fuels. As a technology company founded in 2014, KOKO continues to expand its reach, currently serving approximately one million households across eight cities in Kenya. Supported by a robust regulatory framework and backing from the Government of Kenya, KOKO's bioethanol cooking fuel utility represents a transformative solution in service of the Kenyan people.

In 2021, KOKO received prestigious recognition as the world’s leading emerging markets climate technology solution by FT / IFC Transformational Business Awards. Additionally, being acknowledged as a "Lighthouse" project by the African Carbon Markets Initiative underscores the integrity of KOKO's business model.

KOKO's impact extends beyond its utility operations, directly employing 2,000 staff and supporting the incomes of an additional 15,000 Kenyan families involved in the bioethanol supply chain. The collaboration between KOKO and Rand Merchant Bank exemplifies a broader shift towards environmentally conscious solutions in Africa. This partnership not only supports KOKO's mission to revolutionize cooking solutions but also signifies a shared commitment to sustainable energy transition and forest conservation on the global stage.

Rand Merchant Bank's investment in KOKO serves as a testament to the potential impact when financial institutions join hands with innovative start-ups in driving positive change. Kenya, through initiatives like these, solidifies its position as a leader advocating for a shift to green energy on the global stage.