M a r k e t N e w s

A Million More Homes To Gain Access To Power in Kenya and Uganda

Posted on : Thursday , 12th October 2017

 One million homes in Kenya and Uganda will gain access to electricity, thanks to a number of investors’ raisings Sh 8 billion in collaboration with the UK government to finance a new solar project. 

 
Kenya based solar kit reseller, M-KOPA Solar announced that the initial payments were made through Dutch Development Bank FMO (Sh 1.3 billion), UK Investment Agency CDC (Sh 2 billion), Norwegian government’s Nor fund (Sh1.3 billion) and Sh900 million through Stanbic Bank.
 
Co-founder of M-KOPA, Chad Larson revealed that the customers will use their own assets as security for the solar kits purchase. This move will enable the poorer classes of society to access green power and to perform a variety of functions from charging phones to lighting homes.
 
The beneficiaries will make their payments through M-Pesa.
 
Stanbic and M-KOPA have also collaborated with the goal of attracting off-grid households with a per capita income of under Sh 200 a day, earning funds in the local currency in the process. 
 
Another Sh2.5 billion of the debt came from Symbiotics, ResponsAbility, and Triodos Investment Management in US dollars.
 
Nick O’Donohoe, Chief Executive of the CDC stated that the investment was done with the hope of transforming lives across the region.
 
Kjell Roland, the CEO of Norfund also spoke about the importance of access to energy for the development of the nation and eradication of poverty. He further spoke about investments in clean energy projects, large scale power plants and also off grid solutions like M-KOPA, which remains a priority for Norfund.  
 

Source : Business News Africa
Featured Companies
  • dubaiexporters.com

Complete List  

Advertisers in previous issue:

  • Manufacturer refrigerated-type air dryer, desiccant air dryer and compressed air in-line filter.
  •  Magazine for Africa
  • Manufacturer of auxiliary equipments
  • Prisma s.r.l. is an industrial reality, qualified in the study and the production of automatic doors for lift.
  • The trusted source for all your heavy  equipment needs!
  • Seco actively contributes to improving your productivity and competitiveness in metal cutting machining.
  • A world leading name in Heat Transfer Technology
  • Leading manufactures and expoters of the electronic products
  • Chemicals,Environmental & Sewage,Treatment Laborotory;Equipments Analytical Equipments & Instraments;etc.
  • BITZER ranks among the leading manufacturers of refrigerant compressors.
  • Manufacturers & Exporters of hand tools, garden tools & leatheer tool pouches.
  • Multi feedstock batch processing biodiesel equipment
  • IAC understand your system requirements, and can offer valuable input, be it design, consulting, training, or technical support.
  •  SOVEMA is the worldwide leading supplier of machinery for lead-acid battery production.
  • Suppliers of generators for every application
  • Luminous Power Technologies Limited is a leading company with a differentiated portfolio of solutions for packaged power, diversified generation, electrical control & safety and energy optimization.
  • We have been at the forefront of plate heat exchanger technology.
  • Manufacturer & Trader of coil winding machines, toroidal coil winding machines, wire bunching machines, complete winding solution
  • Save your power bill by instaling servo voltage stabilizer.
  • South African incinerator and cremator designer and manufacturer making significant inroads into overseas markets.
  • Worthington Products is the World’s most trusted name when it comes to providing quality waterway barriers for Debris Control, Dam Safety, Ice-Booms, Fish Guidance
  • Industrial  machinery
  • Shenzhen City, Riland Industrial Co., Ltd. is China
  • From a modest beginning in 1955, the IGP Group today provides over 50 products and services to the core sector.
Afrotrade International Marketing, Tel: +971-50-6285684
© 1998-2025 Afrotrade