Bboxx, Secures $15 Million Funding from InfraCo Africa for Sub-Saharan Africa Solar Expansion
Investment company, InfraCo Africa, is injecting new funding into United Kingdom-based Bboxx, the solar home system company, it has emerged.
The funding is in the form of $15 million in convertible loan notes from InfraCo Africa, an investment company of the Private Infrastructure Development Group (PIDG). The funding will enable Bboxx to expand its operations in sub-Saharan Africa.
The London (UK) based company mainly distributes solar home systems in rural areas. Bboxx is also diversifying its activities by offering less polluting means of cooking, powered by liquefied petroleum gas (LPG). The company is already present in Rwanda, Kenya, the Democratic Republic of Congo (DRC), Togo and, very recently, in Nigeria.
Photo courtesy of Acumen Fund.