Ghanaian electric bike startup Wahu Mobility has struck a carbon credit deal with Switzerland — only the second global e-mobility transaction under the nascent Article 6 carbon market of the Paris Agreement.
Why it matters
The deal could accelerate Africa’s role in the global carbon market while enabling cleaner transport solutions for thousands of local delivery riders.
“This authorization marks a pivotal moment for Wahu Mobility and Africa’s e-mobility sector,” said CEO Valerie Labi.
Details
- Wahu plans to deploy 117,000 e-bikes over the next five years.
- The project targets 752,684 tons of CO₂ equivalent in avoided emissions by 2030.
- These avoided emissions will be packaged into carbon credits (aka ITMOs) and sold to Switzerland.
- The project took two years to get validated and approved by both countries.
Zoom out
Switzerland has been one of the most active buyers of carbon offsets under Article 6, acknowledging it can’t meet its climate goals alone.
- It aims to cut emissions by 65% by 2035 (vs. 1990 levels).
- Much of the country’s carbon credit buying is done through the Klik Foundation, funded by Swiss fuel importers.
- Klik is developing 12 projects in Ghana worth up to $1.1 billion in investments.
“This will accelerate the energy transition by bringing in technologies that wouldn’t have happened in the next five years,” said Michael Abrokwaa, Klik’s Ghana GM.
Ghana’s bigger play
- The country aims to sell 24 million tons of CO₂ credits under Article 6.
- Ghana recently set up a carbon registry and approval committee to position itself as a key Article 6 hub.
- So far, 4 projects have been authorized by Ghana’s Environmental Protection Authority.
Yes, but
The Article 6 carbon market is still fragmented. Countries set their own rules — raising concerns about transparency and credit integrity.
“Establishing integrity is essential for unlocking demand from corporate buyers and governments,” said Layla Khanfar, a research associate at BloombergNEF.
What’s next
With Wahu’s project officially greenlit, Ghana is poised to become a carbon finance leader on the continent — if it can maintain rigorous standards and successfully execute its early deals.
Source: Bloomberg
