AFRICA: Proparco invests $10 million in solar kit supplier d.light

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AFRICA: Proparco invests $10 million in solar kit supplier d.light © marimos/Shutterstock

The solar home systems supplier d.light has just raised $10 million from Proparco, the subsidiary of the French Development Agency (AFD) group responsible for private sector financing. d.light will use this investment to develop its activities worldwide, particularly in Africa.

Proparco enters the capital of d.light. The subsidiary of the French Development Agency (AFD) group has invested in this supplier of solar home systems as part of a fundraising operation. Proparco is thus injecting 10 million dollars into a fast-growing company providing an essential service, access to electricity.

The company, founded by Ned Tozun and Sam Goldman, offers kits ranging from solar lanterns to solar home systems, capable of powering several LED light bulbs, as well as mobile phones and a radio or small television. In Africa, this equipment is mainly distributed in rural areas where households have limited purchasing power and low access to electricity.

Read also- AFRICA: universal electrification through off-grid solar mini-grids

The distribution of solar home systems is facilitated by pay-as-you-go, which in turn is facilitated by mobile banking, available everywhere, even in remote areas. “Proparco’s alignment with our mission and its commitment to job creation and development make it an ideal partner for d.light as we enter our next phase of growth. We are confident that we will continue to accelerate and deepen this impact as we expand our geographic presence and product portfolio to satisfy our customers,” says Ned Tozun, d.light’s co-founder, president and CEO.

To date, the company founded in 2006 is present in at least 70 countries around the world, many of them in Africa. In these countries, d.light supports electrification policies. To date, the company, based in San Francisco, California (USA), claims to have up to 100 million customers, with 30,000 points of sale worldwide. d.light wants to electrify 1 billion people by 2030.

Jean Marie Takouleu   


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