BBOXX Bags $8m Loan to Accelerate Solar Home Systems in Rwanda
Thursday, May 30, 2019
By Babalwa Bungane
The local currency loan – one of the first to be made since the fund’s launch last year – accelerates BBOXX’s roll-out of solar home systems across Rwanda, its largest market.
The Rwandan Franc-denominated loan enables the company to expand its operations and bring clean, reliable and affordable energy to many more individuals, communities, and SMEs previously living without it.
To date, BBOXX has installed 80,000 solar home systems in customers’ homes and businesses across Rwanda.
The innovative local currency loan mitigates the company’s medium-term FX related risks, as customers make mobile money payments in Rwandan Francs to pay for their solar electricity.
Photo courtesy of Power Africa.