“Climatetech presents a long-term opportunity for investment with significant growth potential,” believes Jean-Gabriel Dayre, senior investment officer in private equity and venture capital at Proparco, a French bilateral development finance institution.
Participating in a panel discussion on innovation in low-carbon growth at the AfricArena Nairobi Summit, Dayre noted the importance of supportive regulatory environments and the growth of investments in decentralised renewable energy across the continent.
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He emphasised that climatetech was not just a mere short-term trend but a long-term opportunity for investment, with significant growth potential.
“While there has been a decrease in volumes of investments at the beginning of this year, what we should be mindful of is the amazing growth that has been happening in Africa overall in the VC space since 2016,” Dayre said.
The panel discussion was moderated by Charlie Perreau, head of the start-up department at Les Écho, a daily financial newspaper in France. One of the key themes of the discussion was the shift in focus among young technology entrepreneurs. They are increasingly transitioning from traditional sectors like fintech to climatetech, reflecting a growing awareness of environmental issues and the opportunities for sustainable solutions.
Jérôme Guididjago, head of innovation at commodity platform Bbox, introduced his company’s mission to provide essential products to rural communities in Kenya, highlighting the critical role of innovation in addressing basic needs such as electricity and water access.
Guididjago stated, “We are committed to providing essential products to rural communities in Kenya, particularly in the energy and water sectors.”
Bbox is making waves as a data-driven super platform on a mission to revolutionise Africa by connecting consumers with innovative products. It provides both technology and financing, aiming to transform lives and drive economic development.
Collaborating with governments and international partners, Bbox is committed to achieving the UN’s Sustainable Development Goals, added Guididjago. With a focus on clean energy, clean cooking, smartphones, and e-mobility, it is making substantial progress and expanding through strategic partnerships and strong investor support, including a notable joint venture with EDF in Togo and backing from Mitsubishi Corporation.
Guididjago said, “The way we think of innovation is a bit different. We started with solar systems. The goal was to empower communities and to impact communities that are underserved. That was our goal when we started.”
Meanwhile, Christ-Anderson Ahoua Boua, head of communications for EDF Africa, stressed the significance of innovation in Africa’s context. He emphasised three key observations: the rapid digitalisation, increasing involvement of women in entrepreneurship, and the role of large companies like EDF in fostering innovation.
The panel furthermore delved into the challenges facing climatetech start-ups in Africa, including securing financing, navigating complex regulatory landscapes, and adapting solutions to diverse African markets. The participants recognized that innovation in Africa is not a one-size-fits-all approach and emphasised the need to adapt solutions to each country’s unique circumstances.
The discussion concluded by highlighting the wealth of talent in Africa, with an increasing number of skilled professionals and entrepreneurs committed to addressing pressing challenges. The panellists expressed optimism about the future of innovation in low-carbon growth and underscored the importance of collaboration between governments, start-ups, and larger corporations to foster sustainable development.
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