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Proparco has invested $10 million in SHS supplier d.light.
- PProparco is the private financing arm of the AFD.
- d.light supplies SHS via a pay-as-you-go model facilitated by mobile banking services in rural communities across Africa.
Proparco, a subsidiary of the French Development Agency (AFD) group, has invested $10 million in SHS supplier d.light. d.light intends to use the funding to expand its activities, especially on the African continent. d.light offers solar home systems kits ranging from solar lanterns to solar home systems, capable of powering several LED light bulbs, as well as mobile phones and radio or small television.
The company’s SHS are distributed in unconnected rural communities in Africa. The company supplies its SHS via a pay-as-you-go model facilitated by mobile banking services.
Ned Tozun, d.light’s co-founder, president and CEO, commented that Proparco’s alignment with d.light mission and commitment to job creation and development make it an ideal partner for d.light.
d.light operates in over 70 countries globally, with many of them in Africa. The company claims to have electrified over 100 million customers so far and has targeted1 billion people by 2030.