Ghana’s Wahu Mobility Secures Landmark Carbon Credit Deal with Switzerland
Ghanaian electric bike startup, Wahu Mobility, has secured a groundbreaking carbon credit agreement with the Swiss government, marking only the second global e-mobility transaction under the emerging Article 6 carbon market mechanism of the Paris Agreement.
The deal, hailed as a significant milestone for Africa’s e-mobility sector, is expected to accelerate the continent’s participation in the global carbon market while promoting sustainable transport solutions for thousands of local delivery riders.
“This authorization marks a pivotal moment for Wahu Mobility and Africa’s e-mobility sector,” remarked Valerie Labi, Chief Executive Officer of Wahu Mobility.
Project Details
Under the agreement, Wahu Mobility will deploy 117,000 electric bikes across Ghana over the next five years, with the initiative projected to avoid 752,684 tons of CO₂ emissions by 2030. These avoided emissions will be converted into carbon credits—technically known as Internationally Transferred Mitigation Outcomes (ITMOs)—and sold to Switzerland.
The validation and approval of the project took two years and required mutual clearance from both the Ghanaian and Swiss authorities.
Switzerland’s Climate Strategy
Switzerland has emerged as a key actor in the Article 6 carbon trading landscape, driven by its ambitious climate target of reducing emissions by 65% by 2035 compared to 1990 levels.
Much of the country’s carbon offset procurement is facilitated by the Klik Foundation, an entity financed by Swiss fuel importers. Klik is currently developing 12 projects in Ghana, representing potential investments of up to $1.1 billion.
“This will accelerate the energy transition by bringing in technologies that wouldn’t have happened in the next five years,” said Michael Abrokwaa, Country Manager for Klik in Ghana.
Ghana’s Carbon Market Ambitions
Ghana is positioning itself as a regional leader in carbon finance, with plans to sell up to 24 million tons of CO₂ credits under Article 6. The country has established a national carbon registry and approval committee under the Environmental Protection Authority (EPA), which has so far authorized four projects, including Wahu’s.
Despite progress, concerns remain about the fragmented nature of the Article 6 market, as countries currently set their own rules for credit validation and issuance, raising questions about transparency and the integrity of credits.
“Establishing integrity is essential for unlocking demand from corporate buyers and governments,” noted Layla Khanfar, a research associate at BloombergNEF.
Outlook
With Wahu’s project now officially approved, Ghana stands to play a key role in shaping Africa’s carbon market landscape—provided it upholds rigorous standards and executes its early projects successfully.
