2021 Lab proponent Nithio announced, with the U.S. African Development Foundation (USADF), financing to three African-owned enterprises that provide access to affordable and clean energy to households in Kenya. The three enterprises recently awarded financing as part of this partnership include Rafode Limited, SolarGen Technologies Limited, and VEP Enterprise Limited.

In its third year, the USADF-Nithio partnership places USADF and Nithio at the forefront of scaling blended finance to the off-grid solar energy sector in Kenya, which brings together private sector investments and public sector de-risking capital to scale clean energy financing. Together, the partners co-fund early-stage African energy companies, with USADF providing grant funding and Nithio providing loans. To date, USADF has committed US$635,000 in grants and Nithio has committed US$1,750,000 in senior secured loans to three finalists of the USADF Nithio Off-Grid Energy Challenge.

Read the full announcement