Firm raises Sh4 billion for solar businessSolar company D.light said it has raised Sh4.1 billion in equity financing from a consortium led by an Africa-focused investment advisory firm Inspired Evolution.The consortium’s partners include the Dutch Development Bank FMO as well as government-sponsored investment funds Swedfund and Norfund. The cash will fund the firm’s expansion of solar and pay-go consumer business across Africa - bringing total equity and debt that D.light has raised in the past two years to over Sh10 billion. “We are thrilled to have Inspired Evolution as the newest funding partner in the D.light family,” said the firm’s co-founder and Chief Executive Ned Tozun. The firm said that its pay-go financing system had one of the lowest delinquency rates in the industry. Mr Tozun and Goldman expect the firm to impact on 100 million people by 2020.

Source: Standard Digital December 18, 2018 05:48 UTC