| Updated Wed, May 10th 2017 at 00:00 GMT +3photo:courtesyThe rural roll-out of solar power in Kenya is set to accelerate with the announcement of a new $550,000 (Sh56.6 million) innovative financing deal. Finance platform Lendable has secured the debt financing for Raj Ushanga House (RUH), the Kenyan distributor for Azuri Technologies, which is a provider of Pay-as-you-go (PayGo) solar energy solutions. Under the initiative, capital is secured by future customer revenues from a high-quality portfolio of over 7,000 RUH PayGo solar customer contracts. The firm has already secured $600,000 (Sh61.8 million) in debt financing for Tugende, a Ugandan company that offers a lease-to-own model to help boda-boda riders own their own motorcycles. Lendable’s technology platform connects directly to the management information systems of the PayGo provider.

Source: Standard Digital May 09, 2017 14:15 UTC