Xeptagon presents Carbon Trading Software to the Government of Kenya

Xeptagon, a global powerhouse for climate finance software along with Mayleen Corporation presented the Carbon Trading and Carbon Credit Management Software developed by Xeptagon to the Government of Kenya. The initiative will facilitate the promotion of Carbon Trading in Kenya as expected by the Climate Change Act Amendment presented in September 2023.

A key highlight of the event is Forestry Principal Secretary, Gitonga Mugambi hosting representatives from Xeptagon and Mayleen Corporation led by Dr Sapumal Ahangama and Ruwan Fernando at his office.

Various subjects including climate finance opportunities in Kenya with a state-of-the-art carbon credit management system were discussed during the meeting. The objective of the initiative is to make Nairobi the carbon trading capital of Africa by 2025. Further details are available here.

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Further discussions were also held with officials from the University of Nairobi, the National Environment Management Authority (NEMA) and the Nairobi Securities Exchange (NSE) in creating a future roadmap.

At present, Africa is lagging in terms of carbon trading with a market share of just 5% at $123 million in 2021. Further, Kenya is far behind the Democratic Republic of the Congo (DRC) in terms of the number of carbon credits issued. A key reason for lower participation is the lack of focus on the renewable energy and agriculture sectors as well as large costs associated with project registration.

Xeptagon and Mayleen jointly presented a solution that will provide unique and technology-based solutions to these problems. The proposal includes developing a state-of-the-art Carbon Credit Exchange, a Carbon Registry and an MRV (measurement, reporting and verification system) for Kenya. Xeptagon has already provided climate finance and carbon credit trading software solutions to Inter-Governmental Organizations, Governments and Top Fortune 500 Businesses to achieve a competitive advantage and tangible results in the climate finance domain.

We are excited about the development in the climate finance domain. Read more about our climate finance software and carbon credit exchange from here.