d.light has announced the closing of a new securitisation facility that will purchase $176 million of receivables in Kenya, Tanzania and Uganda. The new financing is being provided by asset management company African Frontier Capital.
d.light will use the facility to scale up its pay-as-you-go consumer finance offering to make solar-powered products available to more low-income households and communities without access to electricity.
With this new facility, d.light has now closed securitised financing with a total combined purchasing value of $718 million across five separate facilities since 2020.
This new facility is another landmark step in D.light’s mission to provide people with affordable energy that is also clean, safe and sustainable. It lets us expand our reach so that millions of off-grid families across Kenya, Tanzania and Uganda can experience the benefits of solar energy.
Facilities like this make possible our pioneering pay-as-you-go consumer financing model with which we are able to offer solar home systems and high efficiency appliances to the people that need them most in a way that is affordable and sustainable.
d.light CEO Nedjip Tozun
This milestone is a testament to how data-driven financial innovation can play an important role in bringing financial inclusion to the world’s most vulnerable communities, helping them to gain access to clean and modern energy and the ensuing social and economic benefits that come about as a result. We are grateful to D.light for its ongoing leadership in the off-grid solar sector and proud to partner with such a visionary company.
Eric De Moudt, AFC’s founder and CEO