On Wednesday, Wahu Mobility, a Ghanaian electric bike startup, announced that it has secured a carbon credit agreement with Switzerland. This transaction was the second global e-mobility transaction under the emerging Article 6 carbon market of the Paris Agreement.
This deal could accelerate Africa’s participation in the global carbon market while promoting cleaner transport solutions for thousands of local delivery riders.
Wahu Mobility’s e-bike rollout and carbon impact
Under the agreement, Wahu Mobility plans to deploy 117,000 electric bikes across Ghana over the next five years. By 2030, the project aims to avoid 752,684 tons of CO₂ emissions by replacing fossil fuel motorcycles with low-emission e-bikes.
These avoided emissions will be converted into carbon credits, technically called Internationally Transferred Mitigation Outcomes (ITMOs), and sold to Switzerland as part of its climate commitments.
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Bernard Ayittah, ESG Manager at Wahu Mobility, explained, “Switching to electric bikes is an important contribution to a cleaner, greener future” for Ghana’s gig economy workers, who rely heavily on motorcycles for short-term jobs.
The e-bikes can carry up to 200 kilograms and travel 140 kilometers simultaneously, offering a practical and affordable alternative for commuters and delivery riders.
The project took two years to validate and approve by Ghanaian and Swiss authorities, highlighting the rigorous process behind this pioneering deal.
Switzerland’s role and Ghana’s carbon market ambitions
Switzerland has been a leading buyer of carbon offsets under Article 6, driven by its goal to cut emissions by 65% by 2035 compared to 1990. The Swiss KliK Foundation, funded by Swiss fuel importers, finances climate mitigation projects like Wahu’s and is developing 12 projects in Ghana, potentially worth $1.1 billion in investments.
Michael Abrokwaa, KliK’s Ghana Country Manager, said, “This will accelerate the energy transition by introducing technologies that wouldn’t have happened in the next five years.”
Ghana is positioning itself as a regional hub for carbon finance, aiming 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 its Environmental Protection Authority, which has authorized four projects so far, including Wahu’s.
However, the Article 6 carbon market remains fragmented, with countries setting credit validation and issuance rules. This raises concerns about transparency and credit integrity. Layla Khanfar, a research associate at BloombergNEF, emphasized, “Establishing integrity is essential for unlocking demand from corporate buyers and governments.”
With Wahu Mobility’s project now officially greenlit, Ghana is poised to become a key player in Africa’s carbon market, provided it maintains rigorous standards and successfully executes its early projects.