M-Kopa, the Kenyan platform which provides digital financial services and solar systems and devices, is negotiating a $3 million expansion financing with the Dutch Development Finance Bank (FMO).
“The proposed facility increase of $3 million will add up to the existing receivables facility with M-Kopa Kenya. This will allow the company to continue its growth trajectory and provide more products to its customers,” FMO said in a note. Half the amount will come from Access to Energy Fund, which is an FMO-managed vehicle dedicated to financing energy projects in developing countries. The other half will be provided by Massif Fund, a vehicle that supports innovative businesses.
In 2017, these two funds each pumped $5.5 million into the capital of M-Kopa Kenya. To date, the Kenyan company has committed over $400 million in financing to an estimated 1 million clients, primarily in Kenya, Uganda, and Nigeria.
Chamberline Moko
Zenith Bank picks Côte d’Ivoire for $90M debut into Francophone Africa, confirming ambition t...
• Benin’s FeexPay and Côte d’Ivoire’s Cinetpay receive BCEAO payment service licenses• Both firms ex...
Nigeria’s fintech landscape has undergone a seismic shift in recent years, driven largely by persist...
Niger’s economy grew 10.3% in 2024 and is projected to expand 6.6% in 2025. Yet non-performin...
• WAEMU posts 0.9% deflation in July, second month in a row• Food, hospitality prices drop; alcohol,...
• Gabon plans joint venture to expand fiber optic network• Project targets 1,800 km extension, cost-sharing, better coverage• Moov and Airtel partnership...
From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africans. What started as a tool for sending and receiving...
• Africa's gas output fell 17 bcm in 2024• Algeria led decline due to aging production fields• Delays, underinvestment threaten Africa’s export...
• MSMEs spend $3.5B yearly on generator power in Nigeria• Generator costs consume up to 40% of business expenses Nigeria's national power grid...
The Umhlanga Festival, also known as the “Reed Dance,” is one of the most iconic cultural events in the Kingdom of Eswatini in Southern Africa. Every...
• Nigeria to turn Abuja stadium into culture, sports innovation hub• Project includes museum, arenas, markets, and youth creative center• Gov’t...