Are Africa’s EV firms ready for carbon credits?

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Electric motorcycle company Spiro has signed a deal with Dutch firm Zeroca to collect and sell carbon credits in Kenya and Nigeria. Zeroca develops and aggregates carbon credit programs for electric mobility projects. It handles the entire carbon credit lifecycle, from development and registration to validation and issuance, and sells them on global compliance markets. 

• A model calculation on the Zeroca website shows that aggregating credits for 35,000 electric motorcycles could generate $2.1 million in revenue annually for offsetting nearly 70,000 tons of CO2. 

• EV companies in Africa generally fund growth with expensive debt and equity. Dipping into the carbon market would enable them to unlock a new and attractive source of capital.  

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