d.light closes $30m in securitised finance to scale up business in Tanzania

d.light, a provider of solar-powered products as well as affordable finance for low-income households, has announced a $30 million securitisation facility from the Eastern and Southern African Trade and Development Bank Group (TDB Group).

d.light will use the capital to increase its existing securitised financing facility in Tanzania and scale up its low-cost pay-go personal finance service in the country so that more low-income people and households can purchase the company’s affordable, solar-powered household products.

d.light has now raised $490 million in total securitised financing since 2020. The financing facility in Tanzania will be anchored by TDB.

d.light CEO, Nick Imudia said, “This new financing from TDB gives us the extra funding to reach more low-income families and households in Tanzania via our pay-go business, in a way that is affordable for our customers and sustainable for our business.”

“d.light and our lending partners are long-time pioneers in developing securitised finance as an innovative, scalable financing model for raising equity for off-grid solar that is guaranteed against current and future customer sales. We’ve successfully used the securitisation model for several years in Kenya and now we and our partners are expanding it to Tanzania.”

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