Beyond the Grid Fund for Africa boosts its portfolio
The Beyond the Grid Fund for Africa (BGFA) has signed four new agreements with energy service companies to support the expansion and scale-up of off-grid stand-alone solar home systems in Burkina Faso, Uganda and Zambia.
Further agreements have been signed with FINCA Plus LLC Uganda, Sun King (Greenlight Planet Zambia Limited), Qotto SARL BF and Bboxx (Advens Bboxx Burkina Faso SAS). The total amount of results-based financing for the four projects is €9.6 million, which is expected to leverage an additional €15.5 million in other financing. In total, these new investees aim to provide approx. 2.5 million people with access to modern, clean and affordable energy in rural and peri-urban areas in all countries.
FINCA Plus LLC, known locally as BrightLife Uganda, provides access to affordable products to markets to improve the daily lives of low-income customers living in remote areas. FINCA will receive results-based financing from BGFA to expand and scale its operations and distribute some 136,700 new energy service subscriptions in the form of light, phone charging, TVs and refrigeration in rural areas of Eastern and Northern Uganda.
Founded in 2007, Sun King provides energy for 1.8 billion consumers across Africa and Asia who lack access to reliable electricity. Sun King designs, finances and installs small-scale off-grid photovoltaic systems, such as solar lanterns and stand-alone solar home systems.
Sun King started its operations in Zambia in 2021 and has already provided over 220,000 Zambian homes with light and power. BGFA funding will enable Sun King to offer inclusive pay-as-you-go financing to off-grid Zambian communities with limited access to finance. The aim is to install about 229,000 new high-quality, clean and affordable energy systems in remote areas of Zambia, which will benefit over one million people.
Bboxx is a company established in 2010 that provides clean energy and other services such as clean cooking to households, small businesses and institutions across ten Africa countries. With results-based financing from BGFA, Bboxx will be able to expand its business in Burkina Faso through its local joint venture with Geocoton Advens Group. The aim is to distribute up to 100,000 new high-quality, clean and affordable solutions through lights, chargers, radios, torches and TVs.
Qotto BF is the local subsidiary of the French holding company Qotto SAS, registered in Burkina Faso in 2018. The company has proven experience delivering essential services in off-grid areas and installed over 14,300 solar home systems. Qotto BF will receive financing from BGFA to expand operations across the country with the aim to install up to approx. 21,200 off-grid stand-alone solar home systems.
The Beyond the Grid Fund for Africa has so far contracted 19 companies, 15 from its first funding round in Burkina Faso, Liberia and Zambia (BGFA1) and four from Uganda (BGFA3). Cumulatively, these have the potential to reach up to 7.8 million people. Currently shortlisted projects from the financing rounds in the Democratic Republic of the Congo (BGFA4) and the second round in Uganda (BGFA5) are undergoing evaluation and due diligence stages.