d.light has secured $176 million to fund its solar energy projects in Kenya, Tanzania, and Uganda. African Frontier Capital (AFC), a social impact-focused asset management company, provided this financing.
The deal was announced on July 17. It aims to bring clean and sustainable energy to underserved East African communities.
d.light will use this funding to expand its PayGo consumer finance model. This approach helps low-income households access solar products through affordable payment plans. Over the next three years, an estimated six million people will benefit.
“This new facility is a significant step in our mission to provide affordable, clean, and sustainable energy,” said Nedjip Tozun, CEO of d.light. “We can now reach millions of off-grid families in Kenya, Tanzania, and Uganda.”
The deal offers more than financial support. It represents hope for communities that have long lacked access to reliable energy. d.light’s solar home systems and high-efficiency appliances will improve lives by addressing energy poverty and creating economic opportunities.
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A New Chapter for Energy Access
This securitization brings d.light’s total financing to $718 million since 2020. It highlights the company’s commitment to sustainable growth and financial innovation in the off-grid solar sector.
Eric De Moudt, AFC’s founder and CEO, emphasized the partnership’s broader impact. “This milestone shows how financial innovation can bring financial inclusion to vulnerable communities. It helps them access clean energy and enjoy social and economic benefits.”
d.light aims to impact one billion lives with sustainable products by 2030. This new financing accelerates their mission and sets an example of how innovative financial models can drive social impact and sustainable development.
With nearly 30 million products sold and over 150 million lives impacted so far, d.light’s latest deal promises a brighter, more sustainable future for East African homes.