Enko Capital has completed a strategic investment in EV.Tech, a Côte d’Ivoire-based provider of electric vehicle charging infrastructure. The transaction was executed through Enko Capital’s Francophone West Africa SME Strategy, which is structured as a Fonds Commun de Placement à Risques. The hybrid financing package, whose value was not disclosed, will support the company’s network expansion and broader operational capabilities.
First-Mover Advantage in Ivorian E-Mobility
EV.Tech is the first Ivorian company dedicated exclusively to providing electric vehicle charging solutions across the country. The startup currently operates a nationwide network of 70 charging stations and continues to expand its domestic footprint. It has also secured strategic partnerships with major transport and fuel distribution players, reinforcing a clear early market advantage.
The co-founders, Florent Thomas and Esther Dagri, described the investment as a new milestone in EV.Tech’s development. They said the backing from a leading financial sector player validates their mission and enables a faster rollout of charging infrastructure. Their stated ambition is to make electromobility a practical and accessible solution for residents and businesses in Côte d’Ivoire.
Strategic Mandate of the FCPR Strategy
This transaction is the second completed under Enko Capital’s FCPR strategy, following an earlier investment in Burger King Côte d’Ivoire. The fund is designed to deploy flexible capital into high growth small and medium enterprises across Francophone West Africa. By targeting transformative businesses, Enko aims to strengthen local economic value chains and accelerate sector-driven development.
Enko Capital Managing Partner Cyrille Nkontchou said the company has demonstrated a clear ability to deploy infrastructure essential for Côte d’Ivoire’s electric mobility ecosystem. He noted that the investment reflects Enko’s commitment to backing high potential companies that drive growth in their sectors. The decision also underlines confidence in EV.Tech’s execution capacity and its contribution to local value creation.
Macroeconomic Tailwinds and Sector Outlook
Cheikh Souleymane Diallo, Senior Investment Director at Enko Capital, emphasized the flexibility of the FCPR strategy in offering tailored financing solutions. He noted that the vehicle can adapt to companies at different stages of their development, including early-stage infrastructure providers. This flexibility was central to structuring the hybrid financing package provided to the Ivorian startup.
Enko Capital remains confident in the long-term outlook for West African electric mobility. The firm cited rapid urbanization, rising fossil fuel costs, technological advances, and stronger public commitment to the energy transition as key catalysts. These structural factors are expected to drive sustained demand for electric vehicle infrastructure across the wider region.
Implications for Local SMEs and Infrastructure
The investment signals growing institutional appetite for early-stage infrastructure ventures in Francophone West Africa. It demonstrates how structured hybrid financing can address capital gaps that often limit local entrepreneurs and infrastructure developers. For EV.Tech, the funding supports both immediate network expansion and longer term operational resilience in a nascent but promising market segment.
Enko Capital’s backing of EV.Tech highlights the growing role of private capital in advancing sustainable mobility and clean infrastructure across West Africa. The transaction aligns financial returns with environmental impact and local industrial development. As charging infrastructure expands, the partnership could encourage further investment in the wider region’s clean energy and sustainable transportation ecosystem.