A crowdfunding initiative aims to generate £2.5 million each year to provide families in Rwanda, Togo and Nigeria with access to affordable solar energy, ELN reports.
The scheme, launched by utility BBOXX and online investment platform Lendahand Ethex, plans to supply sub-Saharan African communities with smart, affordable and clean energy solutions. The UK will provide matched funding of 25% of the campaign value.
According to PV Magazine, the partnership is part of the Energise Africa scheme that was first launched in 2017. Lendahand Ethex’s MD Danny den Hartog reiterated that one of the main inhibiting factors for solar and energy access in Rwanda, Togo and Nigeria is the lack of available and competitive finance.
“Through Energise Africa we are providing solar businesses with an alternative low-cost finance option that ultimately creates a win for our investors, a win for the solar businesses and a win for African families,” he added.