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Enko Capital has invested in EV.Tech, a Côte d’Ivoire-based provider of electric vehicle charging infrastructure, through its Francophone West Africa SME (FCPR – Fonds Commun de Placement à Risques) Strategy.
The investment has been structured as hybrid financing and will support EV Tech’s expansion.
EV Tech is the first Ivorian company specialising in the provision of electric vehicle charging solutions. It has a network of 70 charging stations deployed across the country and strategic partnerships with major players in the transport and fuel distribution sectors.
“This investment by Enko Capital marks a new milestone in EV.Tech’s development. Beyond the confidence placed in this Ivorian start-up by a leading player in the financial sector, it will allow us to accelerate the roll-out of our infrastructure and to further our ambition of making electromobility a practical solution, accessible to the people and businesses of Côte d’Ivoire,” said Florent Thomas and Esther Dagri, co-founders of EV.Tech, in a joint statement.
Cyrille Nkontchou, managing partner of Enko Capital, commented: “We are delighted to support EV.Tech through this new phase of its development. The company has demonstrated its ability to deploy infrastructure that is essential to the development of Côte d’Ivoire’s electric mobility ecosystem. This investment represents the second transaction completed under the FCPR strategy, following our investment in Burger King Côte d’Ivoire, and reflects our commitment to supporting high-potential companies that play a driving role in the development of their sector and in value creation within the local economy.”
Cheikh Souleymane Diallo, senior investment director at Enko Capital, added: “Our investment in EV.Tech illustrates the flexibility of the FCPR strategy and its ability to offer financing solutions tailored to the specific needs of companies at different stages of their development. We are particularly confident in the outlook for the electric mobility sector in West Africa, driven by rapid urbanisation, rising fossil fuel costs, technological advances and the growing commitment of public authorities to the energy transition.”
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