Bekia in Egypt is showing how innovation in waste management can create real impact when supported by the right kind of investment. Backed by Catalyst Fund, Bekia has built a platform that helps individuals and businesses exchange waste for financial incentives while promoting recycling and a circular economy. Since 2020, the company has facilitated the collection and recycling of more than 1,000 tons of waste, setting an example of how local solutions can address both environmental challenges and economic opportunities. For its founder and chief executive officer, Alaa Afifi, the company represents a pathway for Egypt to tackle mounting waste management problems while proving that sustainability can also drive growth.
Bekia is just one of several African climate-tech startups being supported by Catalyst Fund, a venture capital initiative dedicated to scaling early-stage solutions across the continent. Catalyst Fund’s approach combines capital, tailored venture building support and global networks to give entrepreneurs the tools they need to grow. Its work with startups like Bekia underscores how Africa’s innovation ecosystem is shifting toward solutions that not only address climate adaptation but also generate jobs and economic resilience.
Rising demand for climate-smart investment
Africa faces urgent climate challenges, from droughts and floods to food insecurity and waste management issues. Yet at the same time, it has the potential to lead globally in climate-smart innovation. Entrepreneurs across the continent are designing solutions that reimagine critical sectors, whether through solar-powered storage for farmers, platforms for waste recycling or advanced carbon removal technologies.
Catalyst Fund has been central in amplifying these solutions. As an official nominator to The Earthshot Prize, the fund has helped identify some of Africa’s most promising startups. One notable example is Keep IT Cool, the 2024 Earthshot Prize winner, which provides affordable cold storage units that reduce food waste and improve incomes for smallholder farmers. Catalyst Fund has supported the company since 2023, guiding its business strategy and helping it secure follow-on funding from major global investors.
This kind of support is urgently needed. While Africa currently receives around $30 billion annually in climate financing, it requires nearly $280 billion each year by 2030 to meet both mitigation and adaptation needs. Private sector involvement remains limited, contributing only 14% of current climate finance flows. That gap highlights why blended finance approaches, which combine grants, debt and equity, are essential for unlocking more investment into early-stage African startups that often need up to three years of soft capital before reaching pre-seed stage.
Investor interest, however, is steadily rising. In 2024, climate-tech companies accounted for one-third of all venture funding in Africa, according to Africa: The Big Deal. Catalyst Fund’s Investor Pulse survey found that more than 60% of investors had begun backing climate-tech ventures in the past three years. While many of these deals remain small, often below $500,000, the quality of opportunities is improving and some investors have already closed multiple deals within a single year. This momentum points to a growing recognition of Africa’s ability to generate investable solutions that meet pressing local and global challenges.
Shaping a more diverse climate-tech pipeline
Traditionally, climate-tech investment in Africa has been concentrated in energy and water ventures, which attracted nearly 75% of all funding in 2023. While these sectors remain vital, the landscape is broadening. New areas such as mobility, climate-smart agriculture, carbon capture and data analytics are emerging as priorities for investors. This shift reflects not only the diversity of Africa’s innovation capacity but also the global demand for new approaches to food security, sustainable transport and emissions reduction.
Examples supported by Catalyst Fund illustrate this widening scope. In Nigeria, Zebra CropBank is addressing post-harvest waste through solar-powered micro-warehouses located near farming communities. By offering farmers secure storage and access to fairer markets, the company has helped increase incomes by up to 90%. Catalyst Fund’s support has been critical in helping Zebra secure additional financing and refine its digital platform.
These case studies demonstrate how climate innovation in Africa is not just about reducing emissions but about building resilient economies. For startups like Bekia, Keep IT Cool and Zebra CropBank, the impact is measured in tons of waste recycled, food saved and farmer incomes improved. With Catalyst Fund acting as an early backer, these ventures have become more attractive to follow-on investors, strengthening the pipeline for future growth.
The future of Africa’s climate-tech ecosystem
Catalyst Fund has already backed 24 startups and plans to expand its portfolio by another 16 by 2026. Several of its investees are successfully raising further rounds, showing that investor appetite is growing alongside the performance of these businesses. The fund’s leadership remains confident that climate-tech in Africa represents one of the continent’s strongest future growth markets, particularly in areas of adaptation and resilience.
At the same time, the need for greater capital flows cannot be overstated. Without significant increases in both public and private investment, Africa risks falling short of its climate goals by 2030. This challenge is compounded by the fact that many startups still struggle to access the early, flexible capital required to develop their products and prove their models.
Yet the direction of travel is clear. Momentum is building across multiple countries, with entrepreneurs using technology to solve problems that directly affect people’s lives. Events like Africa Week, hosted by Norrsken Foundation and the visibility that comes from initiatives like The Earthshot Prize are helping to showcase African innovation to the world.
If these trends continue, the next decade could see climate resilience emerge as one of the largest growth sectors in Africa. With support from investors, development finance institutions and organizations like Catalyst Fund, startups such as Bekia in Egypt will not only expand their impact but also inspire the next wave of entrepreneurs to turn urgent challenges into opportunities.
