- The IFC, The World Bank and Kobo360 has launched a call for proposals for companies providing sustainable cooling solutions in Nigeria.
- This call is part of the TechEmerge Temperature-Controlled Logistics programme.
- This programme will provide selected proposals with funding of up to $1 million dollars and expertise on bringing their innovations into the Nigerian market.
The International Finance Corporation (IFC) and the digital logistics platform Kobo360 has launched a call for proposals for the provision of sustainable cooling solutions in Nigeria. This call is part of the TechEmerge Temperature-Controlled Logistics programme. According to the IFC, any proposed solution will have to be temperature-controlled (TCL) and climate-smart.
This programme aims to address the challenges associated with the preservation of food products and curb the resulting waste. It also seeks to support the health sector in providing cold-chain solutions for the preservation of health supplies and reduce dependency on the grid nationwide. The programme is being implemented by the World Bank’s private sector financing arm in partnership with the UK Department of Trade, Energy and Industry Strategy (BEIS) and Kobo.360
“Sustainable cooling technologies represent a fast-growing business opportunity, particularly important for emerging markets. The selected entrepreneurs will deliver their solutions in Nigeria, and more broadly in Africa,” stated William Sonneborn, IFC’s Senior Director of Technology and Disruption Funds.
The TechEmerge Sustainable Cooling programme will provide selected proposals with market access and a funding pool of up to $1 million for top innovators who will be paired with leading Nigerian companies, to jointly pilot sustainable solutions that reduce cold chain losses, increase access to LCT-dependent products and markets, and build business partnerships according to the IFC.
IFC will also work with market experts to provide support to companies and help them mitigate financial and operational risks associated with operating in the Nigerian market.
Deadline for submission of applications is January 31 2021.