EV.Tech has secured new investment from Enko Capital to expand electric vehicle charging infrastructure across Côte d’Ivoire. The capital will enable the company to grow its domestic network and strengthen the infrastructure needed to support wider adoption of electric mobility.
The investment was made through Enko Capital’s Francophone West Africa SME Strategy, structured as a Fonds Commun de Placement à Risques (FCPR). The financing package combines different forms of capital and will directly support EV.Tech’s infrastructure expansion and operational growth.
With electric mobility developing in Côte d’Ivoire, access to reliable charging infrastructure remains an important part of building the sector. EV.Tech’s expansion will increase the availability of charging stations while giving people and businesses greater access to electric vehicle services.
Expanding EV Charging Infrastructure
EV.Tech is Côte d’Ivoire’s first local enterprise dedicated exclusively to electric vehicle charging solutions. The company currently manages a nationwide network of 70 charging stations.
It has also secured strategic partnerships with major regional players in the transportation and commercial fuel distribution sectors. These partnerships have helped establish a foundation for the company’s expansion within the country’s growing electric mobility sector.
For co-founders Florent Thomas and Esther Dagri, the investment provides important capital to address infrastructure challenges linked to early-stage electric vehicle adoption.
“This investment by Enko Capital marks a new milestone in EV.Tech’s development,” the founders said in a joint statement.
They said the investment reflects the confidence placed in the Ivorian start-up by a leading player in the financial sector. More importantly, the capital will allow EV.Tech to accelerate the roll-out of its infrastructure and advance its goal of making electromobility a practical and accessible solution for people and businesses in Côte d’Ivoire.
The expansion gives EV.Tech additional capacity to develop its charging network while strengthening the infrastructure that supports electric vehicle use.
Enko Capital Backs West African SME Growth
The EV.Tech transaction is the second investment completed under Enko Capital’s FCPR strategy. It follows an earlier investment in Burger King Côte d’Ivoire.
The strategy focuses on providing flexible capital to high-growth and transformative small and medium-sized enterprises across the Francophone West African corridor.
Cyrille Nkontchou, Managing Partner at Enko Capital, said EV.Tech’s ability to deploy important infrastructure was a key factor behind the investment.
“The company has demonstrated its ability to deploy infrastructure that is essential to the development of Côte d’Ivoire’s electric mobility ecosystem,” Nkontchou said.
He said the investment reflects Enko Capital’s commitment to supporting high-potential companies that contribute to the development of their sectors and create value within local economies.
Cheikh Souleymane Diallo, Senior Investment Director at Enko Capital, highlighted the flexibility of the FCPR strategy and its ability to provide financing suited to businesses at different stages of development.
“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,” Diallo said.
He identified rapid urbanisation, rising fossil fuel costs, technological advances and growing commitment from public authorities to the energy transition as key drivers of the West African electric mobility market.
