As the global push for sustainable solutions intensifies, Africa-focused investors are placing bold bets on technology’s ability to address the escalating impacts of climate change. Across sectors like energy, agriculture, waste management, and manufacturing, founders are driving innovation to reduce emissions, improve efficiency, and foster sustainability. Since 2019, Africa’s climate tech innovators have secured over $3.4 billion in funding, showcasing remarkable resilience and growth despite global economic challenges.
Similarly, Ghana’s climate tech sector is gaining significant traction. As part of our 2024 wrap-up, we spotlight the investors and ecosyem enablers who are providing the much-needed patient capital and business development support to Ghana’s climate tech entrepreneurs, accelerating the transition to a greener and more sustainable economy.
Ghana Climate Innovation Centre
Why its work matters: Ashesi Univeristy’s Ghana Climate Innovation Centre has played a pivotal role in incubating green companies since its inception in 2016. This year, the centre graduated its ninth cohort of incubatees consisting of 26 entrepreneurs from diverse sectors, including climate-smart agriculture, domestic waste management, and energy efficiency. By graduation, the cohort had grown its revenue by 238% and sequestered 30,000 metric tons of carbon.
To accelerate the impact of the centre its signed a EUR 1.2 million partnership with the German Development Agency (GIZ) to build the capacities of SMEs to operate sustainably.
Innohub
Why its work matters: Innohub one of the leading venture builders in the country was one of the local implementing partners of the the recently concluded Clean Cooking Alliance Venture Accelerator. With the limited going to the clean cooking sector, the accelerator focused on building a pipeline of clean cooking companies attractive to investors. The program helped the companies to build their capacity and prepare to attract carbon finance.
Mirepa SME Fund
Why its work matters: The GHS 120 million SME Fund provides patient risk capital to early-stage businesses and SMEs dedicated to sustainable practices. This year, the fund welcomed Wami Agro and True Moringa to its portfolio, both making direct contributions to combating climate change. Wami Agro supports climate-smart agriculture within its farmer network to reduce methane emissions, while True Moringa plants drought-resistant moringa trees, which require minimal water and capture 20 times more carbon than typical vegetation.
PASH Global
Why its work matters: PASH Global is an impact investor in the clean energy sector. It partnered with Kofa Technologies to implement a £6.15 million battery swapping network in Ghana with support from Shell Foundation and UK Government. The project will provide reliable, affordable, and clean energy for electric two-wheelers, while simultaneously powering small businesses and homes that currently rely on petrol generators.
Additionally, the company also entered into a strategic partnership with MAX, Africa’s leading mobility and electric vehicle platform to invest $10 million in expanding Nigeria’s electric vehicle infrastructure. This project will develop a network of EV charging stations across urban centers.
Sahara Impact Ventures
Why its work matters: Sahara Impact Ventures is a new fund founded by the Ex-Wanagra Green Ventures partner, Yvonne Ofosu-Appiah and Mandy Nyarko, the co-founder of Startup Discovery School. The firm is currently raising its inaugural $30 million fund to invest in sustainable food systems and clean energy in Ghana and Nigeria. The fund will write cheques between $300,000 to $2 million through a combination of equity and quasi-equity instruments, including convertible loans, revenue share, and other mezzanine self-liquidating instruments.
Startup Discovery School Africa Venture Studio
Why its work matters: SDS Africa designs programmes that enable an inclusive just transition by empowering entrepreneurs with funding, resources and expertise for a better and fairer world. Earlier in the year, it partnered with Sahara Impact Ventures, Autodesk Foundation and Academic City University College to implement the inaugural Climate Champion Competition which awarded$3,000 to the most scalable climate technology startup in Ghana.
It also established West Africa’s first gender-lens venture studio, a nine-month program offering founders hands-on support, software tools, and tailored mentorship to execute their strategic roadmap.
Wangara Green Ventures
Why its work matters: Wanagara provides the much needed patient capital that early stage companies require to scale. It invests between up to $500,000 in equity and quasi-equity in renewable energy, energy efficiency, waste management, water management, climate smart agriculture and generally climate friendly businesses. This year, the firm added Sommalife, shea-foucsed agtech to its portfolio.
