After raising $61 million in 2020 to finance its deployment in Kenya, the solar home systems supplier d.light is pursuing its expansion across Africa with the aim of reaching 1 billion people by 2030.
As part of this strategy, the company has just secured $10 million in financing from French group Proparco. “Proparco’s alignment with our mission and its commitment to job creation and development make it an ideal partner for d.light as we enter our next phase of growth. We are confident that we will continue to accelerate and deepen this impact as we expand our geographic presence and product portfolio to satisfy our customers,” says Ned Tozun, d.light’s co-founder, president and CEO.
The financing comes a year after the solar home systems provider secured $61 million to support its expansion in Kenya. The resource was provided by a group of financial institutions including the Development Finance Corporation (DFC).
d.light, which claims to have provided solar energy to more than 100 million people in 70 countries since its inception in 2006, wants to reach 1 billion people by 2030.
Chamberline Moko
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
• Ghana signs a deal with eLearning Africa to expand digital learning access across the country.• The partnership focuses on deploying modern digital...
Ghana launches the Oncology Nurse Leadership Program (ONLEP) to train specialized oncology nurses from seven African countries. The five-year...
Ivanhoe Mines signs deal covering 100% of Kamoa-Kakula smelter’s copper output. The smelter will process up to 500,000 tonnes annually, starting at...
African gas projects drive significant contracts for Asian shipbuilders, especially for Floating Liquefied Natural Gas (FLNG) units. South Korean...
Kolmanskop offers a haunting blend of lost wealth, colonial history, and the unstoppable force of nature. Located just a few kilometers inland from...
Located about 40 kilometers from Cape Town’s city center, Boulders Beach in Simon’s Town is one of the Cape Peninsula’s most iconic destinations. This...