The appointment of PwC as administrator is the first formal step in dealing with a collapse that had already played out.

Muniu Thoithi and George Weru of PwC were appointed joint administrators on February 1 under the Insolvency Act 2015. 

From that point, control of the company’s assets and decisions moved away from management. 

“The primary objective of administration proceedings is to allow Administrators to explore ways of rescuing the company as a going concern where feasible or achieving a better outcome for the creditors of the company than would be in the case of a liquidation,” the notice said.

By the time PwC arrived, the damage was already visible. On January 31, more than 700 employees were laid off as Koko’s fuel distribution slowed and, in many areas, stopped. 

Customers in low-income neighbourhoods who depended on the company’s ethanol refills were left without supply. 

At its peak, Koko served between 1.3 and 1.5 million households through about 3,000 automated fuel shops in Kenya and Rwanda, though the Rwanda operation had been paused earlier.

What finally broke the business was regulatory. Koko had spent months seeking a Letter of Authorisation that would allow it to sell carbon credits internationally. 

Those talks were described by people close to the company as “going well” until last week, when a senior official rejected the application and “trashed every progress” made. 

That decision shut the door on carbon revenues that investors had tied to more than $300 million in equity, debt and guarantees.

Without that income, the numbers no longer worked. Koko sold two-burner smart stoves at KES 1,950 ($16), far below cost, and kept fuel prices as low as KES 30 ($0.23). Carbon credits were meant to carry the loss. They never came.

Pressure had been building long before the final decision. In April 2024, Kenya’s Energy and Petroleum Regulatory Authority suspended bio-ethanol imports. 

Koko was forced to rely on a more expensive local supply, which disrupted logistics and tightened margins. By late 2025, fuel shortages had become frequent, even as the company tried to keep its network running.

Big names backed the expansion. Microsoft’s Climate Innovation Fund, Verod-Kepple, Mirova, Rand Merchant Bank and the World Bank’s Multilateral Investment Guarantee Agency, which provided a $179.6 million guarantee, all supported the company at different stages.

PwC now faces the options of assessing whether any part of the Koko Networks business can be rescued, or winding it down in a way that returns more to creditors than liquidation would. 

Creditors have been given 14 days to submit claims.

The post PwC Takes Control of Koko Networks After Clean-Cooking Startup Enters Administration appeared first on Tech | Business | Economy.

In her new role, Adesanya will oversee Bboxx Nigeria’s participation in the Distributed Access through Renewable Energy Scale-up (DARES) fund.

The company plans to reach more than 100,000 households in 2026, providing off-grid solar systems, solar-powered irrigation for farmers and financing for smartphones.

Anthony Osijo, Group CEO, Abci-Nexus, said: “I am delighted to welcome Ene into the role of Managing Director for Bboxx Nigeria. This transition highlights Bboxx’s commitment to developing internal talent, promoting from within and ensuring consistent, strong leadership as we continue to double down on our key markets.”

Adesanya brings over 17 years of experience in finance and business leadership. Prior to her appointment, she served as Head of Finance at Bboxx Nigeria, where she supported market expansion, strengthened financial governance, and delivered value across both commercial and donor-funded programmes.

“I joined Bboxx because I believe in building sustainable, impact-driven energy businesses that deliver real change,” Adesanya said:

“Through our participation in the DARES fund and our range of energy and financing solutions, we are well-positioned to significantly expand access to essential services for Nigerian households and businesses in 2026 and beyond.”

Adesanya succeeds Ernest Akinlola, who stepped down at the end of January after five years in the role. While he is no longer managing day-to-day operations, Akinlola will continue to support the business as a member of the Bboxx Energy Access Nigeria board.

Osijo acknowledged his contribution, saying, “I would like to thank Ernest for his significant contributions to Bboxx Nigeria; during his time here, he has helped drive the renewable energy agenda in Africa’s most populous country.”

The post Bboxx Appoints Ene Adesanya as Nigeria Managing Director appeared first on Tech | Business | Economy.

Though important to the economy, most still lack adequate financing, and many operate on thin margins with limited power access. 

These same businesses are now facing two major changes at the same time, the need to operate sustainably and the spread of green technology.

Green technology, clean energy, efficient processes, waste innovation and climate‑smart leverage, are changing markets worldwide. My argument is for African SMEs, sustainability need not be a cost centre or an aspirational label. 

With the right mix of policy, finance and adoption, green tech can be a profit engine, making SMEs stronger, more resilient and more competitive.

Top Policies to Watch: 2026 as Year of Institutional Discipline

SMEs: The Backbone of Africa’s Economy

Across the continent, SMEs make up the majority of businesses, informal and formal, and are vital to jobs and growth. They generate over half of Africa’s economic output. In low‑income economies, their share is usually over 50%. 

Meanwhile, less than a fifth of them have access to formal credit, leaving a massive investment gap. 

They are agile. They innovate. But they also feel immediate pressures such as high energy costs, unreliable electricity, and limited access to modern tools. That’s where green tech steps in.

What Green Tech Means for SMEs

Green tech is usually described at a national or multinational scale, but for SMEs, it’s far more concrete:

• Clean Energy: Solar panels and mini‑grids are now more affordable than ever. They replace expensive diesel generators and provide more reliable power.
• Climate‑Smart Agriculture: Irrigation tech, soil health systems and drought‑resistant methods help farms produce more with less risk.
• Circular Economy Innovation: Recycling and waste‑to‑value models turn disposal costs into revenue streams.
• Efficiency Tools: Software and sensors help track and reduce energy, water and fuel use.

These technologies directly relieve cost pressures that have long throttled small businesses.

Turning Sustainability into Profit

The common misconception is that sustainability means higher costs. That’s really not the case:

1. Lower Operating Costs

Energy is a top expense for many SMEs. Solar power and energy‑efficient equipment cut utility bills and stabilise cash flow. Diesel generators are expensive and unreliable; solar kits paired with batteries provide a predictable cost base and reduce downtime. 

Recently, many African nations doubled imports of solar panels, showing expanded adoption of off‑grid clean energy solutions. 

2. New Revenue Streams

Green tech opens revenue paths that didn’t exist before:

• Excess energy sales: Micro solar and wind installations can feed local grids in some markets.
• Green services and products: Eco‑certified goods attract premium buyers domestically and internationally.
• Carbon and sustainability financing: As investors move to climate‑aligned assets, businesses with measurable sustainability credentials gain access to new capital pools.

In Nigeria, for example, SME sector frameworks now channel climate finance toward climate‑smart business practices, providing tax incentives and credit support for firms adopting environmental, social and governance (ESG) criteria.

3. Competitive Advantage

Consumers are paying attention. In urban markets especially, buyers value brands that reduce waste or support local sustainability. This trend influences buying decisions, pricing power and marketing stories.

Limitations and Solutions

Of course, the transition isn’t automatic. SMEs face some limitations:

• Financing gaps: The IFC estimates a funding shortfall in sub‑Saharan Africa exceeding $300 billion for SMEs. 
• Infrastructure deficits: Reliable transmission, storage and connectivity are still uneven, meaning some green tech can’t reach scale without support.
• Skills and capacity: Even affordable tech requires basic training and maintenance skills.

But solutions are emerging. Blended finance, where development finance, private capital and risk guarantees come together, is gaining ground. 

African financial institutions have pledged more than $100 billion for green growth initiatives, aiming to support renewable adoption and sustainable trade. 

There are also targeted funds focused on SMEs. For example, a $150 million solar green bond was launched to support rooftop installations and other productive uses for small businesses.

Policy and Finance: A Macro View

A supportive policy environment is important. Governments that extend tax incentives, import duty breaks on clean tech and clear sustainability standards make it easier for SMEs to adopt innovations. 

National climate strategies that link SME development with energy transition targets align private and public objectives.

At the same time, climate finance flows into Africa are increasing but still far below needs. Recent data show funding grew nearly 50% in a short period, yet meets only about a quarter of the amounts required to fulfil climate commitments by 2030.

Sound policy can bridge that gap, combining international funds with domestic private sector mobilisation.

Across the continent, green tech is already changing business trajectories:

• In rural villages of Mali and beyond, solar mini‑grids are enhancing local commerce, reducing daily energy costs and enabling businesses like welding shops and bakeries to thrive.
• In South Africa, programmes that open the energy market to private producers are expanding renewable capacity and encouraging SMEs to invest in their own energy solutions. 

These are templates, scalable, replicable and profitable.

With Africa’s population projected to approach 2.5 billion by 2050 and energy demand set to surge, green tech adoption is indispensable. 

The renewable transition is a chance to leapfrog legacy infrastructure and unlock prosperity aligned with climate resilience.

SMEs are nimble, they touch communities and can lead this change. They can scale change faster than large firms burdened by legacy systems. So long as financing, policy and capacity building advance together, green tech can be an engine of both sustainability and profit.

What SMEs Should Do Now

1. Get the basics right: Audit energy and resource use to identify quick savings.
2. Explore blended finance: Seek partnerships that de‑risk green investments.
3. Build competencies: Train staff on energy management and digital tools.
4. Tell your story: Document sustainability metrics to unlock premium markets and capital.

SMEs in Africa have long been engines of growth and now they are at the brink of another chapter, 2026, where sustainability is a driver of profitability, not a burden. 

Green tech isn’t just an add‑on but a strategy, and those who leverage it early will thrive well.

The post Why Green Tech Could Become the Next Profit Engine for African SMEs appeared first on Tech | Business | Economy.

But they cannot act in isolation. Government, donors and the private sector need to move as one if resilience is to take root in Nigeria.

In late May 2025, flooding in Mokwa in Niger State killed at least 117 people and left several still missing. Earlier, heavy rains destroyed homes and claimed at least 21 lives in north-central Nigeria. 

On August 6, the federal government issued flood alerts for 19 states, warning of further extreme rainfall between August 5-9. 

These events show a pattern of high climate risk: poor drainage, urbanisation, infrastructure vulnerability and changing rainfall patterns all combine to raise the stakes for agriculture, food security and human lives.

Why this is important – the drivers

• Scale of the hazard. Floods are not occasional. The Mokwa event was one of the deadliest in recent years. Lives and livelihoods are being wiped out.
• Underlying drivers. Rapid urban growth, informal settlements without drainage, old dams or reservoir‐releases (the latter implicated in past flood alerts) and infrastructure that wasn’t built with climate resilience in mind. 
• Financial gap. According to the latest report by Climate Policy Initiative, Nigeria mobilised about $2.5 billion in climate finance in 2021/22, up from $1.9 billion in 2019/20, but the annual gap (the amount needed vs the amount mobilised) is around $27.2 billion. 
• Data & systems weakness. There are limited hydrological sensors, weak last-mile alerting, and procurement systems that favour large infrastructure over agile tech-solutions.

What startups can build (and why)

Here are four areas of opportunity where startups can move from idea to impact.

1. AgTech for small-holder resilience

Startups can deliver climate-smart advisory (micro‐weather + seasonal forecasts), flood/drought-tolerant seed systems, bundled micro-insurance linked to weather triggers, and credit for replanting after floods. 

The reason: agriculture is highly exposed; floods destroy farmland and disrupt planting cycles. A viable business model could be subscription advisory plus revenue share on inputs and insurance commissions.

2. Urban resilience & data-driven infrastructure

A startup might build flood-risk mapping using satellite & local sensors, dashboards for municipalities or utilities, plus partnering with local contractors for nature-based drainage solutions. 

Drainage failures, particularly in fast-growing urban zones, magnify losses. Monetisation may come via B2G contracts (municipalities), and SaaS for decision-makers.

3. Disaster early-warning & last-mile alerting

Existing forecast agencies (e.g., the Nigeria Meteorological Agency and Nigeria Hydrological Services Agency) generate data. The gap is last-mile: reaching communities with actionable alerts, setting up evacuation triggers, and automating cash transfers tied to events. 

Startups can provide alert platforms, community-volunteer networks, and cash-trigger logic. Revenue comes from contracts with federal/state agencies or donors financing early‐warning programmes.

4. Data & risk-finance platforms

Startups can build APIs that feed river/dam sensor data, flood-indexes for insurers, and platforms that match resilience projects with blended finance. 

This matters because insurers, lenders and investors require data and pipelines to underwrite risk and invest in adaptation. Business models: licensing data/APIs, performance-based contracts, or match-making fees.

Real barriers—for clarity

I don’t want to sugar-coat it. To succeed, startups must navigate tough obstacles:

• Demand and payment risk. Many users (farmers, low-income communities) either cannot pay or are unwilling; commercial viability is weak without subsidy or public procurement.
• Procurement friction. Governments usually prefer big infrastructure contracts; small pilots are easier but scaling is slow.
• Finance constraints. As CPI found: “affordability of finance” and “limited supply of bankable projects” are major limitations. 
• Data gaps & interoperability. Without local sensors, standardised APIs or institutionalised data-sharing, solutions remain brittle.
• Policy/regulation lag. If legal frameworks, open data mandates and procurement reforms don’t keep pace, startups are left in limbo.

Government role – what must happen

If I were advising a government, I’d urge these five actions:

1. Commit to rapid procurement windows: allocate dedicated budgets for resilience tech (not just studies) so startups can contract and scale.
2. Mandate open data/ APIs from agencies like NiMet and NIHSA; make hydrological & meteorological data accessible.
3. Establish blended-finance/guarantee facilities that de-risk private investment in resilience (so startups can raise funding).
4. Embed impact-based early-warning systems in national disaster-risk management plans; authorise automatic triggers (e.g., cash transfers, evacuation alerts) when thresholds are exceeded.
5. Support local capacity at state and municipal level: invest in drainage, sensors, maintenance funds and community-volunteer networks.

Donors & development finance – their move

Donors and multilateral funds should focus on enabling, not just funding studies:

• Provide first-loss and outcome-based grants to make resilience commercially viable for startups.
• Fund data infrastructure: sensors, river gauges, ground monitoring networks and software platforms.
• Support risk transfer mechanisms, e.g., parametric insurance tied to flood/crop loss, accessible for rural farmers.
• Act as procurement catalysts: fund multi-year contracts that governments can absorb, reducing risk for startups.

Quick wins in next 12 months

• Launch a low-cost river-gage + SMS alert pilot across 1-2 high-risk LGAs identified by federal alerts.
• Bundle climate-smart advisory + micro-credit + parametric insurance for crop planting next season.
• Co-develop with NiMet a verified API feed for flood forecasts and package it commercially to insurers.

Medium to long-term (1-5 years)

• Build integrated river-basin monitoring (NIHSA + regional partners) and link to automated insurance triggers.
• Expand urban-resilience programmes: retrofit drainage, deploy nature-based solutions, create maintenance markets.
• Develop national procurement frameworks & climate-resilient infrastructure codes so tech innovation is institutionalised.

KPIs worth tracking

Choose measurable indicators:

• Time from warning to evacuation (hours) in pilot areas.
• Number of smallholders covered by parametric protection.
• % reduction in crop loss in project pilot zones year-on-year.
• Time from pilot to procurement contract for a resilience startup (months).
• Amount of blended finance mobilised (USD) for resilience.
• Number of municipalities using startup-delivered dashboards.

Risks & ethical issues

• Beware of “tech-solutionism”: technology alone won’t solve structural issues. Community involvement matters.
• Data privacy: especially for farm, household or geospatial data. Ensure consent and benefit sharing.
• Elite capture: resilience programmes must reach marginalised groups, not just well-connected players.

I believe we have a real opportunity in Nigeria. Startups are prepared to build the tools; the urgency is undeniable. But without policy clarity, finance reform and institutional buy-in, innovation will stall in pilots. 

If the next 12 months see coordinated action among startups + government + donors, we’ll move from reactive relief to proactive resilience.

The post Turning Climate Challenges into Opportunities: How Startups, Government and Donors Can Build Resilience in Nigeria appeared first on Tech | Business | Economy.

These changes threaten not only Nigeria’s environment but also its economic growth, social development, and overall well-being.

There was a time when we could reasonably predict the weather in Nigeria. Rainy and dry seasons arrived at specific periods in the year, allowing for preparation, especially among rural farmers.

By monitoring the seasons, farmers could cultivate crops and achieve bountiful harvests.

Nigeria’s rainy seasons have changed. Once a land of consistent rain, the country now experiences more intense downpours followed by longer dry periods. This disrupts agricultural production, leading to food insecurity.

Floods caused by heavy rains destroy crops and infrastructure, displacing communities. Since September 2022, the worst floods in a decade have affected 3.2 million people across Nigeria, of whom an estimated 60 percent are children.

Anambra, Bayelsa, Cross River, and Jigawa States have seen the highest numbers of displaced persons.In Northern Nigeria, conflict may have continued to drive population displacement, disrupt livelihood activities, and restrict market access.

However, the region’s suffering intensifies due to its particular vulnerability to droughts caused by rising temperatures and reduced rainfall.

Lake Chad, a vital source of water for millions, is shrinking at an alarming rate. Since the 1960s, the lake has shrunk by around 90%.

This recession of water is a result of both reduced precipitation induced by climate change and the development of modern irrigation systems for agriculture, alongside the increasing human demand for freshwater.

Coastal cities like Lagos face the risk of inundation due to rising sea levels. This saltwater intrusion contaminates freshwater sources and threatens coastal ecosystems.

Erosion caused by rising sea levels destroys infrastructure and can displace populations. If global warming exceeds 2°C, Lagos State is predicted to see a 90cm rise in sea level by 2100.

Some other current climate change issues in Nigeria include frequent and intense heat waves, deforestation, overgrazing, and extreme weather events that contribute to land degradation.

There is no doubt that Nigeria faces a real climate change challenge. It is imperative that the government and other stakeholders put in place mitigation and adaptation projects, such as developing renewable energy sources and reducing emissions, as well as adaptation efforts, including building resilient infrastructure and fostering community resilience, to curb climate change challenges in Nigeria.

A solution to Nigeria’s rising climate change challenge is climate finance. Climate finance refers to local, national and transnational financing that is drawn from public, private and alternative sources of financing that seeks to support mitigation and adaptation actions that will address climate change.

Climate finance plays a critical role in empowering developing nations like Nigeria to combat climate change. It provides the much-needed resources to implement mitigation and adaptation strategies that safeguard the environment and bolster climate resilience.

While Nigeria has ambitious climate goals enshrined in its Nationally Determined Contributions (NDCs) – a pledge under the Paris Agreement to reduce greenhouse gas emissions –  achieving them hinges on a crucial factor: climate finance.

Climate finance serves as a crucial instrument for Nigeria to confront its climate change challenges. It encompasses various funding sources, that includes, multilateral aid in form of grants and concessional loans provided by developed countries and international organizations.

Investments from banks, insurers, and asset managers in climate-smart projects that emanate as private sector investment and carbon pricing mechanisms which are revenue generated from carbon taxes or emissions trading schemes.

By effectively deploying climate finance, Nigeria can invest in renewable energy sources like solar and wind power which can lessen reliance on fossil fuels and reduce greenhouse gas emissions.

Funds can be directed towards strengthening infrastructure to withstand extreme weather events, developing climate-resistant crop varieties, and improving early warning systems.

Support for the adoption of sustainable agricultural practices that enhance food security and reduce deforestation can also be achieved.

The Funding Gap and the Urgency for Action

Nigeria’s current climate finance scenario paints a concerning picture. Estimates suggest the country receives around $1.9 billion annually, a far cry from the estimated $17.7 billion required to meet its NDC targets by 2030. This significant funding gap translates to a lack of resources for crucial climate action initiatives.

The consequences of inaction are dire. Studies by the Department for International Development (DFID) indicate that climate change could cost Nigeria between 6% and 30% of its GDP by 2050. This economic strain, coupled with environmental degradation and social upheaval, could significantly destabilize the nation.

Bridging the climate finance gap necessitates a multi-pronged approach involving various stakeholders:

• Public Sector: The Nigerian government must prioritize climate finance allocation within its budget. Innovative mechanisms like carbon taxes and green bonds can be explored to generate additional revenue for climate projects.
• Private Sector: The private sector has a vital role to play. Banks and financial institutions need to develop financial products that incentivize investments in low-carbon and climate-resilient technologies. Additionally, corporations should factor climate risk into their decision-making processes and invest in sustainable practices.
• International Community: Developed nations have a responsibility to support developing countries like Nigeria in their climate efforts. Fulfilling pledges made under international agreements like the Green Climate Fund is crucial.

Despite the challenges, there are positive developments on the Nigerian climate finance landscape. In November 2021, The Climate Change bill was signed into law by President Buhari in order to provide Nigeria with a legal framework for climate action, fostering transparency and accountability in climate finance management. Nigeria also issued sovereign green bonds to finance renewable energy projects, demonstrating a commitment to sustainable development.

Nigeria’s climate action journey will require sustained efforts and strategic partnerships. Some key areas for focus are:

• Enhancing Transparency and Accountability: Clear reporting mechanisms and robust governance structures are essential to ensure that climate funds are used effectively and efficiently.
• Capacity Building: Building domestic expertise in climate finance management is crucial. Training programs and knowledge-sharing initiatives can equip stakeholders with the necessary skills to navigate the complexities of climate finance.
• Unlocking Private Sector Investment: Creating an attractive environment for private sector investment in climate solutions, through policy incentives and de-risking mechanisms, is essential.

Climate change is an existential threat to Nigeria, but it also presents an opportunity for transformation. By mobilizing adequate climate finance, Nigeria can build a low-carbon and climate-resilient future.

This will require a collective effort from the government, private sector, and international community.

With decisive action and innovative solutions, Nigeria can not only safeguard its environment but also  secure a sustainable and prosperous future for its citizens.

The post Climate Finance: The Urgency of Climate Action in Nigeria appeared first on Tech | Business | Economy.

The study shows that total annual climate finance flows in Africa for 2020, domestic and international, were only USD 30 billion, just 12% of the amount needed.

The financing gap is significant: All African countries together have a GDP of USD 2.4 trillion (World Bank 2021), implying that 10% of Africa’s current annual GDP needs to be mobilized above and beyond current flows every year for the next 10 years.

Key takeaways from the analysis include:

Africa needs approximately USD 2.8 trillion between 2020 and 2030 to implement its NDCs.

Out of this USD 2.5 trillion must come from international public sources and the domestic and international private sectors.

These needs represent 10% of Africa’s total annual GDP.

South Africa, Ethiopia, Nigeria, and Egypt have the highest needs per year, together representing almost USD 151 billion per year

These needs as percentage of GDP vary across countries. For instance, South Africa and Ethiopia have needs of 32% and 23% of their GDP, respectively. While Nigeria needs (USD 12 billion) are only 3% of the national GDP.

Similarly, Egypt estimates needs of around USD 7.3 billion, less than 2% of its GDP.

Adaptation accounted for only 24% of total climate finance needs identified, despite Africa being highly vulnerable to climate change and calls for a better balance of finance between mitigation and adaptation. Adaptation needs are likely to be underestimated due to a lack of data and technical expertise to estimate the true cost of adaptation measures.

Mitigation accounts for the largest share of reported needs in 2020-2030, at 66% of total climate finance needs

Mitigation needs are predominantly split across four sectors: transport (58%), energy (24%), industry (7%), and agriculture, forestry, and other land use (AFOLU) (9%). However, results are heavily weighted to a few countries, in particular South Africa, which accounts for most transport needs.

Excluding South Africa, the composition of mitigation needs per sector is energy (39%), AFOLU (27%), industry (20%), and transport (10%).

The private sector has significant potential to meet Africa’s climate finance needs

Public funding alone will not be sufficient, given the magnitude of investments needed, and current and future constraints on public domestic resources in Africa.

However, most current climate financing in Africa is from public actors (87%, USD 20 billion) with limited finance from private actors.

To mobilize private finance, public actors need to improve policy frameworks and investment environments and deploy concessional financing to target investment barriers

Investment barriers are typically context specific but can include technology-specific barriers such as uncertainty with respect to performance; policy barriers such as uncertain permitting processes; investment environment barriers such as lack of liquid financial markets; and bankability barriers such as off-taker creditworthiness and high debt costs.

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