The Empower Africa Business Platform is Now Live !!!
d.light, a leading provider of affordable solar solutions, has secured a $176 million debt financing deal to expand its reach in Kenya, Tanzania, and Uganda.
The funding, facilitated through a securitization partnership with African Frontier Capital, will be used to provide consumer loans for solar and energy-efficient appliances.
This move is expected to bring reliable and renewable energy to an estimated 6 million people over the next three years.
d.light CFO Ron Pfende acknowledged the economic challenges faced by many consumers, saying: “The global economic climate has undoubtedly impacted people’s livelihoods.”
“To address this, we’ve tailored our product offerings to meet individual needs, allowing customers to purchase products individually through our PayGo financing option,” he added.
The company’s strategy of unbundling solar packages into single products is designed to make solar energy more accessible to low-income households.
By scaling up its PayGo consumer finance program, d.light aims to increase the availability of solar-powered products in communities with limited access to electricity.
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
European venture capital firm Breega, known for its early-stage investments, has announced the launch of its first Africa-dedicated fund, “Breega Africa Seed I.”
Mediterrania Capital Partners (MCP) and CDG Invest Growth have made a combined capital injection of $59 million into Dislog Dispositifs Médicaux (DDM), the medical device subsidiary of Dislog Group.
Founded in 2020, Chari has developed an advanced e-commerce platform that aims to bridge the gap between traditional brick-and-mortar stores and online shopping experiences.