- SunFinder will provide $4m to Yellow from SHS deployment in Malawi.
- The company provides SHS under a pay-per-use model in East Africa.
Fund manager SunFunder will provide a $4 million loan to Malawi-based solar home systems distributor Yellow. Yellow deploys solar home systems to improve electricity access in rural Malawi. In addition, yellow provides clean energy services on a pay-per-use model via mobile payment solutions available. The funding from Sun Finder will help Yellow to expand its services oin the East African nation.
Yellow has distributed about 110,000 solar kits providing electricity to 400,000 people. The electricity access rate in rural Malawi is only 5 per cent, and Yellow plans to reduce the deficit via solar kits. Last year, Yellow raised $3.3 million from Platform Investment Partners (PIP) and Ruby Rock Investment to provide SHS to 100,000 rural households in Uganda and Malawi.