- Bboxx is set to provide clean energy solutions in Africa.
- AGG’s loan to Bboxx will support the mitigation of an estimated 760,000 tonnes of CO2.
Bboxx, a next-generation utility expanding access to clean energy and clean cooking across Africa, has signed a second loan agreement with the Africa Go Green Fund (AGG) for a US$5.5 million loan.
The latest agreement between AGG and Bboxx, announced today, will aid efforts to overcome barriers to clean cooking adoption by providing commercial solutions. It entails addressing issues like distribution complexity and a lack of customer purchasing power to ensure that everyone has access to clean energy. AGG’s loan to Bboxx will support the mitigation of an estimated 760,000 tonnes of CO2, equivalent to 150,000 passenger cars driven regularly for a year.
Bboxx is a global pioneer and industry leader in Pay-As-You-Go (PAYG) solar home systems and, more recently, liquified petroleum gas (LPG) clean cooking stove solutions. Their innovative products are priced and sized to be attainable by low-income families. In addition, they sell on credit plans designed to fit across African countries. “With the climate crisis intensifying, it is now more important than ever to accelerate the provision of clean energy for all, in line with the UN’s SDG7 – clean energy for all,” said Mansoor Hamayun, CEO and co-founder of Bboxx.