SunFunder and two institutional investors, ResponsAbility and Oikocredit have provided additional financing of $9 million to SolarNow, a specialist in off-grid solar installations in Uganda.
SunFunder is a firm founded by a former US-based banker in Kenya. The facility comes after a $6 million first round brought by SunFunder and its two co-investors, ResponsAbility and Oikocredit, in October 2017.
This new investment brings to $19 million the total resources provided by SunFunder and its partners to the solar energy supplier based in Kampala. The resources will allow the company to finance its expansion with a focus on promoting women’s and rural communities’ access to the benefits of solar energy.
Source: AE Africa