This report is part of a four-part series exploring investment trends and opportunities in Africa’s cold storage industry. Drawing on a decade of private capital activity, the series unpacks market size, segmentation, key drivers, and investment theses across cold storage, transport, and integrated platforms. It is designed to support investors, operators, and fund managers in identifying and evaluating opportunities in the sector.
Cooling-as-a-Service investments: Trends & opportunities in African cold storage
Another emerging investment trend in Africa’s cold storage industry involves investors backing small to mid-sized providers deploying Cooling-as-a-Service (CaaS) business models. The CaaS model allows customers, such as farmers, supermarkets, or cooperatives, to access cold storage and refrigerated transport without upfront capital investments. Instead, cold storage companies own and operate the assets, providing them to customers for a recurring service fee.
A good example is the Kenyan cold chain solutions provider Keep IT Cool, which recently attracted equity investment from Acumen and previously Catalyst Fund. Keep IT Cool
