Enko Capital Backs Ivorian E-Mobility Pioneer EVTech in Hybrid Financing Deal
Asset management firm Enko Capital deploys its Francophone West Africa SME strategy (FCPR) into EV.Tech, providing hybrid growth capital to scale electric vehicle charging infrastructure across Côte d’Ivoire.
ABIDJAN — Enko Capital has executed a strategic investment in EVTech, an Abidjan-based provider of electric vehicle charging infrastructure, through its Francophone West Africa SME strategy (Fonds Commun de Placement à Risques, or FCPR).
The transaction introduces a hybrid financing structure designed to provide EV.Tech with the resources necessary to accelerate its multi-stage deployment plan, secure future fundraising rounds, and capture growing demand driven by urban mobility shifts in West Africa.
Infrastructure Scaling and Market Expansion
Founded by Florent Thomas and Esther Dagri, EVTech operates a localized network of 70 charging stations throughout Côte d’Ivoire, supported by strategic partnerships across the domestic transport and fuel distribution sectors.
- Capital Deployment: Proceeds from the hybrid financing round will fund the rapid expansion of physical charging terminals, software maintenance capabilities, and proprietary mobile application interfaces.
- Portfolio Positioning: This transaction marks the second deployment under Enko Capital's FCPR strategy, following its prior investment in Burger King Côte d'Ivoire. The fund explicitly targets high-growth small and medium-sized enterprises across Francophone West Africa.
- Macroeconomic Drivers: Commenting on the investment rationale, Senior Investment Director Cheikh Souleymane Diallo highlighted rapid urbanization, escalating fossil fuel costs, and proactive public commitments to energy transition as core catalysts for regional e-mobility adoption.
"The company has demonstrated its ability to deploy infrastructure that is essential to the development of Côte d'Ivoire's electric mobility ecosystem," noted Cyrille Nkontchou, Managing Partner at Enko Capital.
With approximately $1.6 billion in assets under management and operational hubs spanning London, Johannesburg, Abidjan, Kigali, Port Louis, and Yaoundé, Enko Capital continues to channel institutional capital into high-impact enterprises driving structural economic transformation across the continent.
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