February 14

Oikocredit Invests $5 Million in Yellow to Support Growth of Solar Home Systems in Africa

Dutch impact investor Oikocredit has lent $5 million to the African fintech company Yellow. The funding will enable Yellow to strengthen its operations in four countries in sub-Saharan Africa by rolling out more solar home systems for low-income households.

Yellow distributes pay-as-you-go solar kits and appliances in Malawi, Rwanda, Uganda, and Zambia. Since its inception in 2018, the company has supplied more than 300,000 solar-powered systems, serving nearly 1.5 million people.

Photo courtesy of World Bank Photo Collection.

Source: SolarQuarter (link opens in a new window)

Energy, Finance
financial inclusion, PAYGO finance, renewable energy, solar