PEG Africa Raises $5M in Debt Funding From ElectriFI

Wednesday, September 4, 2019

Accra-based pay-as-you-go solar company PEG Africa has raised $5-million in funding in the form of debt finance, from the EU-funded Electrification Financing Initiative (ElectriFI).

PEG Africa currently provides 400 000 daily users in Ivory Coast, Ghana and Senegal with credit for solar home systems via its pay-as-you-go financing model.

The firm was founded in 2013 by CEO Hugh Whalan and COO Nate Heller.

The company explained in a statement today that the funding will be used to help grow PEG Africa’s existing markets.

Photo courtesy of Christopher Herwig.

Source: Ventureburn (link opens in a new window)

development finance, energy access, off-grid energy