RMB has recently entered into a strategic partnership with climate technology pioneer KOKO, marking a significant commitment to carbon business growth.
KOKO, a leader in the climate technology sector, has established a reputation for innovative solutions to environmental challenges.
In this groundbreaking partnership, RMB has played a crucial role as the lead mandated arranger and financier. This move is set to further boost KOKO’s efforts in combating climate issues, particularly in Africa where the challenge is most acute.
KOKO’s mission is clear: to lead a continent-wide energy transition in Africa, targeting the replacement of polluting fuels like charcoal with cleaner alternatives. They have already made impressive strides, supplying over 1.1 million homes with bioethanol cooking fuel, distributed through a network of high-tech KOKO Fuel ATMs in urban Kenya. This innovative approach not only reduces greenhouse gas emissions but also shares carbon revenues with households, facilitating an affordable energy switch.
Phil Norton, Carbon Finance Lead at RMB, expressed pride in the partnership, highlighting RMB’s commitment to affordable and lower emissions energy solutions in Africa. “We are proud to partner with KOKO in supporting their continued rapid growth while bringing far more affordable and lower emissions energy to millions of people in Africa. As a pan-African investment bank, this deal fits well within our ambition to build a market leading carbon trading and finance business operating across Africa, serving both existing and new clients.”
KOKO’s CEO & Co-Founder, Greg Murray, lauded RMB for its strong conviction in harnessing carbon for transformative impact. “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.”
Nigel Beck, Head of Sustainable Finance and ESG Advisory at RMB, emphasized the partnership’s alignment with the Nairobi Declaration and its role in developing the African carbon market.
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