- AlphaMundi provides $1m to accelerate Redavia’s growth.
- Revadia currently provides C&I services in Ghana and Kenya.
- AlphaMundi also provided support to agric clients impacted by the pandemic.
Swiss impact investor AlphaMundi is set to provide $1 million in mezzanine debt funding to Kenya-based Redavia to expand the roll-out of its C&I solar services in Africa. AlphaMundiwill provides the funds via AlphaJiri, its Mauritius-based fund that supports impact businesses in the food and renewable energy sectors. This funding is AlphaJiri’s first investment in the solar C&I subsector as the fund had previously invested in solar units distribution companies such as Amped and SunCulture, a solar pump distributor in West and East Africa.
Redavia, which mainly provides C&I services in Ghana and Kenya, has increased its portfolio in recent years, providing energy to businesses in several sectors, including; food processing, manufacturing, hospitality and real estate, utilities and construction. AlphaMundi Foundation also provided a combination of philanthropic financing and repayable grant support for seven of Redavia’s clients in the agricultural sector impacted by the covid-19 pandemic.