NAIROBI, Kenya, March 2026 -/African Media Agency(AMA)/ – BFA Global
and FSD Africa today announced $273,000 in follow-on funding and
venture-building support for four early-stage alumni of previous
Triggering Exponential Climate Action (TECA) venture-building program
cohorts. The four early-stage small and growing businesses (SGBs) had
previously participated in the TECA program, which seeks to grow climate
solutions from concept to investment, fostering resilience and
protecting the most vulnerable communities in East Africa. The small and
growing businesses have demonstrated early traction in advancing
solutions in clean energy, cold storage, carbon market access, and food
systems.
The new financial support will provide these businesses with operational
capital to scale, as well as technical support, including operational
guidance, model refinement, and investment-readiness preparation. The
businesses are already making waves in improving the lives of East
Africans, especially in the energy and agriculture sectors.
The four are:
- Africa Renewables Katalyst (ARK) connects East African renewable
energy developers to global renewable energy certificate markets through
data systems, verification services, and market access tools. - Plas-tech Energies converts plastic waste into clean cooking gas and distributes it through refillable cylinders, offering a safer, more affordable alternative to charcoal and kerosene.
- Samaking operates a solar-powered cold chain infrastructure and a decentralised fish distribution network that reduces post-harvest losses and strengthens market stability for small traders, particularly women.
- Sunwave provides solar-powered ice production and cold storage solutions designed to reduce post-harvest losses and increase incomes for small-scale fishers and fish traders.
Such financial support is especially critical for early-stage businesses
that have proven their viability but need more capital to reach
commercial readiness and scale, a stage typically associated with
constrained capital. A report by Sightline Climate shows, for instance,
that in 2025, early-stage deal counts fell by roughly 20 per cent to a
five-year low, as investors concentrated capital into fewer companies.
This shift has made follow-on capital harder to secure, particularly in
emerging markets.
“Early-stage climate ventures face a critical funding cliff just as
they are ready to grow,” said Tyler Ferdinand, Director of the TECA
program at BFA Global. “Our follow-on support gives them the capital,
time, tools, and evidence base they need to build credible, investable
businesses that improve resilience in vulnerable communities.”
Mary Kashangaki, Early-Stage Finance Manager at FSD Africa, added: “At
FSD Africa, we have for years supported novel financing structures for
small and growing businesses, especially those building resilience
against climate change in Africa. We are proud to partner with BFA
Global to provide additional support to these deserving businesses doing
such important work. Access to capital, especially for this category of
businesses, remains challenging, yet they are the majority and provide
most employment on the continent. As an organisation that works to make
finance work for Africa, enhancing flows to small and growing businesses
and tackling climate change remain key priorities for us.”
ABOUT BFA GLOBAL
BFA Global is an impact innovation firm that combines research,
advisory, venture building, and investment expertise to build a more
inclusive, equitable, and resilient future for underserved people and
the planet. We partner with leading public, private and philanthropic
organisations, global and local, to catalyse innovation ecosystems for
impact across emerging markets. Since 2006, we have completed 646
projects completed in over 104 countries, supported 118+ ventures in
Africa, Latin America, and Asia, who have collectively raised $815M+ in
follow-on funding, and have a survival rate above 80% (global average is
~20% [2]), and built a network of 100+ global and African investors,
innovators, and funders focused on climate resilience. Learn more at
https://bfaglobal.com/ [3]. TECA (Triggering Exponential Climate Change
Action) is an initiative by BFA Global that supports climate-focused
startups in emerging markets.
About FSD Africa
FSD Africa is a specialist development agency funded by the UK’s
Department for International Development, operating in more than 30
countries and working to help make finance work for Africa’s future.
Based in Nairobi, FSD Africa’s team of financial sector experts works
alongside governments, business leaders, regulators, and policymakers to
achieve policy and regulatory reform, capacity strengthening, and
improving financial infrastructure to address systemic challenges in
Africa’s financial markets. In its new strategy (2025-2030), the
organisation targets mobilising GBP 10 billion, with GBP 2 billion
channelled towards adaptation initiatives, thereby improving access to
basic financial services for 80 million people and creating 200,000
jobs. FSD Africa – previously known as Financial Sector Deepening
Africa – was founded in 2012 and is based in Nairobi, Kenya. For more
information, please visit : https://www.fsdafrica.org [4]
