D.Light co-founder Sam Goldman flags-off distributors. PHOTO | CORRESPONDENT
Kenya’s pay as you go solar kit business, d.Light, has received
Sh1.84 billion capital injection from a consortium of lenders to help
accelerate its growth in Africa.
The equity injection
by two responsAbility-managed funds, SunFunder, DWM and SIMA will enable
the company expand its product line and enter new markets to reach more
customers.
“Significant amounts of capital are
required to enable us to continue providing these financing plans for
our customers as we grow.
“We are thankful for the
continued support of our funding partners to enable us to create a
brighter future for the families we serve," said d.light chief executive
and co-founder Ned Tozun in a statement on Monday.
The new capital injection comes barely a few months after three European government funds injected Sh4.1 billion into d.Light.
Firm co-founder and chief executive Ned Tozun said the funding
by SwedFund, Norfund and Dutch Development Bank FMO gave d.light new
impetus to expand into new markets and increase product lines to reach
more customers.
The company said the financing was
organised by Inspired Evolution, an Africa-focused investment advisory
firm specialising in the energy sector.
In April, the
firm opened a regional office and service centre in Eldoret as part of
the company’s expansion strategy to reach and impact 100 million lives
globally by 2020.
Located at KIPPS Plaza, Iten road, the office and service centre has been opening daily including weekends and public holidays.
The
centre will offer sales services and after sales services for d.Light’s
products including solar home systems and portable solar powered
lanterns.
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