Kenya: M-Kopa seeks $3mln growth financing from FMO
Monday, 29 March 2021 15:09
M-Kopa, the Kenyan platform which provides digital financial services and solar systems and devices, is negotiating a $3 million expansion financing with the Dutch Development Finance Bank (FMO).
“The proposed facility increase of $3 million will add up to the existing receivables facility with M-Kopa Kenya. This will allow the company to continue its growth trajectory and provide more products to its customers,” FMO said in a note. Half the amount will come from Access to Energy Fund, which is an FMO-managed vehicle dedicated to financing energy projects in developing countries. The other half will be provided by Massif Fund, a vehicle that supports innovative businesses.
In 2017, these two funds each pumped $5.5 million into the capital of M-Kopa Kenya. To date, the Kenyan company has committed over $400 million in financing to an estimated 1 million clients, primarily in Kenya, Uganda, and Nigeria.
Chamberline Moko
Live News
-
Malawi in Talks With Ericsson on Digital Training and Rural Connectivity
16:26
-
Fido Money Expands Instant Loan Services in Ghana and Uganda
16:24
-
Nigerian Start-Up Laskenta Expands AI Solutions for SMEs
16:11
-
Paris Festival Celebrates Generations of Maghreb Women Filmmakers
16:10
-
Algeria Taps Sonatrach to Align Job Training With Industry Needs
15:52
-
Safaricom Turns to Ericsson to Strengthen Kenya’s 5G Network Capacity
15:42
-
Senegalese Executive Pape Wade Builds AI-Driven HR Platform in Montreal
14:57
-
Cameroon to Pitch Investment Opportunities at Commonwealth Trade Summit in April
12:15
-
Cameroon to Send Over 500 Firms to China’s Canton Fair to Source Industrial Machinery
12:04
-
Cameroonian startup Sparte Robotics unveils autonomous marine drone for port surveillance
11:45
Senegal launches 200 billion CFA bond in UEMOA Proceeds to fund 2026 budget, transformation agend...
Amazon begins talks with Kenya on low-Earth orbit satellite broadband Kenya’s digital market ...
Algeria’s NESDA and the Algerian‑Saudi Investment Company sign cooperation deal focused on researc...
DRC seeks ITC support for local battery value chains Musompo SEZ targets $2 billion private ...
BOAD says sovereign bond purchases are liquidity management Member states accelerate borrow...
Malawi, Ericsson discuss telecom and digital training partnership Talks held during Mobile World Congress in Barcelona Discussions include...
Algeria’s vocational training ministry and state oil company Sonatrach plan to develop new industry-focused training programs. The initiative...
Safaricom has signed a new deal with Ericsson to expand microwave links supporting its 5G network. The partnership also includes AI-driven...
Gabon’s utility SEEG has launched technical upgrades to reduce power outages in Greater Libreville. The plan includes repairing a key underground...
March is marked by festivals, conferences, workshops and other events celebrating women. In March 2026, a film program is dedicated to female directors...
Rwanda’s capital immediately impresses visitors with its striking cleanliness and orderly layout, qualities that frequently set it apart from other cities...