AIIF3 secures US$37.1m guarantees from MIGA for clean off-grid solar energy in Central and East Africa

AFRICA –  The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, has issued guarantees of up to US$37.1 million to African Infrastructure Investment Fund (AIIF3), to cover the fund’s equity and quasi-equity/shareholder loan investments in Bboxx Capital (Bboxx) subsidiaries in Rwanda, Kenya, and the Democratic Republic of the Congo (DRC), for up to 10 years. An additional guarantee of up to US$5.9 million has also been issued to the Facility for Energy Inclusion’s Off-Grid Energy Access Fund (FEI-OGEF LP) of Mauritius, a US$100 million energy access…

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Bboxx secures US$500,000 loan from UNCDF for the deployment of its clean cookers in DRC

DRC – The United Nations Capital Development Fund (UNCDF), is availing US$500,000 in funding to British energy company Bboxx to deploy its clean cooking solution in several provinces of the Democratic Republic of Congo (DRC). The funding is intended for the development of Bboxx’s second core business in the DRC, namely the distribution of environmentally friendly cookers. The company, which mainly supplies solar home systems, wants to implement its partnership with UNCDF in the DRC provinces of Goma, Bukavu and Lubumbashi, where the rate of access to clean cooking is…

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Electricité de France acquires 23% stake in Bboxx Kenya, rolls out solar home systems

KENYA – French multinational electric utility company Electricité de France (EDF) has bought  a 23% stake in Bboxx Kenya, the subsidiary of solar home systems provider Bboxx. This investment will bring electricity to 2 million Kenyans living in rural areas by 2025. Electricité de France (EDF) is increasingly investing in decentralised electricity access systems in Africa south of the Sahara.  According to its parent company, based in London (UK), EDF’s investment will enable it to extend its services in rural Kenya. Kenya is Bboxx’s largest market in Africa with, to…

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Trafigura acquires minority stake in solar company Bboxx

AFRICA – Global commodities trading company Trafigura has purchased a minority stake in UK utility company Bboxx to accelerate progress on meeting United Nations Sustainable Development Goal 7, clean energy for all, in Africa. The size of the stake and the value of the deal have not been disclosed. Trafigura’s minority equity investment comes as Bboxx embarks on the next phase of its growth and accelerates its clean cooking commitments – a key part of tackling energy poverty and meeting UN SDG 7. Inaction on the clean cooking crisis is…

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AIIM plans to invest more into clean energy platform Bboxx to fund its growth

AFRICA – African Infrastructure Investment Managers (AIIM), chief investment officer Romain Py has announced plans to invest more money into clean-energy utility platform Bboxx to fund the company’s growth. Bboxx manufactures, distributes and finances decentralised solar powered systems. It says it has provided more than one million people with electricity, which it uses as a starting point to deliver further services. It operates in countries including Democratic Republic of Congo (DRC), Rwanda and Kenya. Private-equity firm AIIM, which is owned by Old Mutual Alternative Investments, stake in Bboxx, won’t increase…

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