d.light, a leading provider of solar-powered products and financing solutions for low-income households, has announced a significant funding milestone in its mission to bring clean energy to millions.

The company has secured a new $176 million securitization facility from African Frontier Capital (AFC), which will be used to expand its PayGo consumer financing offering in Kenya, Tanzania, and Uganda.

Expanding Access to Solar Energy

The new funding will enable d.light to reach an estimated six million people across the three countries over the next three years.

By providing affordable access to solar-powered products, d.light is empowering communities to improve their lives through better lighting, mobile charging, and other essential services.

This investment marks a significant step forward in the company’s efforts to combat energy poverty and promote sustainable development.

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A Proven Track Record in Securitization

This latest securitization facility is part of d.light’s broader strategy to leverage capital markets to support its growth. Since 2020, the company has successfully closed four securitization facilities with a combined purchasing value of $718 million.

This achievement underscores d.light’s leadership in the off-grid solar sector and its ability to attract investment from socially responsible investors like African Frontier Capital.

A Model of Success: PayGo Financing

d.light’s PayGo consumer financing model has proven to be a game-changer in the off-grid solar market. By offering affordable installment plans, the company has made solar products accessible to millions of people who previously lacked access to electricity.

The success of this model is evident in the early repayment of the Brighter Life Kenya 1 Limited (BLK1) facility, a testament to the strength of d.light’s business model and the resilience of its customer base.

Partnership for Impact

The collaboration between d.light and African Frontier Capital exemplifies the power of partnership in driving social and environmental impact.

By combining d.light’s expertise in solar technology and distribution with AFC’s financial success, the two companies are creating a powerful force for positive change in East Africa.

A Brighter Future for Millions

d.light’s commitment to providing affordable, clean energy solutions is inspiring. With this new funding, the company is poised to expand its reach and impact the lives of millions of people across Kenya, Tanzania, and Uganda.

By making solar energy accessible to low-income households, d.light is not only improving living conditions but also contributing to a more sustainable future for the region.

About d.light and African Frontier Capital

d.light, founded in 2007, is a global leader in providing affordable and sustainable energy solutions to low-income households. With a mission to transform the lives of one billion people by 2030, d.light has become a driving force in the off-grid solar sector.

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African Frontier Capital (AFC) is a dedicated impact investment group focused on financial inclusion for underserved populations in Africa. AFC’s partnership with d.light highlights its commitment to supporting businesses that create positive social and environmental impact.

This partnership between d.light and African Frontier Capital serves as a symbol of hope for communities living in energy poverty. It demonstrates the potential of innovative financing models to drive social and economic development, while also addressing the urgent challenge of climate change.

As d.light continues to grow and innovate, it serves as an inspiration for other businesses and investors seeking to create a positive impact on the world.

By harnessing the power of solar energy and the strength of partnerships, d.light is illuminating a path towards a more sustainable and equitable future for all.