Bboxx gets USD-15m backing from InfraCo Africa

UK-registered Bboxx Ltd, a provider of decentralised solar systems in developing countries, will receive a USD-15-million (EUR 14.4m) infusion from InfraCo Africa to accelerate its activities in existing and new markets in sub-Saharan Africa, the parties said last week.

InfraCo Africa has committed to provide the funds to Bboxx through convertible loan notes. InfraCo Africa is part of the Private Infrastructure Development Group (PIDG) and is funded by governments in the UK, the Netherlands and Switzerland.

Bboxx describes itself as a next generation utility. It has so far supplied clean energy solutions for more than 2.5 million people globally and is present in countries such as Rwanda, Kenya, Togo, Nigeria and the Democratic Republic of Congo. Its systems run on the company’s management platform Bboxx Pulse.

(USD 1 = EUR 0.963)

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