Millions of lives are about to become brighter after d.light, a player in affordable off-grid solar solutions, secured a $176 million securitization facility to expand its reach across Kenya, Tanzania, and Uganda. This landmark deal, announced on July 17, is a major step towards bringing clean, sustainable energy to some of East Africa’s most underserved communities.
The facility, provided by impact investor African Frontier Capital (AFC), will enable d.light to scale up its innovative PayGo consumer finance model. This approach allows low-income households to access solar-powered products through affordable payment plans, targeting an estimated six million people over the next three years.
“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,” said Nedjip Tozun, CEO of d.light. “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.”
This latest securitization brings d.light’s total financing facilities to an impressive $718 million since 2020, accentuating the company’s drive to sustainable growth and financial innovation in the off-grid solar sector.
Eric De Moudt, AFC’s founder and CEO, highlighted the broader implications of this partnership, stating, “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.”
As d.light aims to transform the lives of one billion people with sustainable products by 2030, this new financing serves as a powerful catalyst. It not only accelerates the company’s mission but also sets a precedent for how innovative financial models can drive social impact and sustainable development.
With nearly 30 million products sold and over 150 million lives impacted to date, d.light’s latest deal promises to further illuminate the path towards a brighter, more sustainable future for East African homes.
