UK-based Azuri Technologies Ltd., provider of »PayGo« solar products and services across sub-Saharan Africa, announced the launch of its $20 million financing program to provide working capital for the expansion of off-grid energy and service provision in East Africa.
The program will be deployed in phases during 2018. The first phase of $4 million, which has already been concluded, includes investments from the European Union program ElectriFI, alongside Azuri, and its investment partners, including impact investment platform TRINE. The initial phase will be deployed in Kenya, providing additional financing to enable Azuri to supply its »PayGo« solar systems, including its new satellite-TV solution. According to the company, subsequent phases of the program will expand to Azuri’s other key territories in East Africa including Tanzania, Uganda, and Zambia.
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