(Ecofin Agency) - British firm Azuri Technologies announced has received from Standard Chartered Bank a credit facility of $5 million. The money will be used for manufacturing-purpose in addition to acquiring solar home systems which the firm distributes across Africa.

“As the PayGo industry matures, access to innovative debt finance mechanisms becomes an increasingly important part of being able to deliver continued market growth,” said CEO of Azuri, Simon Bransfield-Garth.

Since it listed in 2011, Azuri has distributed 90,000 solar home systems to half a million people. Moreover, in collaboration with mobile operators, it developed a prepayment system. Azuri Technologies’ products are currently distributed in 11 African nations including Nigeria, South Africa, Zambia, South Sudan, Rwanda, Malawi, Kenya, Ghana and Zimbabwe.

About 600 million people have no access to power in Sub-Saharan Africa.

Gwladys Johnson