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Press release

12 October 2021

FSD Africa backs fintech pioneer to build a new platform aimed at increasing access to carbon markets

London: 12 October 2021

  • Investment in 4R Digital Ltd to build a platform that will use digital technology to help democratise access to climate finance for small, green projects in Africa
  • The Carbon Value Exchange’s (CaVEx) use of remote monitoring technology will create verifiable carbon credits from projects such as solar pumps, electric vehicles, and nature-based solutions, as well as use digital finance to deliver proceeds from credit sales directly to project participants
  • 4R Digital’s co-founder Nick Hughes to reveal details at the AFSIC Investing in Africa Conference in London on 12th

FSD Africa, the UK Government’s flagship financial sector programme in Africa, is making an initial investment (£650,000) in a highly innovative digital solution connecting carbon credits from small-scale green projects across the global south to international buyers. The investment will deliver funding through the test phase of the solution being developed by Nick Hughes, who led the development of Africa’s revolutionary mobile money service M-PESA.

Hughes is co-founder of 4R Digital, a green fintech start-up developing financial solutions for a range of business partners committed to climate positive projects in Africa spanning distributed solar energy, electric mobility and nature-based schemes. 4R Digital is building a solution that connects these projects to investors looking to offset greenhouse gas emissions at the same time as supporting locally-led climate action.

It is illogical that Africans highly exposed to environmental change find themselves barred from carbon markets intended to fund our fight against the climate crisis. 4R Digital is developing a revolutionary solution with the potential to throw open international sources of finance for entrepreneurs, farmers, and small businesses in developing countries.
Juliet Munro, Director, Digital Economy

 

You can also find out more details by visiting the FSD Africa exhibition stand at AFSIC where the 4R Digital team will be giving a presentation on the technology and meeting interested parties.