Tech

d.light closes $176 securitized financing for off-grid solar in Kenya, Tanzania, Uganda

Published

3 months ago

July 17, 2024

Global provider of household products and affordable finance for low-income households, d.light, has announced closing $176 million in securitized financing for off-grid solar in Kenya, Tanzania and Uganda.

According to the CEO of the firm, Nedjip Tozun, the new financing was provided by social impact-focused asset management company, African Frontier Capital.

Tozun, in a statement, said the will use the facility “to scale up its PayGo consumer finance offering to make solar-powered products available to more low-income households and communities without access to electricity.”

He stated that the facility is multi-currency and will enable access to reliable, renewable energy for an estimated six million people across the three countries over the next three years.

“With this new facility, d.light has now closed securitized financing with a total combined purchasing value of USD$718 million across five separate facilities since 2020,” the CEO said.

“This new facility is another landmark step in d.light’s mission to provide people with affordable energy that is also clean, safe and sustainable.

“It lets us expand our reach so that millions of off-grid families across Kenya, Tanzania and Uganda can experience the benefits of solar energy.

“Facilities like this make possible our pioneering PayGo consumer financing model with which we are able to offer solar home systems and high efficiency appliances to the people that need them most in a way that is affordable and sustainable.”

“With this new facility, d.light has for the first time in its history receivables-based financing facilities in each of our PayGo markets – Kenya, Uganda, Tanzania, and Nigeria.

“These facilities allow d.light to remain consistently cash flow positive and remove the requirement for further external equity fundraising to fund our growth.”

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Tech

South Africa’s GoMetro bags UK Freight Innovation Fund grant for maritime transport

Published

10 hours ago

October 17, 2024

Isaac Dachen

The South Africa’s fleet management firm, GoMetro, has been selected for a $191,000 grant from the UK Freight Innovation Fund to accelerate its plans of introducing electric maritime transportation.

The startup which was founded by Justin Coetzee in 2014, is a B2B SaaS fleet management company that is provides an OEM-agnostic electrification management platform for bus and truck operators, thereby leading to decarbonisation.

Late last year, GoMetro had $11.5 million Series A funding round to help it further develop its platform in its key markets, and with the new grant, is looking to a new course in maritime transportation.

“The grant will be used to finance a six-month trial with leading UK logistics companies Maritime Transport and Welch’s Transport to implement GoMetro’s EV-FIT solution for electric vehicle (EV) fleet transformation and the GoMetro Bridge fleet management software platform,” said Coetzee in a statement.

“The grant is an amazing validation for GoMetro in the UK freight market, and implementing our solution with major logistics players is an incredible opportunity to show how our software platform can help fleet owners achieve better results,” Coetzee added.

He further stated that with its trial partners, GoMetro will be collecting and analysing fleet movement data for a chosen UK depot, from which they will identify critical vehicle and infrastructure specification needs.

Tech

Kenya’s auto-tech startup BuuPass expands system to new operators

Published

3 days ago

October 14, 2024

Isaac Dachen

Kenyan auto-tech startup, BuuPass, has announced the expansion of its Bus Management System (BMS) to new operators in a bid to further enhance transparency and operational efficiency for bus companies in the country.

Founded in 2016 by the duo of Sonia Kabra and Wyclife Omondi, BuuPass has grown from a B2B2C mobility marketplace to become a leader in digital ticketing and transportation management solutions that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

“What we are witnessing is nothing short of a digital renaissance in bus operations. Our Bus Management Service isn’t just a tool—it’s the future of this industry,” said Kabra, who doubles as the CEO of the company.

“So far, BuuPass has sold over 16 million travel tickets and generated over US$100 million in total value of goods sold, while it has also taken part in the Google for Startups Accelerator Africa and been backed by the Google for Startups Black Founders Fund. It also acquired counterpart QuickPass earlier this year.

“The BuuPass BMS is designed to address the most pressing challenges faced by bus operators. At its core, the system enhances transparency and control by providing real-time visibility into all aspects of operations, from ticket sales to route performance.

“Among the newly enrolled operators are Abuya, Abandu, Shoreline, and Bin Ibrahim, serving crucial routes such as Nairobi-Garissa, Nairobi-Moyale, Nairobi-Busia, Mombasa-Busia, and Mombasa-Kitui.

“To ensure smooth integration, BuuPass provides these operators with scanning devices, computers, and digital printers, along with comprehensive training for their staff on system usage,” she said.