d.light, a global provider of affordable solar-powered products, has closed a $176 million securitization facility to boost consumer financing for solar energy and high-efficiency appliances in Kenya, Tanzania, and Uganda. This funding, in partnership with African Frontier Capital, aims to provide renewable energy to six million people over the next three years.
The facility, designed to purchase receivables in multiple currencies, will enable d.light to expand its PayGo consumer finance offering, making solar-powered products accessible to low-income households without electricity. This marks a significant step in d.light’s mission to deliver affordable, clean, and sustainable energy.
Since 2020, d.light has secured $718 million in securitized financing through five facilities. This follows the recent $30 million facility from the Eastern and Southern African Trade and Development Bank Group (TDB Group), which supports up to $125 million in receivable assets.
Ned Tozun, CEO of d.light, stated, “This funding is crucial for expanding our reach to millions of off-grid families in East Africa. Our PayGo model allows us to offer solar home systems and high-efficiency appliances affordably and sustainably.”
Founded in 2007 by Ned Tozun and Sam Goldman, d.light operates in over 70 markets globally, with nearly 30 million products sold, impacting over 150 million lives. The company has been active in Kenya since 2011, Uganda since 2015, and Tanzania since 2016.
This $176 million facility represents a major advancement in d.light’s efforts to provide sustainable energy to off-grid communities in East Africa, highlighting the critical role of innovative financing in achieving widespread energy access.
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