- Several investors are supporting d.light’s expansion in Africa.
- The credit line is one of a series of financings obtained by d.light in recent months.
D.light, a clean energy solutions provider, is set to receive new funding for its expansion in Africa. The finance a $50 million line of credit opened by a consortium of lenders, including Mirova SunFunder, the Trade and Development Bank (TDB), a trade and development financial institution operating in East and Southern Africa, and the Netherlands Development Finance Company (FMO).
According to a report by Afrik Africa, the credit line is one of a series of financings acquired by d.light in recent months. In June 2022, the company secured $238 million in par value receivables financing over a two-year commitment period as part of Brighter Life Kenya 2 Limited (BLK2), a local currency solar home systems financing facility to benefit Kenya and other East African countries.
D.light distributes solar-powered lighting equipment ranging from solar home systems to solar lanterns. The company, co-founded by Ned Tozun, and Sam Goldman, combines its lighting kits with other equipment such as TVs and mobile phones. The equipment is distributed through a pay-as-you-go system widely used by African solar kit providers.