Enko Capital Invests in Côte d’Ivoire EV Charging Startup EV.Tech

Enko Capital has invested in Côte d’Ivoire-based electric vehicle charging company EV.Tech as the startup prepares to expand its charging network and operations.

The investment was made through Enko Capital’s Francophone West Africa SME Strategy, structured as a Fonds Commun de Placement à Risques (FCPR). The value of the hybrid financing package was not disclosed.

EV.Tech operates a network of 70 charging stations across Côte d’Ivoire, making it one of the local companies building the infrastructure needed to support electric mobility.

Expanding Côte d’Ivoire’s Charging Network

Founded by Florent Thomas and Esther Dagri, EV.Tech focuses exclusively on electric vehicle charging solutions.

The company has formed partnerships with transport and fuel distribution companies as it builds its network. The new financing will support further expansion while strengthening the company's operational capacity.

Thomas and Dagri said the investment will allow EV.Tech to accelerate the rollout of charging infrastructure and work towards making electric mobility more accessible to households and businesses in Côte d’Ivoire.

The company is entering a market where the growth of electric vehicles will depend partly on the availability of reliable charging infrastructure.

Enko Targets Francophone SMEs

The EV.Tech transaction is the second investment completed under Enko Capital’s FCPR strategy, following an earlier investment in Burger King Côte d’Ivoire.

The strategy provides flexible capital to small and medium-sized businesses operating across Francophone West Africa. Its financing can be structured around the needs and development stage of individual companies.

Enko Capital Managing Partner Cyrille Nkontchou said EV.Tech has demonstrated its ability to build infrastructure needed for Côte d’Ivoire’s electric mobility market.

Senior Investment Director Cheikh Souleymane Diallo said the flexibility of the FCPR structure was important in developing the financing package for EV.Tech.

Electric Mobility Market Takes Shape

Enko sees several factors supporting electric mobility in West Africa, including urbanisation, fuel costs, improvements in EV technology and government efforts around the energy transition.

For EV.Tech, the immediate opportunity is to expand the charging network as more electric vehicles enter the market. The investment also highlights the role private capital can play in financing infrastructure businesses that are still developing their markets.