Uganda is among the top African countries investing heavily in clean energy and practicing safe climate practices. The Charities Aids Foundation (CAF) is taking note of this and offering to help 8 select industries raise climate funds.
The 8 companies include the following:
- Clean Energy Partnership for Africa (CEPA) Limited
- Kyamuhunga Tea Company Limited – Feel the Original Taste
- NLS Waste Services – Your Waste Management Solution)
- Silverfleet Limited: Electric taxi company
- UMEME – Powering Uganda: Encourages the adoption of electricity cooking
- Zembo – The African Electric Motorcycle: Offering battery charging solution
- Protone Energies Limited: Deals in solar energy battery refurbishment
- Kwanza Infrastructure Group: Hydroelectric power projects on Ngenge, Sisi, and Simu rivers
CAF aims to foster partnerships between financial professionals, investors, and project developers to accelerate the transition to a low-carbon economy. The companies received two months of capacity building, especially in involving marginalized groups and the youth and adhering to gender equality.
This is the first phase of CAF’s involvement in Uganda’s climate-related investments, and it promises to lead to the success of the respective agenda. According to British High Commissioner Kate Airey, “Our engagements with the projects selected have created safe spaces where they feel able to ask questions and learn directly from key experts and peers constructively.”
The goal, according to Amanda Kamagambe (managing director at Bethele Advisors), is to help the mentioned companies raise $90 million. Together with CAF, Bethel calls investors to interact with the growing green businesses in a meet-up meant for later March 2024. This will help achieve the greater goal of making Africa a sustainable environment plus economy and contribute to net-zero emissions achievement by 2050.
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