Bboxx Raises $15 Million From InfraCo Africa

InfraCo Africa Commits $15 Million To Sub-Saharan Africa Focused SHS Company

Bboxx Raises $15 Million From InfraCo Africa

After PIDG’s sister company GuarantCo along with SBM Bank Kenya pooled in KES 1.6 billion for Bboxx, its InfraCo Africa has now committed $15 million for the electricity utility. (Photo Credit: InfraCo Africa)

  • Bboxx has secured a commitment of $15 million from InfraCo Africa to expand its reach in Sub-Saharan Africa
  • It will enable the company to strengthen its business in new and existing markets
  • For InfraCo Africa, this is its 1st investment in the SHS space to bring clean energy to rural areas and communities

England headquartered and Africa focused off-grid electric utility Bboxx has raised $15 million from InfraCo Africa to expand its reach to various existing and new markets across Sub-Saharan Africa.

Bboxx said the investment under the agreement will enable it to deliver clean, reliable and affordable energy access to underserved communities in Africa. It reaches out through its comprehensive management platform Bboxx Pulse that, it adds, enables clean energy access to be scaled to places previously considered too expensive or difficult to reach via traditional grid infrastructure.

“Today’s investment by InfraCo Africa will further support Bboxx in its continued growth, supplying clean energy solutions for hundreds of thousands of customers across sub-Saharan Africa in the coming years,” said InfraCo Africa’s Chef Investment and Risk Officer, Claire Jarratt. “Our investment will also enable Bboxx to unlock further private sector finance, a key driver of the PIDG and InfraCo Africa mandate.”

Part of the Private Infrastructure Development Group (PIDG), InfraCo Africa says this is its 1st investment in the solar home systems (SHS) space and is aligned with its target to expand clean energy to rural areas and communities using alternative models.

The investment follows KES 1.6 billion ($15 million) financing for Bboxx by PIDG sister company GuarantCo and SBM Bank Kenya for its Kenyan operations.

A September 2021 report by Bboxx and UCL links economic prosperity in Sub-Saharan Africa with off-grid solar and stressed on gender inclusive and gender sensitive energy policies to foster more inclusive economic prosperity (see Bboxx & UCL’s Off-Grid Electricity Report).

About The Author

Anu Bhambhani

SENIOR NEWS EDITOR Anu is our solar news whirlwind. At TaiyangNews, she covers everything that is of importance in the world of solar power. In the past 9 years that she has been associated with TaiyangNews, she has covered over thousands of stories, and analysis pieces on markets, technology, financials, and more on a daily basis. She also hosts TaiyangNews Conferences and Webinars. Prior to joining TaiyangNews, Anu reported on sustainability, management, and education for leading print dailies in India. [email protected]

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