- Region: East Africa
- Country: Regional
- Sector: Clean Energy
- Year: 2017
- Domicile: Kenya
- Instrument: Loan
- Commitment (MNOK) as of 31.3.2017: 108
- Original Commitment (MNOK): 108
Norfund invests in East Africa's leading pay-as-you-go energy provider to low income off-grid homes.
M-KOPA Solar is a leading pay-as-you-go energy provider to off-grid homes in East Africa. The company, which is headquartered in Nairobi, provides electricity from solar systems through mobile phone payments.
To date M-KOPA has connected well over 500,000 homes in Kenya and Uganda to affordable, safe and clean energy. Its predominantly low-income customer base is accessing lighting, phone charging, radio and TV on daily mobile money payment plans that are less than the typical cost of kerosene. These M-KOPA customers enjoy over 62.5 million hours of kerosene-free lighting per month and they will save over 600,000 tonnes of CO2 over four years.
Today, approximately 600 million people in Sub Saharan Africa lack electricity connection. This investment represents an opportunity to address energy access for low income households and it is complementary to Norfund's existing energy portfolio that is mainly titled towards larger scale generation projects.