Persistent Stories

Across Nigeria, access to reliable electricity remains one of the biggest barriers to economic growth. Despite being Africa’s largest economy, according to the World Bank, an estimated 85 million Nigerians lack access to grid electricity, giving the country the largest electricity access deficit in the world.

For years, farmers across Epe and Ijebu in Lagos state have struggled to keep their produce fresh after harvest, without access to reliable cold storage, fruits, vegetables, and other perishables spoiled within days. This forced many to sell quickly at low prices or lose their goods entirely, leading to depressed incomes or significant post-harvest losses.

MPower Ventures is advancing access to clean, reliable electricity in Africa by combining solar technology with innovative financing. Alongside serving SMEs, households, and commercial and industrial clients, MPower has pioneered EnergyHubs, which are solar-powered facilities designed to supply off-grid communities with electricity while enabling small businesses to thrive.

In Benin’s bustling cities and towns, taxi motorcycles, popularly known as (zémidjan or zem) are everywhere. They are an indispensable lifeline, carrying commuters, moving goods, and supporting countless small businesses. In Cotonou alone, there are between 200,000 and 250,000 people driving motorcycle taxis in the city of about a million inhabitants, or one motorcycle taxi for every ten inhabitants. With this type of dominance, they have become the backbone of the country’s mobility system. But this reliance comes at a steep cost.

Generative AI (GenAI) is changing the way we work fast. It’s no longer a question of if we will use it, but how. Whether you're writing, researching, learning something new, or solving problems at work, tools like ChatGPT, Claude, Perplexity, Notebook LM, and Gemini Deep research are increasingly part of how we strategize and create. But as powerful as these tools are, they come with risks, which is why it's important to learn how to use them properly.

Data protection is an area of law gaining great traction across Africa. On the continental level, there is the African Union Convention on Cyber Security and Personal Data Protection (“Malabo Convention”), which was adopted in 2014. The aim of the Malabo Convention is to build the Information Society in Africa and commit Member States to the creation of a legal framework for the protection of personal data.

TRí’s mission extends beyond providing cleaner, more affordable transportation—it is also about creating opportunities for individuals to achieve financial independence. Together with partners like TRí, Persistent is proud to support sustainable innovations that drive social and economic progress in African communities.

candi solar (a contraction of “Commercial AND Industrial”) is an innovative commercial and industrial (C&I) solar developer, financier, and operator for companies in emerging markets, providing them with affordable solar solutions. candi solar started with a target market of SMEs and has now expanded to businesses with significant electricity consumption.

Fx risk is indeed the “Black Box” all early-stage companies are subjected to, except perhaps in countries that use the CFA.  Small and growing companies cannot control their future if they have large foreign exchange exposure to hard currencies like the US Dollar, while their revenues are in local currencies.  Yet, solutions are rare and, where available, expensive.

As a firm committed to investing in the vision and resilience of women within our firm and through the women entrepreneurs we support, initiatives that empower women hold a special place in our hearts. This commitment extends to encouraging our partner companies to implement similar empowering practices. Therefore, it was indeed delightful when we heard of the Rensource Energize Her Initiative (REHI), launched in October 2023. The REHI resonated deeply with our core values with its aim to address the gender disparities within the engineering sector in Nigeria.

“Stepping into this new role as a partner at Persistent, it's been an eye-opening journey—a blend of growth, gratitude, and genuine connections. Reflecting back, it's clear that the heartbeat of Persistent is its people. It's about the incredible team members who bring their passion every day, the visionary investors who share our dreams, and the brilliant entrepreneurs we're privileged to support. It's these connections, these moments of trust and choices, that truly create the movement.

EcoNetix is a global asset manager of high-integrity carbon projects. It uses a digital measurement, reporting, and verification process (dMRV) to digitize carbon projects, monitor and track CO2 bringing trust and transparency to the carbon market.

The Africa Tech Summit is a premier event that brings together key players from across the tech and climate sectors in Africa and beyond. This annual gathering in Nairobi serves as a crucial platform for startups, investors, corporates, and policymakers to exchange ideas, forge partnerships, and explore the latest innovations driving a climate resilient future on the continent. The summit, which is also hosting the Africa Climate Tech Summit, spans various critical areas, including fintech, agritech, e-mobility, and renewable energy, making it an essential convergence point for those at the forefront of Africa's technological and environmental advancements.

As the pressing challenges of climate change, energy instability, and the escalating costs of fossil fuels become evident daily, it is now increasingly crucial to explore sustainable and reliable energy solutions while this is slowly being adopted, the global energy industry continues to struggle with decorbanization and digitalization. The IEA’s World Energy Outlook 2021 report stated that digital technologies play crucial roles in integrating different aspects of the new energy system, therefore accelerating the urgent need for a shift towards decarbonized and digitized energy systems. It is within this challenging yet transformative context that Persistent’s decision to invest in Circadian becomes not just strategic but imperative.

Over the years, Off grid solar home systems (SHS) have provided clean energy to nearly 500 million people worldwide. In Africa, 50% of these numbers are people who have not been able to have access to clean and renewable energy. It is safe to say the PayGo sector has come to revolutionize access to clean and affordable energy in Africa and even in the world at large.

Lagos, largest city in Nigeria is a dynamic city with a population of about 15 million. Lagos has a vibrant and thriving startup scene, known for its entrepreneurial spirit and technological advancements on the continent. This is one of many reasons why Persistent has this year revitalized its presence there, corresponding with the growth of our Nigerian team. Recognizing the potential, Persistent is committed to continue developing its network in the region by establishing relationships in the Nigerian Climate community and identifying promising startups, particularly in the fields of Agtech and the Circular Economy.  

Persistent is powered by a team of impact-driven early-stage investors who support exceptional entrepreneurs building climate technology businesses. We are investors, entrepreneurs, technologists, and lawyers, all united behind a vision to create a more sustainable Africa and accelerate climate technology across the continent. Our team is diverse, consisting of members from various African backgrounds who contribute to different aspects of our initiatives and we are proud to have a composition of 80%+ team members based in Africa, 60%+ African team members, and 60%+ female representation in the entire team structure.

Welcome to the 1st edition of our "Persistent ABC" series, where letters of the alphabet represent something that matters to us at Persistent. Today it`s A for Altech, our partner company in the Democratic Republic of the Congo.

Hey there! Today, Altech received some great news.  It might not seem all that fun at first glance: repaying a loan to an external lender! But repaying the first loan you ever raised is exciting, so stick with us. Let`s set the scene ...

By recently joining Persistent, Wyclife aims to fulfill two of his true passions: finance and innovative entrepreneurship, especially when these pursuits ultimately result in a positive impact. What greater cause can there be than positively changing the lives of others? And how did these passions come to Wyclife?

An Indian man, a German woman, and a Congolese man meet in Dungu. What sounds like a great intro for a Dad joke was actually the beginning of a journey to help thousands of people gain access to energy in the Democratic Republic of Congo. But what is it that these three people do and where the hell is Dungu?

For Toukam, a Cameroonian native, life has been a combination of adventure, meeting and caring for people, entrepreneurial ventures, and persistence. He brought all these experiences to Persistent, as an outstanding venture builder, to work with exceptional entrepreneurs and drive social and environmental impact in Africa.

It’s easy to underestimate Tobias. You wouldn’t guess that he was involved in a casino robbery – as a hostage! – or that he sold wild pineapples and later ran a car repair shop in the Central African Republic. But get a few beers with Tobias and he has stories that easily fill a long evening.