Kenyan climate tech startups are driving demand for embedded finance solutions
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As Africa struggles to confront the looming climate dilemma, one country seems poised to lead Africa’s clean-energy transition: Kenya.
As the chart above shows, Kenya attracted 63% of Africa’s climate tech funding in 2023. As we’ve previously written, Kenya’s robust renewables infrastructure, pro-climate government policies, and eco-friendly consumer habits make it an investor favourite.
‘Climate tech’ captures a broad group of solutions, services, and technology that help consumers, industries, and companies mitigate, adapt, monitor, or respond to climate change.
The image below details the sectors and sub-sectors within climate-tech:
Between 2020 and 2023, 80% of global VC funding into climate tech went to the ‘Big Three’: energy, transportation, and agriculture.
Kenya’s climate investments are less diversified. Investors are piling into one vertical: energy. 80% of funding went to clean energy startups in 2023.
As the chart shows, investors have shifted focus. In 2019, they favoured agri-tech startups (56% ). However, clean
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