IFC, Kobo360 to tackle food, energy waste
International Finance Corporation (IFC), a member of the World Bank Group, in partnership with an African digital logistics platform, Kobo360, has called on innovators from around the world to bring climate-smart, temperature-controlled logistics (TCL) cooling solutions to Nigeria to help the country address food waste; support its health sector and reduce its energy consumption.
Through TechEmerge Temperature-Controlled Logistics Nigeria programme, it wants to offer market access and a pool of up to $1 million in funding to top innovators matched with Nigerian companies to jointly pilot sustainable solutions that will reduce losses in cold chains, strengthen access to TCL-dependent products/markets and build commercial partnerships.
The programme is being implemented by IFC in partnership with the UK Department for Business, Energy & Industrial Strategy (BEIS) and Kobo360, an African e-logistics platform.
Temperature-controlled logistics is essential for economic development, human health and food security. It delivers perishable goods to shops and shipping ports and keeps medicines and vaccines from spoiling as they are transported to clinics, pharmacies and hospitals.
Senior Director, Disruptive Technologies and Funds, IFC, William Sonneborn, said sustainable cooling technologies represent a fast-growing business opportunity with particular importance for emerging markets.
“We are excited to support cutting-edge entrepreneurs to pilot and scale up their temperature-controlled logistics solutions in Nigeria and Africa,” he said.
Kobo360’s Founding Partner and Head of KoboCare, Ike Abiakam, said Africa’s cold chain capacity faces a dearth of investment in equipment for maintaining a specific temperature range throughout the supply chain.
“We have seen a gap in the market for shipping solutions, specifically concerning moving deep-frozen, cold and ambient goods in a safe and temperature-controlled environment. Temperature-controlled shipping is constantly evolving and our partnership with the IFC is a key step towards discovering the best innovations that will enable the efficient transport of chilled goods,” he said.
The programme will bring together tech companies and innovators selected through a competitive process for matchmaking with leading Nigerian companies. The selection will lead to discussions of piloting and commercial deployment of their innovations.
IFC and a panel of industry experts will provide support during market entry and tech-transfer, helping tech companies and start-ups mitigate financial and operational risks.
TechEmerge is part of IFC’s strategy to support entrepreneurship and innovation in emerging markets and leverage the private sector to bring cutting-edge technologies to tackle some of the world’s most critical development challenges.
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